Market Will Absorb Mt. Gox and German Government Sell Pressure, According to Economist Alex Krüger – Here’s Why

Market Will Absorb Mt. Gox and German Government Sell Pressure, According to Economist Alex Krüger – Here’s Why


Macro trader and economist Alex Krüger isn’t concerned about the Bitcoin (BTC) sell pressure from Mt. Gox and the German government.

The German government was first spotted moving Bitcoin to exchanges last month after their authorities seized 50,000 BTC as part of an investigation into Movie2k.to, a now-defunct illegal streaming site that was accused of distributing more than 880,000 pirated films between 2008 and 2013.

After holding that 50,000 BTC until June 19th, the German government now only owns 23,964 BTC at time of writing, according to the digital asset de-anonymizing platform Arkham.

Krüger, however, says the market is entering the “final stretch of the German onslaught.”

“16,038 BTC ($910 million at the time) moved price by -3.5% ($2,000). The market could absorb the rest

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