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Bitcoin Losses $7k As Market Declines To $60K

Bitcoin, After several days of multiple surge, is seeing a hard decline recently. Currently, Bitcoin makes corrections in the past 24 hours, declining below $60,000 briefly.
Of course, Most altcoins are following the trend. Also, the entire market cap losses over $150 billion since its peak this week.

$7K Lost In Bitcoin In Matter Of Days

Furthermore, the first-ever Bitcoin Futures ETF going live in the United States on Tuesday happens to be the news headline. This causes BTC to engage in a massive bullish run. More so, it breaks through its April ATH, creating a new one at $67,000.

However, bitcoin sees a sharp decline from that high. Notably, bears start to push it south slowly.

Notably, Within just 24 hours, the cryptocurrency continues losing value.
Additionally, BTC declines to just under $60,000, representing a $7,000 loss in a few days.

Currently, BTC is recovering some ground. But, it’s still 4% down on the day, and its market capitalization is below $1.150 trillion.

Nayib Bukele, El Salvador’s president Considers Buying More Bitcoin Dip


Nayib Bukele, El Salvador’s president confirms the world’s first country with Bitcoin as its legal tender is considering buying the Bitcoin dip. Although, Nayib Bukele says the correction is still small and wants a better correction before making the purchase.

“Should we buy the dip? Or is it too small? 🤔”
“Come on guys, we need a better discount here!#Bitcoin🌋🇸🇻”

— Bukele 🇸🇻 (@nayibbukele) October 23, 2021

Furthermore, Nayib Bukele’s interest in Bitcoin makes him the main brain behind El Salvador’s BTC adoption. So, El Salvador records a total of 700 BTC purchases throughout September. Then, the top cryptocurrency trades under $45K.
Although, Bukele was criticized as their purchase value was on the decline.

However, as $BTC gears towards a new ATH, El Salvador’s Bitcoin holding goes into millions of profit. Also, the profits is now for building hospitals and other national projects.
Also, Nayib Bukele shares a photo of himself sitting on the throne showing him as the king after BTC ATH.

“#NewProfilePic
pic.twitter.com/YYF5XiQL8R — Nayib Bukele 🇸🇻 (@nayibbukele) October 21, 2021

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.