Hello lovely people of Hive community. Hopefully you will be enjoying your life with good health and spirit. Friends, FTX debacle badly hit the crypto market. Global crypto market which was above $1,020 Billion before FTX issue slipped to $827 Billion. More than $190 Billion wiped out from the market.
Crypto market moves on news and event. One bad news badly effect the market. On the same way one good news may give huge pump to the market. One of the major reason of dip is high interest rate, soaring inflation and poor economic growth. Despite all the happening, crypto market is still able to maintain above $800 Billion worth. This is a good sign for the mraket.
Crypto market need good news to gain strength. President of El Salvador Nayib Bukele announced through tweet to buy 1 BTC everyday from tomorrow. This is a massive news for crypto market as it will help to build investors trust. Buying 1 BTC every day is not a big deal considering the daily trade of BTC but it is important to remember Bukele has almost more than 4.4 million followers. If only 10% followers take it seriously and invest in BTC it will give huge pump to crypto market.
Just imagine one tweet of Elon Musk who has more than 115 million followers will create impact on crypto currency. In my opinion good move by Nayib Bukele it will help to build investors trust and we can observe bullish run in market. What is your opinion my friends? This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.