While the market was in turmoil due to the crash of FTX and its consequences, President El Salvado shared that he will buy 1 BTC a day starting tomorrow. Immediately TRON CEO Justin Sun also responded to this movement.
Analysts are trying to gauge the upcoming movements of digital assets as the market is fraught with volatility, such as the FTX scandal that has shaken the entire crypto industry.
The past few days, the crypto space has been rocked by the collapse of the SBF empire. However, BTC and cryptocurrencies, which have been affected by poor player sentiment, have stabilized around $16,000 so far. The extent of the damage to other companies, funds, and exchanges is not yet known, and will likely be announced in the coming weeks.
This is not the first time, Justin Sun has responded to the Bitcoin buying movement. Earlier, the founder of crypto platform Tron, said he bought another 150 BTC when the market crashed on December 4 “to match the offer of the CEO of El Salvador” when the previous president the country bought 150 BTC.
Bitcoin is currently trading at $16,568, down 1,745 in 24 hours. Can the movement of President El Salvado have a positive impact on the market?
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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