• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Breaking News: Crypto Giant Binance In Hot Water: CEO Responds To Trading Violation Claims
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Crypto Giant Binance In Hot Water: CEO Responds To Trading Violation Claims
Bonds In El Salvador's Markets Struggle To Thrive Following Bitcoin Law
Advertisement

Bonds In El Salvador’s Market Struggle To Thrive Following Bitcoin Law

Asad Gilani by Asad Gilani
2 years ago
in Bitcoin
0
Advertisement
Advertisement

The ongoing bitcoin adoption in El Salvador seems to be causing a lot of issues. But, for now, it seems to be the turn of Bond investors. The yields have recently spiked as investors show signs of uncertainty on what the economy holds in store.

According to a Bloomberg report, the bonds yield curve has inverted, showing that short-term bonds now have higher yields than long-term bond options.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

Related Reading | El Salvador’s Bitcoin Journey Kicks Off With A Bummer, BTC Price Crashes

The report stated that this sign is not good for the bonds market. It shows that investors see these bonds as riskier than the long-term ones. As a result, the yield curve will move upwards due to the uncertainty of the longer-term pricing.

First Day For Bitcoin Law And Bonds Decline

According to Ben Emmons, working with Medley Global Advisors, the bonds in El Salvador lost ground on the first day of the law. As a result of this movement, Emmons said that the market action shows that using Bitcoin in the country might lead to unforeseen situations.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

But Emmons is not the only one making the same assessment. According to the data from Bloomberg, the bonds started the move to inversion a few months back.

This was June when the parliament passed the Bitcoin Law. President Nayib Bukele has raised the controversial bill to legalize Bitcoin as a legal tender in the country.

Is The New Law Causing The Bearish Trend?

Many market observers think that the Bitcoin law alone is not responsible for the bearish trend in El Salvador bonds. The present pressure is a result of many factors. Many others have said that Bukele ousted the constitutional tribunal last May led to a lot of negative sentiment.

Many people think that his economic vision is not a very encouraging one. At the top of it all, the President fired the El Salvador attorney general plus many other prominent judges. This is why many people believe that his interest towards Bitcoin also triggers the bearish trend in the bonds market.

Bonds In El Salvador's Markets Struggle To Thrive Following Bitcoin Law

Bitcoin keeps falling after getting rejected by the $51k zone | Source: BTCUSD on TradingView.com

For some months now, the spread between the country’s bonds and US Treasuries has been widening. As of August 12, it reached 77%. Another thing worth noticing is that the President failed to sign a deal with the IMF. This failure has also affected the way investors view the bond market.

Related Reading | Demand For Crypto Mining Rigs Surges In Vietnam Due To Bitcoin Growth

In another report, many citizens of El Salvador are complaining about the technical issues surrounding the “Chivo” digital wallet from the government. This is also discouraging, given that the Bitcoin law took effect a few days ago.

Featured image from Pixabay, chart from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Asad Gilani

Asad Gilani

Asad is a freelance writer. He is interested in cryptocurrencies, technology, and in particular the subject of online security. An open supporter of freedom of speech, privacy, and equality for all. On a personal level, he likes to stay socially active, loves playing snooker, cricket, enjoys seafood and loves listening to folk music.

Related Posts

Bitcoin (BTC)

‘Nobody will Get Rich Investing In Bitcoin Ever Again,’ Crypto Analyst Sparks Debate

7 hours ago
Bitcoin Price Reclaims $28,000 As Core PCE Comes Cooler Than Expected

Bitcoin Price Reclaims $28,000 As Core PCE Comes Cooler Than Expected

10 hours ago
Bitcoin BTC mining energy

Will Greenpeace Change Its Mind On Bitcoin Now? New Report

15 hours ago
Bitcoin

Research Firm Breaks Down Impact Of MicroStrategy Purchases On Bitcoin Price

1 day ago
Bitcoin

Bitcoin Open Interest Shoots Up With Price Rise, Long Squeeze Brewing?

1 day ago
Bitcoin

Bitcoin: Why This Is The Best Time To Buy The Crypto, According To R. Kiyosaki

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Trending Projects

  • 5 Best Upcoming ICO List of March 2023

    1 week ago
  • Crypto Investment for Long term: 3 Coins to keep your eye...

    1 week ago
  • Cryptocurrency to invest in March 2023

    1 week ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
UU.Game
UU.Game
K8
K8

Press Releases

  • XRP whales are preparing for a big rally. Here is a new...

    2 hours ago
  • European Crypto Market Surge – Big Eyes On A Bull Run...

    4 hours ago
  • Bitcoin is Top Crypto, Ethereum Best Altcoin, Introducing...

    5 hours ago
  • With banks closing Left-Right and Center, Bitcoin...

    11 hours ago
  • Solana (SOL) or Aptos (APT)? TMS Network (TMSN) will return...

    12 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
  • Play Finance

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.