(10/17, Sun) btc got adjustment after hitting short-term high of $63100

Yesterday(10/16 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $61713, its lowest as $60206, its highest as $62406, its closing as $60923. Bitcoin rose after the start on Saturday, reaching a high at 05:15 and then starting to decline, reaching a low at 17:30 and then rising, ending a final -1.3% decline.

Looking at the 4-hour chart, Bitcoin, which reached its short-term high on the previous day, was corrected and fell to around 60k, which is unlikely to lead to a major decline considering the very small trading volume. On the daily chart, it seems that Bitcoin, which rose sharply the previous day, got a simple correction.

According to a news in the cryptocurrency industry, it is said that the amount of overseas remittances El Salvador receives in bitcoins has exceeded $3 million per day in USD with 24,076 remittances. This is exactly the scenario that the El Salvador government wanted, and it is a method that can significantly save fees as overseas remittance is made in Bitcoin, and is considered an attempt that is well considered in other countries in the future. In many developing countries, if Bitcoin is used for overseas remittances, the demand will expand and it will greatly contribute to Bitcoin's "To the Moon."