Bitcoin crashed below 1 trillion dollars for the second time this year 2021 as panic selling pushed the asset to lose 18.78%, it however created history representing one of its largest drop in a day since the 50% crash of May 2021. Its market cap at the moment of writing this article stands at approximately $900 million.
Bitcoin started the 4th of december by trading at $53,598, however, due to the sell-off, it lost over $10,000 in 4 minutes, to trade as low as $42,530, according to data from binance.
Data from Coinglass also reveals that $1.97 billion worth of leveraged longs got liquidated Due to the sell-off in the market.
El Salvador purchased 150 BTC as the bitcoin price falls below $50,000
The President of El Salvador, Nayib Bukele has apportioned a few of his country’s treasury into Bitcoin, as he ‘Buy the dip’, anytime there's a price drawdown in bitcoin. Alot of his fans in the cryptocurrency market are now calling the President of El Salvador a CEO because he manages his el salvador like a company.
Today the president of el salvador Bukele took to Twitter to announce that his country, El Salvador, just bought an additional 150 BTC, adding to the 100 BTC the country bought when Bitcoin’s price fell below $60,000.
Well this is the best time to buy Bitcoin and other coin because majority of them turn red now and am kind of sure it will increase in price. President of El Salvador is just trying to boost his country economy through crypto that all.
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This is kind of not the best time to buy bitcoin because one of the reason bitcoin crashed recently was because the traditional market was doing bad, until the traditional market starts to look normal before i buy any bitcoin
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