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El Salvador’s Finance Minister Alejandro Zelaya said Friday that the country is looking for the right time to issue bitcoin bonds, possibly between March 15 and 20, depending on the state of the war in Ukraine. “We are still working out some details, almost everything is ready, the rest is a matter of time,” Zelaya said. El Salvador’s President Nayib Bukele plans to issue the country’s first $1 billion bitcoin bond this month and use the proceeds to buy more cryptocurrencies, and build a “Bitcoin City” that uses geothermal energy for crypto mining.
BTC has been trading between $38,370 and $39,485 during the weekend with relatively low volume, suggesting that neither bulls nor bears wish to make a move. Technically, nothing has changed since the cryptocurrency is still trading in the middle of the wide range between the support at $34,000 and the resistance at $45,500. If the bulls want to push the price further, they need to push it above the 20-days exponential average at $39,786.
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