Researchers at CryptoQuant stressed that since the bitcoin (BTC) exchange rate recently surpassed the $30,000 mark, investors should keep a close eye on four key dates during 2023. According to experts, it depends on them whether the cryptocurrency boom in the market will start again or not.
According to experts, the most important thing in the financial world remained the news background and cryptocurrencies were no exception. Any events could put additional pressure on the main digital coin, followed by altcoins. CryptoQuant identified important dates for BTC quotes, calling for attention, not the loudest event. According to assurances of experts, these are May 26, August 7, October 19, and December 30, 2023.
According to experts, these are critical dates when the U.S. government can sell assets in BTC. The coins in question were seized from Silk Road. In a recent lawsuit, U.S. authorities confirmed the sale of 9,800 bitcoins on March 14 this year for a total of $215.7 million as a result of seizures related to the case.
The government intends to sell approximately 41,500 more BTC coins. According to preliminary assurances, this will be done in 4 batches within the current year.
CryptoQuant analysis showed that the 73-day interval between the sale of the first batch and the next indicated a possible pattern of a sell-off strategy by the U.S. government. It remained to be seen whether this pattern would persist or whether it was just a coincidence. Analysts assured that by keeping a close eye on these key dates, investors would be able to “navigate the rough waters of the cryptocurrency market better.”
As of noon on April 17, 2023, bitcoin cryptocurrency was available on the market at $29,915. This is down 1.44% from a similar value a day ago. The market capitalization of the virtual coin dropped to $578.85 billion.