This has signalled an influx of mentions of “crypto winter” and “crypto ice age” on social media amid the latest drop. “Gm gm – make sure you stay warm, crypto winter is in full force,” Twitter user @brycent_ posted on Monday, using the crypto shorthand for “good morning” to start his tweet.
At 2:36pm, bitcoin is trading at US$36.115 on Jan 25.
On Jan 22, President of El Salvador Nayib Bukele tweeted that he has bought 410 bitcoin for US$15 million with the recent dip.
See also: Bitcoin hits record high of US$120,000 as bullish momentum builds
Previously in June 2021, Bukele had announced that he planned to introduce a bill to the Legislative Assembly which would make El Salvador the first nation to make bitcoin a legal tender.
Meanwhile, Indonesia's Financial Services Authority (OJK) has warned that financial firms are not allowed to offer and facilitate sales of crypto assets amid a boom in crypto trading in Southeast Asia's largest economy, according to a report by Reuters.
See also: Alexander Hamilton’s three lessons for stablecoins
"OJK has strictly prohibited financial service institutions from using, marketing, and/or facilitating crypto asset trading," the regulator said in a statement that was posted on Instagram.
Indonesia allows sales of crypto assets in the commodities exchange and trading is supervised by the trade ministry and the Commodity Futures Trading Regulatory Agency, not by the OJK.
Photo: Bloomberg
