Hello my dear @cryto.piotr One of the important points you make is the relationship between the news that in Salvador the Bitcoin is an official currency and the collapse of it, in my opinion these news certainly affect either positively or negatively, in this case the news was outlined as an investment opportunity, however, something that perhaps investors did not know and only people living in El Salvador or Central American countries is that this measure generates more poverty and a collapse of the domestic economy of these small countries which is reflected in these market declines.
It turns out that on the first day that it was announced that in El Salvador Bitcoin could be officially used, the government also mentioned that citizens could download mobile bitcoin wallets on their phones and pay in establishments, however, that day the wallet was not available to be downloaded to phones and small traders and people who do not have large incomes began a series of protests against this measure because according to them very few are those who know and understand the world of cryptocurrencies. Even from that same day in the central bank of El Salvador is announced on its home page the registration for Bitcoin service providers, but still many do not know how to do it or do not understand it, from there then it is not surprising that this measure that seemed at first to be encouraging for investors who decided to leverage and even use more Defi to acquire Bitcoin has generated a slight stagnation and subsequent collapse in the market. I differ with you friend @cryto.piotr regarding that "At the same time I do not think price of Bitcoin has potential to move much lower below current price levels." On the contrary I think that if there is a possibility that it reaches a lower level than the current one precisely caused by the pressure that at this time Salvadorans are exerting through protests to the government so that this measure is reversed and that creates distrust and panic in investors. Being positive, waiting is surely an option, but at this moment the pressure on the value and the rejection of Bitcoin generates chaos.
I tell you that in my country Venezuela is conducting a campaign by the government for education in Bitcoin in the country there is a digital currency or cryptocurrency that circulates internally and that the government has tried to implement officially called "Petro" but this is not accepted even in government entities even though public employees already receive payments in that cryptocurrency and in addition to that we were automatically created a wallet in an internal exchange platform of the country that can not connect with other wallets on other platforms and much less with state banks, here is a real chaos although the government tries to make us all adapt to the world of cryptoassets, however, more than 80% of the population does not have access to cryptocurrencies because there is no purchasing power for it and much less understand them, now do you think that what is happening in the countries of Central America and Latin America regarding the implementation of cryptoassets as official currencies will have a positive impact on investments in Bitcoins? Because I don't think so.By the way, I really like these interaction initiatives. You should consider having a weekly session with us just to discuss this and other community issues. Best regards