German sell off of button as of that time really had effect in the market because many will assume that what would make the government of such a big country result to selling off their bitcoins when it was in dip, could they have foreseen something to have taking that decision? It was a question of thought and some people may have panicked sell alongside with them which affected the market for a while.

From that time till now, we can see how the market has outperformed all odds and made it this far, they may not have regretted their actions but it is a reminder that not all big institutional or government bodies influencers in the market are to be followed or are always correct in their decision making about the market.