Cryptocurrency analyst names the days when bitcoin will fall the most

Cryptocurrency analyst CryptoQuant said that in 2023, there will be some days when we should expect a sharp drop in the price of bitcoin due to the actions of the US government.

Recently, representatives of the U.S. government announced plans to sell some of the confiscated BTC in several batches this year. The US government has repeatedly confiscated BTC from criminal organizations. In total, the US authorities have about 200,000 BTC worth about $ 6 billion.

According to CryptoQuant, the US government can be called a real cryptocurrency whale. The first sale of bitcoins has already taken place on March 14. The authorities got rid of almost 10,000 BTC worth about $ 215 million, which provoked a significant drop in the price of bitcoin. In total, the US government plans to release 41 500 BTC to the market this year.

The CryptoQuant analyst suggested that the remaining four sales will take place: may 26, August 7, October 19, and December 30. «To determine these dates, I divided 365 days by the number of sales and got the number 73. The first part of bitcoin was sold on the 73rd day of this year. Will there be a pattern of selling the remaining batches every 73 days or is it just a coincidence? Only time will tell,» the analyst explained. Although not all experts agreed with CryptoQuant’s calculations, most are convinced that the days when the US government sells its IOTC will be particularly volatile, so investors should be on the lookout.