Bitcoin price recovers from slump as 44 countries meet El Salvador to discuss BTC – FXStreet

Ekta Mourya Ekta Mourya
FXStreet

Bitcoin price started recovering after the bloodbath with Salvadoran President Nayib Bukele's announcement of 44 countries attending a meeting to understand how to include BTC in their financial plans. Bitcoin price made a comeback above $30,000, starting its upward climb. 
President Nayib Bukele of El Salvador announced a meeting of 44 countries to discuss Bitcoin and financial inclusion. Bukele revealed that 32 central banks and 12 financial authorities are meeting in El Salvador, and the agenda is the digital economy and banking for the unbanked. 
El Salvador's adoption of Bitcoin as a legal tender has introduced several benefits in the country, and authorities are keen on collecting further information to develop their strategy to include Bitcoin in their economy and economic expansion plans. 
Tomorrow, 32 central banks and 12 financial authorities (44 countries) will meet in El Salvador to discuss financial inclusion, digital economy, banking the unbanked, the #Bitcoin rollout and its benefits in our country.
According to the President's official Twitter handle, the meeting is scheduled to occur on May 17, 2022. The list of countries attending the Bitcoin meeting includes several developing economies. 
The meeting is a milestone event, and proponents expect a positive impact on Bitcoin adoption, utility and price in the long term. 
An indicator reveals the positive sentiment among Bitcoin investors and market participants on the Bitfinex exchange. @JohalMiles, a leading analyst, evaluated data from Bitfinex and noted that longs have never been near the high being seen on the charts. This implies a large number of BTC traders and investors are bullish on Bitcoin. 
To put this in perspective, Bitfinex longs have never been anywhere near this high before.

Or increased so quickly.$BTC pic.twitter.com/5eWajPZPU3
Bitcoin price started its upward climb ahead of President Nayib Bukele's announcement. Bitcoin's recovery started over the weekend, and the asset has made a comeback above $30,000. 
Analysts have evaluated the Bitcoin price trend and predicted a massive recovery rally in the asset. @CryptoDonAlt, a leading analyst and trader, believes a close above $31,800 indicates a breakout in Bitcoin price in the current circumstances. 
$BTC

Exciting weekly close incoming.

>$31800 would be massive, especially considering the current circumstances pic.twitter.com/snxwfM3F01
 

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