CandleFocus Germany’s $1.7 Billion Missed Opportunity: Selling BTC Too Early
2024-11-12
Author: Content Editor
The German government sold off 50,000 BTC during the summer when Bitcoin prices dropped below $54,000, earning approximately $2.88 billion. However, analysis suggests that Germany could have earned an additional $1.7 billion if they had held onto the digital asset longer. Despite the price dip following the sale, Bitcoin's recovery gained momentum three months later and has since surged over 30% since Donald Trump's presidential victory, reaching $89,643. The selloff by Germany applied considerable selling pressure on the crypto market, but investors remain optimistic about Bitcoin's potential for further gains. The combination of historical halving trends and favorable sentiments surrounding Bitcoin suggests more opportunities for growth in the coming months.
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