BTC dropped down from $52,000 to $46,000 after El-salvador's BTC adoption grant within an hour!

[sincerem]

Did you notice the swift fall of BTC within the time interval of one hour today?

It happened moments after El-salvador's BTC adoption was accepted for them to use BTC as a means of legal tender in their country and also for international transactions.

BTC drop down have seen it go -10.61% in the last 24 hours. -8% price reduction came within the space interval of one hour after El-salvador's declaration. Such kind of free fall is really disheartening to traders cos it will affect their short term trade which makes them record swift loss.

I see lots of traders today panicking for such kind of price U-turn around BTC via social medias and in forums etc. But we know such kind of scenario isn't secrete when it comes to BTC. It is known for surprises full of drama, moving up high and falling down freely at times.

 

[btaliat]

Yesterday was a reflection of what happened sometimes in April. Bitcoin recorded fall again and this time as a usual, it didnt go alone, there are other altcoins that went down with him. The only coin that recorded about 107% increment according to binance, is IDEX. I don't even know that this is as a result of El Salvador's adoption.

 

[Alexandoy]

Yes, I have read about the sudden drop of the value of Bitcoin from $51k down to $45k today. It makes me wonder how El Salvador can use the Bitcoin for their currency when the Bitcoin is only a commodity and a digital commodity at that. A currency is money as a pecuniary measure for products and services. How can Bitcoin be a pecuniary measure when its value is changing every hour?