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$40M Bitcoin Auction Next Week May Cause a Bitcoin Flash Crash, Data Shows

The US Marshals Service is preparing to auction around 4,000 of seized BTC (+$40 million). Previous sales have coincided with an aggressive down wick on Bitcoin price charts.


The sale will take place on February 18. There may, therefore, be an opportunity coming up to get exposure to Bitcoin cheap next week, even if you didn’t register to take part in the auction itself.

$40M Bitcoin Auction Next Week May Cause a Bitcoin Flash Crash, Data Shows
Bitcoin Auction Next Week

Will US Marshals Auction Prompt Another Bitcoin Dump?


Highlighting the sudden market crashes coinciding with the US Marshals’s prior auctions is Twitter user Trade or Die (@TradeorDie31). On the below chart, they demonstrate three other instances that saw a violent down wick.


The first two are January 11 and January 22. The government agency auctioned more than 3,813 Bitcoin in a sale that took place across the two dates.


The next is March 19 2018. On this occasion, the US Marshals auctioned 2,170 Bitcoin. Read More...

#BTC

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