"Stop Looking at the Graph and Enjoy Life": El Salvador's President on BTC Price Slump
Godfrey Benjamin Jun 20, 2022 04:37
El Salvador's bitcoin-friendly President Nayib Bukele has shared a very important piece of advice to all Bitcoiners as the cryptocurrency ecosystem has continued to take a deep dive down.
El Salvador's bitcoin-friendly President Nayib Bukele has shared an advice to all Bitcoiners as the cryptocurrency ecosystem has continued to take a deep dive down.
Over the weekend, the price of Bitcoin slumped further from its earlier 18-months low to $17,708.62. With the price of Bitcoin going below what was earlier envisaged, altcoins like Ethereum (ETH), Solana (SOL), Binance Coin (BNB), and Cardano (ADA) amongst others also saw multi-year lows, signalling a full-blown crypto winter.
With this bearish outlook in place, Nayib Bukele took to Twitter and asked his followers with interests and investments in Bitcoin to forget about the charts and explore other things. Per his words:
“I see that some people are worried or anxious about the #Bitcoin market price. My advice: stop looking at the graph and enjoy life. If you invested in #BTC your investment is safe and its value will immensely grow after the bear market.”
Those who have been following events in the space will recall that El Salvador under Nayib Bukele became the first country to legalize Bitcoin and make it a legal tender on its shores back in 2021. Since then, Bukele has been buying Bitcoin dips, with a lot of other proposed projects anchored on Bitcoin.
While Bukele is amongst those reeling from the current fall in the price of Bitcoin, he added in the tweet that “patience is the key” to getting the most out of any investment that one may have in Bitcoin or other altcoins at the moment.
The current collapse of crypto prices has stirred quite a number of ugly operational incapabilities among crypto entities. Celsius Network, Babel Finance, and Three Arrows Capital (3AC) are amongst the few companies feeling the heat of the ongoing crypto market price slump.
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