As it is known, Bitcoin fell below $20,000 yesterday for the first time since December 2020. At the time of this writing, the Bitcoin (BTC) price is trading at $ 18,600. The panic in the crypto money market seems to dominate and investors are uncomfortable with this situation.

El Salvador's President, Nayib Bukele, asked to remain calm and patient in such difficult times. President Nayib Bukele wrote in a message he published on Twitter:

   "I see that some people are worried or anxious about the #Bitcoin market price.

My advice: stop looking at the graph and enjoy life. If you invested in #BTC your investment is safe and its value will grow immensely after the bear market.

Patience is the key."

The value of El Salvador's Bitcoin (BTC) investments has already dropped more than 60%. The Latin American country started buying Bitcoin (BTC) in August 2020 and has so far added more than 2,300 Bitcoin (BTC) to its treasury. The country's last Bitcoin (BTC) purchase had come in early May.

Peter Schiff

Bitcoin Critic Peter Schiff Claims Crypto Industry Is Dead

Shortly after the US inflation data on June 11, Peter Schiff predicted that the total market cap of the crypto industry would fall below $800 billion, and that's exactly what happened over the past week. In one of his recent tweets, Peter Schiff made an assertive comment that the crypto market is dead. Bitcoin (BTC) critic wrote:

   “Many in the crypto industry say this crash is a healthy shakedown. I agree that it is healthy, but not for crypto. This industry as we know it is dead and that is very healthy for the economy. Crypto probably has a future, but Bitcoin will not be a part of it.”