The website cointelegraph.com reports that ‘Mr Nayib Bukele‘ presidentEl Salvador Addresses Bitcoin Price Concerns Amid Protracted Bear Market that makes investors indigital currencytension
El Salvador openedbitcoinIt became legal on Sept. 7, 2021, with a market price of around $50,000 since then. Bukele’s government received a significant return on their bitcoin investment, as bitcoin soared to a record high of $69,000, which was used for the development of the country’s infrastructure.
However, as tensions rose amid the decline in bitcoin prices, Bukele decided to share some advice for bitcoin investors who may be concerned about a prolonged bear market. As Bitcoin is priced below $20,000 for the first time in 18 months.
Mr Bukele tweeted a message through a personal account called @nayibbukele recommend to fellow investors “Stop looking at the charts and enjoy life” and gives investors confidence about the future Bitcoin price comeback. “If you invest inbitcoin Your investment will be safe. And its value will increase exponentially after the bear market ends. which requires patience is the key,” Mr Bukele said.
El Salvador’s Finance Minister Alejandro Celaya denies allegations about the country losing more than $40 million frombitcoin He stated, “I said it over and over. The 40 million dollar loss is expected not to occur because we are not selling the coins.”