Bitcoin Goes Up By 17 Percent – Boosted By El Salvador’s News

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By Crypto Vibe

BTC Goes Up By 17%

The news “Bitcoin goes up by 17 percent” maybe a spark of hope for BTC holders right now. The BTC market is observing a tough time with a flash crash occurring on Tuesday. While this may be valid, El Salvador is fast on the road to recognize Bitcoin as a legal tender in the Central American country. Soon after the news hit the world, the BTC price observed a 17% rise since Tuesday’s crashing market.

What’s Happening In El Salvador?

The Central American country, El Salvador is fast in the race of recognizing the importance of cryptocurrencies. A legal tender to adopt Bitcoin has served as a catalyst in the slow-crashing BTC market. If you are wondering how a legal tender in a Central American country affects the price of Bitcoin’s crashing market, you are not alone.

The Ripple Effect

As reported, several countries in the same region are perceiving this move as a positive sign for the whole region. This also means that we can foresee several other countries of the region following the footsteps of El Salvador in recognizing Bitcoin or any of the other cryptocurrencies.

It is safe to foresee several countries of the region indulge in the ripple effect. According to the news, some of the countries have already started to hint at endorsing cryptocurrency as a legal tender. These sudden advances in the Central American region are the key reason behind the 17% rise in the BTC price.

ETH, DOGE, And ADA Seeing Gains

As soon as Bitcoin goes up by 17 percent, the effect moved further to ETH, DOGE, and ADA as well. These cryptocurrencies have observed gains over the Wednesday timeframe. However, it is important to know that Bitcoin is not stable as of yet. It is crucial at this moment to say if this uptrend will continue or not.

Keeping the whole market picture in view, Thursday looks like it to be on the positive side of the charts for all the leading cryptocurrencies.