Inside: 200,000 BTC To Be Dumped Soon

 

Law enforcement agencies have completed the investigation of a series of cybercrimes, seizing 200,000 bitcoins. Taking into account the current exchange rate, the amount is said to be almost $6 billion.

Experts predict that such a huge amount of seized funds could bring the price down to $24,000 per coin.

This event is of interest to traders who are closely monitoring the situation. Such a significant volume can lead to possible changes in the dynamics of the asset price.

 

Lado Okhotnikov, founder of Meta Force, warns of a negative scenario in the crypto market:

“The last time the US government decided to sell 9,800 confiscated bitcoins, the coin dropped in price by almost 10%. Can you imagine what will happen if 200,000 BTC are dumped? Perhaps in the near future we should expect the asset to fall below $14,000. But before that, most likely, we will see a slight increase, and only then a sharp dump.”

Analysts emphasize that such a large sale of an asset can cause panic and fear. Some investors may decide to sell their bitcoins amid this news for fear of possible losses. This, in turn, will cause a temporary decline in prices for altcoins, which, as we know, do not have a “bottom”.

 

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