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22 June 2021

New report: El Salvador Bitcoin pump failed to attract smart money, for now

New report: El Salvador Bitcoin pump failed to attract smart money, for now


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He also announced that El Salvador would use excessive volcano energy to mine the cryptocurrency, weeks after Tesla CEO Elon Musk ended its Bitcoin payment support over its alarming carbon footprints.

The chartered financial analyst said that Wednesday's upside sentiments in the Bitcoin market remained weak even after the El Salvador news.

Lily said that market movers are not behind the El Salvador Bitcoin price pump, noting that "they are letting price move about unencumbered."

The move uphill suggested that traders offloaded their altcoin positions to seek opportunities in the Bitcoin market, especially as the cryptocurrency became an official legal tender in El Salvador.

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cointelegraph.com
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