Bitcoin Twist On the El Salvador Day

[TomPluz]

Two days ago, the country of El Salvador has made it official that Bitcoin is already a legal tender...but the day did not come without some twists and turns. One major event was the retreat of Bitcoin from around $52K to around $46K...and I am really wondering why this had happened. Is it because the market has some fears about this historic adoption of Bitcoin by a country or is this just another joke from Bitcoin? I would prefer to think that Bitcoin is making a retreat so it can gain more energy for the eventual big jump either in this month or by October...

[mlawson71]

I was wondering yesterday what was happening. I did not know it was El Salvador's adoption of BTC that caused this, even though I was aware they were going to adopt it.

[Master107]

The retreat could be the showcase of manipulation from someone(group or big people) behind the scene. Imagine the big amount of money that was liquidated around $2B. Nobody expected that dip correction in a short time frame. I guess good time for El Salvador to accommodate more Bitcoin.

[mlawson71]

Assuming that is what happened, what was the purpose of doing it to coincide with El Salvador's adoption of Bitcoin?

[TomPluz]

The retreat could be the showcase of manipulation from someone(group or big people) behind the scene. Imagine the big amount of money that was liquidated around $2B. Nobody expected that dip correction in a short time frame. I guess good time for El Salvador to accommodate more Bitcoin.

And they did buy the dip really...it was a good opportunity the president of El Salvador took advantage of...and that is something I admire of this man because instead of showing some sign of doubt he instead gobbled up the opportunity. anyway, this is just one of the mild teething pains the country may experience because of Bitcoin but after the initial problems there will be more opportunities. I am really wishing that El Salvador will plan to welcome many crypto-related business into the said country so their citizens can be happy because of the possible job creation opportunity that can happen.

[Cryptoz]

There are several reasons why Bitcoin prices actually fell at that time, even at the time of the number of Bitcoin purchases.
And because of that, El Salvador is grateful because it can buy more Bitcoin.
Isn't this something that isn't a coincidence?
Maybe there is indeed a big enough game out there.
In particular, there is a bad issue at the same time. And also there is opposition from several countries and also related institutions of decisions from this country.

[yohananaomi]

There are several reasons why Bitcoin prices actually fell at that time, even at the time of the number of Bitcoin purchases.
And because of that, El Salvador is grateful because it can buy more Bitcoin.
Isn't this something that isn't a coincidence?
Maybe there is indeed a big enough game out there.
In particular, there is a bad issue at the same time. And also there is opposition from several countries and also related institutions of decisions from this country.

despite the controversy that occurred with el savador accepting bitcoin as a legal and recognized means of payment. Of course there must be an appreciation that is done and an action that is not easy and includes courage by the leader of the country. let everything that happens at the same time be something to be grateful for. hopefully with this incident, bitcoin will be able to be more appreciated and able to increase again. so there is a distinct benefit of this unexpected event.

[mlawson71]

I hope that when Panama does the same sometime soon there will be less conflict and controversy, that will be better for everyone.