Friday, January 19, 2018

More BTC down side to come.

"On January 22, the US Marshals Service will auction 3,813 bitcoins that were seized during various criminal and civil forfeitures.

Altogether, the bitcoins are worth just under $40 million at the time of writing. Given Bitcoin’s wild price fluctuations, however, they could soon be worth much more. This was the case with the 144,336 Silk Road bitcoins auctioned over the past few years by the Department of Justice for a paltry $48 million. Today those bitcoins would be worth nearly $1.5 billion. 

With this potential for a massive return, one has to wonder: Why isn’t the government keeping seized bitcoins for itself and then selling them for a premium months or years later instead?

Oooh! Maybe because they know it's a con?

Well..... I guess the government didn't get out at the top. But those coins have lost nearly half their value. The knife catchers didn't seem to re-inflate the sector that much, so....I'm guessing the elevator will be making stops on lower floors. Sundays seem to be a sluggish day for bitcoin trading.

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