As tensions rise amid falling BTC costs, President Nayib Bukele decided to share recommendation for fellow Bitcoin investors that may agonize regarding the prolonged bear market.
Nayib Bukele, the president who helped Bitcoin (BTC) gain monetary system standing in El Salvador, addressed the rising issues of investors as BTC began commerce for under $20,000 for the primary time in 18 months.
El Salvador introduced Bitcoin as legal tender on Sept 7, 2021, once its value was around $50,000. Ever since, Bukele’s government created vital returns on their initial BTC investments as Bitcoin rallied to its uncomparable high of $69,000, that was redirected to the country’s varied infrastructure development initiatives.
However, as tensions rise amid falling BTC costs, Bukele decided to share advice for fellow Bitcoin investors that will fret regarding the prolonged market.
In his tweet, Bukele advised fellow investors to “stop staring at the graph and luxuriate in life.” He reassured investors concerning an inevitable comeback, stating that:
“If you invested in #BTC your investment is safe and its value will immensely grow after the bear market. Patience is the key.”
The advice received mixed reactions from the community as many known the fact that El Salvador procured most of its BTC at a far higher worth than this value. while critics expect BTC and different cryptocurrencies to continue on the downward trend, on-chain analytics signal the oncoming of Bitcoin’s reversal back to its former glory.
Some of the popular suggestions to Bukele from the crypto community amid the bear market include launching the Bitcoin Bonds.
( Arijit Sarkar, Cointelegraph, 2022 )