Quote from: Welsh on June 17, 2022, 10:01:45 PM

Right. Although, if they don't hold through the dip, we might see Bitcoin go on sale even more. Since, its confirmation bias for a lot of people, that if it fails in El Salvador they'll see it as a risky investment, which will never be adoption by serious businesses or countries again. I'm definitely not saying they're right in thinking that, but they will absolutely think it.

I definitely see how that could happen. Many holders are moved by sentiments, reason why we can see huge sell offs once the price turns down leading to more dips. This is of course becoming less of an influence with time and traders are not as moved by the action of certain individuals, but a country cutting ties with Bitcoin would be a big deal.

Quote from: Welsh on June 17, 2022, 10:01:45 PM

I don't mind the price dropping a little further, but I'd rather El Salvador cutting their loses not be the cause of it as it could significantly hurt adoption in the medium term, at least from a legal tender point of view.

It could also show others who get in that the market can turn different ways and you should be prepared to handle dips.