As you probably know by now, the crypto market was suddenly crashed the other day, just following the news that El Salvador made Bitcoin a legal tender.
While the crypto space was celebrating and no one was expecting it, Bitcoin’s price started to crash, and it obviously dragged the other coins down.
Crypto Twitter started making all kinds of assumptions, and you can see a relevant one below.
So, on the exact day that El Salvador launches Bitcoin as a legal tender against the wishes of the World Bank and IMF , mysteriously every single major exchange goes down at the same time as the price crashes by 20%…
— Ran Neuner (@cryptomanran) September 7, 2021
El Salvador buys the dip
On the other hand, lots of important and relevant personalities in the crypto space said that it’s accumulation time and advised investors to buy the dip. This is exactly what El Salvador did, anyway.
Check out the following tweet below.
Buying the dip 😉
— Nayib Bukele 🇸🇻 (@nayibbukele) September 7, 2021
He continued and said the following:
“It appears the discount is ending Smiling face with tear Thanks for the dip @IMFNews. We saved a million in printed paper. El Salvador now holds 550 bitcoin. #BitcoinDay #BTC Flag of El Salvador.”
The speculations continue on Twitter, with people dropping all kinds of posts.
A follower said: “Perhaps it was a sell the news situation that tipped the balance for a cascade of liquidations for over leveraged longs. The DOS attack was simply timed when the market was vulverable to have maximum extortion effect. I don’t see conspiracy, just human behavior.”
Someone else posted this: “Are you saying that the WorldBank bought bitcoin beforehand,or sold it to create panic? So that means they feel an incredible threat of inflation bastards it means their money printing machines are threatened. It means that despite bitcoin’s falling price – bitcoin is the goodguy.”
You should check out the thread below Ran Neuner’s post in order to see more opinions coming from Twitter crypto fans.