In a recent TechFlow update, QCP Capital posted on their official channel stating that the market violently reversed the positive momentum brought by Trump to the cryptocurrency market this week. The price of BTC dropped from its peak of 70,000 after the speech to nearly 60,000 this morning. The reasons for the decline include selling pressure from the U.S. government (approximately 28 trillion BTC), Mt. Gox (33.96 trillion BTC), and Genesis (BTC and ETH worth 1.50 billion USD); the Bitcoin mining difficulty reaching a historical high, and an increase in recession expectations. According to options market data, price volatility is expected to stabilize in the summer.

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<p>Deep Tide TechFlow News, QCP Capital stated in its official channel that the market violently reversed the positive impact brought by Trump to the cryptocurrency market this week. The price of BTC fell from a high of 70,000 after the speech to nearly 60,000 this morning. The reasons for the decline include selling pressure from the U.S. government (about 28 trillion BTC), Mt. Gox (33.96 trillion BTC), and Genesis (BTC and ETH worth 15 billion U.S. dollars); the Bitcoin mining difficulty has reached a historical high, and there is an increase in expectations of a recession. According to options market data, price volatility is expected to stabilize in the summer.</p>
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QCP Capital: US Government's transfer of BTC, Mt. Gox, and Genesis repayments collectively brings panic selling pressure to the market.