El Salvador introduced Bitcoin (BTC) as legal tender on September 7, 2021
When its market price around $50,000.
Ever since, Bukele’s government made significant returns on their initial BTC investments
As Bitcoin rallied to its all-time high of $69,000
Which redirected to the country’s various infrastructure development initiatives.
And now, El Salvador president addresses bear market concerns with Bitcoin hopium
As tensions rise amid falling BTC prices,
President Nayib Bukele decided to share advice for fellow Bitcoin investors that may be concerned about the prolonged bear market.
Nayib Bukele, is one of the Bitcoin (BTC) gain legal helper
After his effort, BTC gain the legal tender status in El Salvador,
It impacts addressed the rising concerns of investors
As BTC began trading for under $20,000 for the first time in 18 months.
Then, The El Salvador President gives his advice to all investors
He highlights that patience is the key in this situation
In other side, the advice received mixed reactions from the community
As many pointed out the fact that El Salvador procured most of its BTC at a much higher price than the current market value.
While critics expect BTC and other cryptocurrencies to continue on the downward trend,
On-chain analytics signal the oncoming of Bitcoin’s reversal back to its former glory.
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