- Bitcoin price suffered a massive setback after breaching the $50,000 level on September 5.
- The recent flash crash pushed BTC to an inflection point where it contemplates a move to either $52,672 or $42,300.
- The large-scale adoption of BTC in El Salvador could change how remittance companies operate.
Bitcoin price has been through a massive sell-off that is still affecting the entire cryptocurrency ecosystem. BTC currently sits under a crucial level, which will decide its next course of action.
Adoption of digital assets penetrate as El Salvador’s recent decision
On September 7, El Salvador sealed the deal made on June 9 as it distributed $30 worth of BTC to each of its citizens who downloaded the new crypto wallet. Bitcoin was essentially air-dropped to the state-issued wallet known as Chivo. While there were protests, the country has officially started using BTC and even bought roughly 150 BTC during the September 7 flash crash.
Buying the dip
150 new coins added.#BitcoinDay #BTC
— Nayib Bukele (@nayibbukele) September 7, 2021
