President Nayib Bukele announced on Twitter that his country had missed the bottom price by seven minutes.
fell by more than 20 percent on Saturday amid general instability in world financial markets that may be partly due to the new Omicron variant of COVID-19.
Bitcoin, the largest cryptocurrency, fell as low as $41,967.50 before making some gains following the decline. That represents a total loss ofEther, the second largest cryptocurrency, also suffered losses on Saturday, droppingOmicron Crypto Hits All-time High Amid Volatile Markets As Variant SpreadsAlmost a billion dollars worth of cryptocurrency was sold off on Saturday and some took advantage of the declining price.
The nation of El Salvador purchased bitcoin as the price dipped, according to the country's president, Nayib Bukele."150 coins at an average USD price of ~$48,670," the president said, adding celebratory emoji and a Christmas tree.El Salvador adopted bitcoin as legal tender and the digital currency's value is also up by more than 60 percent this year despite the sharp decline on Saturday.
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