Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻
This is not the best time for Bitcoin advocacy in and around El Salvador, as the Bitcoin adoption has been viewed as a bad idea by some segments of El Salvadorans because of its volatile nature, and seeing the present Bitcoin price conditions make it hard to b advocate for Bitcoin retail adoption.
That is what people fail to understand, the best time to buy or advocate for bitcoin is time like this when people are afraid to buy and wait for the next all-time-high. Salvadorans needs to know all these, you can check my later post about this. Some people will fail to buy and wait for like 2 years or 3 year and later after all-time-high, they will say the should have bought bitcoin at certain low price in the past.Of course, current spot price and ongoing dynamics related to BTC spot price is not comfortable for everyone, but I doubt that there is any need to just shut it off, wind it down or whatever other depression-based approach you are suggesting to be the better way forward.
El Salvador is not going to do that. That to their leader like their president, Nayib Bukele, minister of finance, Alejandro Zelaya and others that have learn bitcoin price history. They are there to help Salvadorans to know the true value of bitcoin and yet fiat remain accepted and working just like other countries that are botcoin friendly, what people do not know. I wonder how the price crash affects El Salvador, other than losing a lot of the fiat money that was invested into Bitcoin.
Your account was just created some days ago, probably you also start to know about bitcoin some days or weeks ago, you have a lot to learn before making conclusion.I think Anyone Bukele is right about this:
https://mobile.twitter.com/nayibbukele/status/1538356901297143809?ref_src=twsrc%5Etfw
It is a good advice, also a time for people that can hold for long like 2 or 3 years to buy bitcoin. I understand that price downturn can result to panic and uncertainty for new holders but who buys at risky time like this when bitcoin has significantly decrease will not lose in long term.