Bitcoin crashes to $42k, and El Salvador buys more bitcoins. The crypto market turns to red with the huge sale volume.

As Bitcoin Dips, El Salvador Buys More Bitcoins

The crypto market has followed the crash in Bitcoin, and the market lost about 10% in market capitalization. Bitcoin has 41% dominance in the crypto market, and the price fluctuations affect the market significantly. The total market capitalization of cryptocurrencies has slipped down below $2 trillion. It is the 4th time that the crypto market is below $2 trillion during September 2021. If the crash continues market cap will go below $1.9 trillion. At the time of writing the market cap was $1.92 trillion.

Total Market Capitalization

Bitcoin Dipped Below $43k

Bitcoin had a major crush today with losing 5k within a few hours. In the early morning, the price was around $47k, and slightly after that, the price dumped significantly. According to Tradingview, the price went below $43k and dipped almost to $42,5k, and shortly after, the buying pressure caused the price to bounce over $43k. It was the second huge dip since September 7th. On September 7th, bitcoin had lost $10k value and touched $42,900.

At the time of publishing, the price of Bitcoin was $43,281.

The market capitalization of Bitcoin has also decreased below $900 billion. At the time of writing, the market cap was $816.1 billion.

Bitcoin Dipped Below $43k

El Salvador Bought More Bitcoins

The country where Bitcoin is legal tender for transactions has purchased additional bitcoins. The president of El Salvador, Nayib Bukele has announced the purchase on his Twitter account. The president saw this dip as an opportunity to increase the bitcoin balance of El Salvador. According to the tweet, 150 bitcoins have been added to the reserves of El Salvador. Officially stated, the country now has 700 bitcoins in reserves.

Previously, the last time when El Salvador bought bitcoin, the price has fallen down below $43k. However, this time they bought the dip, at an almost $44-45k price level.

Disclaimer: All information provided in the content is for informational purposes only and should not perceive as investment, financial, or trading advice. Any investment decision you make should be a personal choice based on financial knowledge, experience, and market research.