Bitcoin faces pressure from Germany, we tell you how in our news summary

The price of the digital currency is approaching USD 60,000, but there are conflicting views on the direction it will take in the coming weeks.

This week the bitcoin (BTC) market continued to face pressure from sales of confiscated BTC carried out by the German government for a month. Along with payments made to creditors of the defunct Mt. Gox exchange, these sales drove the price of the digital currency downward.

Despite this, the price of bitcoin has experienced a rebound during the week and remains in a range of around USD 58,000 to USD 60,000, although it must still show strength to avoid new relapses. Analysts consider it too early to determine whether the cryptocurrency will not visit lower prices in the short term.

In the midst of the fear generated by the decline, contrasts are observed between what market experts say, because while some maintain optimism and assure that the price will return to the bull run; others believe that the BTC price may fall to lower levels.

All this occurs while the German government continues selling bitcoins, to the point that it is already running out of the amount of BTC that it seized and that placed the country among the whales of the market. It happens in a scenario in which the holders emerge as a force.

At the regional level, there are developments in the ecosystem of Colombia and Argentina on their path to regulation, while the European Union is beginning to feel the effects of MiCA.