El Salvador’s Bitcoin Decision
All crypto investors expect these investments to be commercially available. Otherwise, there will be an unrequited wait. Will these expectations be met?
There was a rapid decline in Bitcoin after the decisions taken by the Chinese Government and the Central Bank. In addition to this development, the downward trend continued after Elon Musk’s tweet, in which he stated that the energy used in Bitcoin production harms the nature.
After these developments, which worried Bitcoin investors, both investments in cryptocurrencies decreased and there was a record decrease. BTC, which exceeded $ 60,000, fell below $ 30,000.
Support for Bitcoin from President Nayib Bukele
Is this a crisis or an opportunity? Bearish or bull start? The falling BTC value also negatively affected the prices of other altcoins. There are those among crypto investors who see this as an opportunity. Thanks to those who invested the low price in crypto money as an opportunity, the price rose again. Of course, it did not reach the desired level.
After the Central American country, El Salvador, accepted Bitcoin as a legal tender, the highest-volume unit in the cryptocurrency markets surged more than 6.0 percent to over $35,000.
El Salvador’s President Nayib Bukele told Congress ahead of the vote that the new regulation, if approved, would bring “investment, tourism, innovation and economic development” to his country.
In the approved law, it was stated that Bitcoin can be used unlimitedly in any transaction, and that public or private natural or legal persons can use it unlimitedly to bring them to their obligations.