Authorities May Begin Bitcoin Sell-Off

🔵According to experts from Kaiko, the authorities in the U.S., China, the U.K., and Ukraine may begin selling off their Bitcoin reserves in September. This could lead to a drop in the price of the first cryptocurrency to $53,000. An additional source of sales comes from creditors who received Bitcoin from the bankrupt exchange MtGox.

🔵Kaiko analysts believe that the fear of sell orders, combined with the depletion of liquidity in the market, could intensify Bitcoin’s price fluctuations. Against this backdrop, Bitcoin has dropped by 8% since the beginning of August. Earlier, analysts at QCP Capital reported that Nvidia’s financial report put pressure on both the stock and cryptocurrency markets.