Sunday, March 11, 2018

Selling or buying opportunity? A whole lot of Bitcoin is going to be dumped into the markets on March 19

Approximately a week from now, U.S. officials will be conducting an auction to sell off thousands of Bitcoin it has acquired through assets seized from criminal activities.  And on that day, the U.S. Marshall Service will be introducing an interesting quandary for the cryptocurrency markets.

Ie... if you own Bitcoin should you sell because the potential for a severe price drop is a real possibility?  Or because of this potential, is it an incredible buying opportunity the same way gold and silver becomes when the banking cartel dumps contracts into the market to drive down prices?

The U.S. Marshals are auctioning approximately 2,170 bitcoins in connection with various federal criminal, civil and administrative cases during a six-hour period March 19 from 8 a.m. until 2 p.m. EDT. 
To register, potential bidders must complete all registration requirements by noon EDT March 14. A $200,000 deposit is required to participate. Deposits will be returned to non-winning bidders. 
Bids will be accepted by email from preregistered bidders only. The bitcoins are offered for sale in 14 blocks: two blocks of 500 bitcoins, 11 blocks of 100 bitcoins and one block of approximately 70 bitcoins. 
The winning bidder will be notified March 19. Further details on the auction are available – Silver Doctors
Over the past week Bitcoin has already experienced a near 25% price decline due to the fact that the SEC is beginning to crackdown on cryptocurrency trading within the United States.  So the irony of course is that whomever buys these Bitcoins up for auction will already be known to Uncle Sam, and also be holding a commodity that appears very soon to be to fall under the control of the very government who is selling it. 


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