The post The 5 Best Crypto To Buy as DOJ Prepares to Sell $6.5B Bitcoin appeared on BitcoinEthereumNews.com.

Bitcoin has been on a rollercoaster ride lately. It finally broke through the $100K mark in early December and peaked at $108K on December 17. But it’s been slightly downhill for the $BTC price since then, starting this week off at around $98K.  And now, a recent announcement by the US Department of Justice (DOJ) has seen Bitcoin take a rough tumble, down to $93K. The DOJ has been given the green light to sell 69,370 $BTC (around $6.5M) that had been seized from a darknet marketplace.  Source: CoinMarketCap Reportedly, concerns regarding Bitcoin’s volatility have been cited by the DOJ as the main reason for pushing for a quick sale, which was approved by a federal judge on December 30. The Bitcoin was seized from Silk Road, a marketplace for illegal goods and services, including drug trafficking, computer hacking, and money laundering. Its founder, Ross William Ulbricht, was arrested in 2013 and is currently serving a life sentence. By the way, President-elect Donald Trump – as one of his election campaign promises – said he would commute Ulbricht’s sentence if elected.  Trump’s January 20 inauguration was widely expected to bolster the $BTC price in light of his pro-crypto stance, including the establishment of a strategic reserve for digital assets. The DOJ announcement, however, has resulted in a sharp market impact on $BTC’s price. Economist Peter Schiff has much to say about this recent move. He sees the DOJ’s decision as confirmation of his warnings that Trump would not be buying Bitcoin despite promising not to sell it. With Bitcoin Under The Cosh, Is Altcoin Season A-go? With volatility being the name of the Bitcoin game, it remains to be seen how it performs in the coming months, making altcoins all the more attractive. Here are our top picks for the…

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Filed under: News - @ January 9, 2025 3:25 pm