Previously Fed Government had announced the auction of about 30,000 Bitcoin BTC publicly, anyone whom can proof that they’re US resident and bank balance of $200,000 will qualify for this auction. Sadly this is where the rich getting richer and the poor getting poorer.
Bottom line, the Bitcoin BTC price already started falling when the news spread, people get nervous and sold their Bitcoin. BTC price dropped from $700 down to $600 now to $550 as June 27th 2014 is getting closer and closer. The price of BTC will continue to fall to $400 or lower right before the auction and after the auction. After the auction it could continue to fall even lower for a period of time, could be months and months before it can regain again.
The Fed Gov. really know how to disrupt the price of Bitcoin, although they’re not getting rid of Bitcoin totally, but they’re showing who’s boss. Sadly, it work and they can control the price of Bitcoin unfortunately, as we are currently seeing. People are afraid of the Fed Government.
In the past Bitcoin rise and fall did not influences much from bad or good news. Even where there were a lot of Exchange got shut down, owners operators got arrested, it didn’t really impact the price of Bitcoin much. Now the Fed Gov. testing new methods, and it work. We don’t know what other tricks the Fed Government have up their sleeves.
Everyone into Bitcoin, expect major loss these coming days. If you want to be safe, might want to sell your Bitcoin miners now! and I mean now! especially those that are paying for electricity off of selling their Bitcoin monthly. There isn’t any profit. The expected Bitcoin mining difficulty will reach over 30% increase, so do your match, difficulty mining rise, BTC price drop for long time, do your homework, do your math.