El Salvador’s President Wants To Support You Amid Bitcoin Bear Market – CoinDesk

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With increasing stress amid a sharp fall in Bitcoin prices, President Nayib Bukele has decided to offer advice to Bitcoin investors who may be concerned about a prolonged bear market.

Bitcoin was legal in El Salvador on September 7, 2021. At that point, Bitcoin was priced at $50,000 since then. Governments are getting huge returns on Bitcoin investments as Bitcoin has soared to a level. All-Time-High at $69,000 which makes the country develop rapidly.

And now, with Bitcoin’s sharp fall, President Nayib Bukele has issued some advice for Bitcoin investors who may be worried about a protracted bear market.

President Nayib Bukele is the man who helped legalize BTC in El Salvador. spoke about the growing concern of investors This was caused by the Bitcoin price dropping below $20,000 in 18 months.

In his tweet, Bukele suggested it to fellow investors. “Stop looking at the charts and enjoy life,” he assured investors that Bitcoin will return.

“If you invest in BTC your money is safe. And its value will return after a bear market. Patience is the key.”

After he gave advice, many opinions came out. Because many people say El Salvador buys most of its BTC at a price that is much higher than its current market cap. And many commentators think that Bitcoin and Cryptocurrency will fall more But an analysis of data on On-Chain shows that Bitcoin is now reversing.

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In addition to the president’s advice to the crypto community The community has also suggested that he issue Bitcoin bonds.

As the world follows El Salvador’s Bitcoin economy, El Salvador Finance Minister Alejandro Zelaya Denied allegations about the country losing more than $40 million that

“How many times have I told you? that wasted 40 Millions of dollars didn’t happen because we didn’t sell Bitcoin.”

And when a reporter asked him about the rapid Bitcoin price drop, Zelaya replied: “In El Salvador There will be no criticism of the price of Bitcoin.”

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