El Salvador Converting Their USD to BTC amidst Rises in Bitcoin Interest

El Salvadorans are utilising US money to purchase bitcoin as interest in the asset class grows. A month after El Salvador’s Bitcoin law went into force, interest in the cryptocurrency has continued to rise as a higher number of citizens change their USD into BTC.El Salvador’s in-house crypto wallet software – Chivo – has reported over 24,076 remittances, amounting to a huge $3,069,761.05 in a single day, according to a tweet published by the country’s president, Nayib Bukele. Furthermore, President Bukele stated that the pace at which Rises in, Salvadoran convert more of their USD to BTC is substantially higher than the rate at which they withdraw from their wallets at the approximately 200 Chivo BTC ATMs located around the nation.

Bulls Could Aim for a Larger Rally if Ethereum Sees a Key Upside



BreakEthereum(ETH) has broken over the $3,800 barrier level against the US dollar. However, the price of ETH has failed to rise beyond $3,900 and is presently consolidating gains. Ethereum has begun a new uptrend over the $3,750 and $3,800 barrier levels. The price is presently trading over $3,800 as well as the 100 hourly simple moving average.

Dips Is ETH supported?

If Ethereum fails to rise above the $3,890 and $3,910 resistance levels, it may begin a new downtrend. On the downside, an early support level is near $3,820. The first major support is presently building between $3,800 and the 100 hourly SMA. If the price falls below the $3,800 support level, it may fall even more. The next critical support level is around $3,720.