(BTC) Bitcoin News TodayCryptocurrencyNews

El Salvador President Says Bitcoin’s Price Value Will Grow Immensely After the Bear Market

On 7th September of the recent year, Bitcoin was sanctioned into a legal tender by El Salvador, when $50,000 was the price of the primary crypto token. After that up till now, many important returns have been collected on the behalf of the government under Bukele on their earliest BTC investments as the crypto asset touched $69,000 (which is its all-time high) and that became the reason behind several initiatives that the country took for its infrastructure’s development.

Nonetheless, as a significant decline is being witnessed in the price of the token at the moment, Nayib Bukele (the president of El Salvador) took to Twitter to advise the relative BTC investors (who may be cautious regarding the extended bear market) that they should not have any apprehensions regarding the current scenario of the coin. The president talked about the currency that is currently trading below $20,000 (for the first time during the span of the recent 18 months).

In the tweet, a piece of advice was given by Bukele to his fellow BTC investors, noting that they should bother about the position of the graph that shows the statistics of the top cryptocurrency and should engage in some other affairs. He expressed being hopeful about the return of Bitcoin in terms of value.  As per him, if someone has invested in Bitcoin he should keep in mind that his investment is secure and a massive upsurge will take place in the asset’s worth following the denouement of the bear market. The president said that they should not lose hope.

📰 Also read:  Trump's Crypto Silence Raises Industry Concerns: What to Know

The community gave mixed responses to the advice and several people mentioned that the country acquired a majority of the Bitcoin tokens in its possession at a considerably higher price compared with the present one. Although the critics anticipate that a downtrend of Bitcoin and the rest of the cryptocurrencies will continue, on-chain analytics indicate that BTC will shortly get back to its previous prestige.

Among the recommendations proposed by the crypto community to Bukele, for the current bear market, one was that Bitcoin Bonds should be launched by the country. While the world has its eyes fixed on the economy of El Salvador, the country’s finance Minister – Alejandro Zelaya – eliminated accusations that it has lost more than $40M. He disclosed that such a loss has not taken place as no tokens have been traded by it.

📰 Also read:  Google Finance AI Review – A Platform that Simplifies Online Trading for Everyone

At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.

📰 Also read:  Crypto.com to Delist USDT and 9 Other Cryptocurrencies in Europe on January 31

Mubashar Nawaz (United Arab Emirates)

Mubashar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content