GSR analyst: If the US government sells the seized BTC from Silk Road, it may bring downward pressure to the market

Odaily Planet Daily News, GSR analysts point out that the unpredictable price fluctuation of Bitcoin is still mainly driven by market sentiment rather than fundamental factors. The monetary policy of the Federal Reserve and the Central Bank of Japan is worth following, and the upcoming economic and market information data to be released by the United States is also worth following. The United States is moving towards a soft landing, which GSR believes is a positive catalyst for cryptocurrency. Another factor that may put pressure on BTC is the US government’s potential sale of nearly 69,000 BTC (worth about $4.2 billion). These BTC were seized from the Silk Road market. GSR analyst Brian Rudick warns investors not to ignore the potential impact. “This may exert some downward pressure on the market,” In addition, market observers are now following four key factors that may affect the price of BTC, namely: the US election, the monetary policy of various Central Banks, the US economy, and the possible sale by the US government of BTC confiscated in the Silk Road case. (DL News)