I have noticed that many people among us prefer to also discuss on USD/NGN price speculation. Some people even prefer BTC/USD pair because they can easily know the price dollar to naira and bitcoin to dollar. So we can discuss about these two pairs now.
Despite all the dramas that were on news, I noticed that this thread has not be active as it was before. But I think if we discuss about USD/NGN also, here can be enliven again.
You can see the price of naira falling again. It fell below $1400 but now at $1357.
Topic: Bitcoin price speculation (BTC/NGN) (Read 2148 times)
speculating on bitcoin future value can be exhilarting, espescially with the approaching halving and current market dynamics. the anticipation of reaching a (ATH) of 100$ this year can either or neither be. Although, we might see it surging after the post-halving but time will unveil the outcome in the following months
After hitting a new ATH against dollar (1BTC = $68,912.84) the new ATH against our naira is 1BTC = 107,573,639.129 NGN after which there was a significant dip to 95,004,969.151 ($60,861.22) NGN before retracing back to 103,612,355.538 NGN ($65,821.10).
source: Coingecko
The fall was from investors who were selling, as we could see that Mempool was congested at that time but I guess we might still see another ATH before halving since it is currently sitting against US Dollar at $65,821.10
source: Coingecko
The fall was from investors who were selling, as we could see that Mempool was congested at that time but I guess we might still see another ATH before halving since it is currently sitting against US Dollar at $65,821.10
Currently it shows that Bitcoin's price came down a bit from $63k to $61k but with the increase rate for the week I believe it will still find its way back up, and it might even hit the ATH next week at this increase rate. Wattin Bitcoin chop wey make am they grow like this? The thing just dey sweet me as I dey see the growth because na just profit full everywhere. I nor fit predict say Bitcoin go reach $150k as ATH now oo but I know say e dey very possible in time coming but for now, I just predict the range of 80k -100k even with the Bull run after the halving but if e increase pass like that na still to my favour.
I'm usually more active on topics like this but you would find more on speculation sub board in the economy board, having a topic like this on our board is interesting, nice one @Charles-Tim.
I'm speculating that bitcoin would reach a new ATH of 150k this year, I was speculating a 100k but we are well close to 100k and we are still a month and some days far from the halving, we should be entering a new ATH before this month runs out and get to about 84k this month, the demand on bitcoin would well rise after the halving, but I think it's already bon a very high demand right now as it should be, we have enough fuel to hit 100k this year and soon, but I'll still have my bets on 150k
I'm speculating that bitcoin would reach a new ATH of 150k this year, I was speculating a 100k but we are well close to 100k and we are still a month and some days far from the halving, we should be entering a new ATH before this month runs out and get to about 84k this month, the demand on bitcoin would well rise after the halving, but I think it's already bon a very high demand right now as it should be, we have enough fuel to hit 100k this year and soon, but I'll still have my bets on 150k
The price of bitcoin hit $62+k today and as of posting the comment it $59+k though it has not shown red yet and tht means it will still go up again. If the market is going up like this till the month end, it might hit $70k and that should the beginning of the all time high for all the in the cryptocurrency market. And crash of dollar affect the investors of bitcoin in the country because definitely the amount would come down and if someone has 0.06036 bitcoin equals to #5.5 millions before when the price of dollar was #1800 and now DT the price of dollar is #1500, the 5m will reduce very well.
Now the BTC/NGN is not like before again but even the price of dollar is coming down, things that is goods are not coming down again that is the worry now.
Bitcoin already touched $64k very close to last ATH, just a few more to go but we should also expect some market resistance for a while but if the buy continues this way then we certainly will hit $70k very soon. Goods are not yet coming down because the exchange price is not yet stable, let's just watch and hope for the best. Now the BTC/NGN is not like before again but even the price of dollar is coming down, things that is goods are not coming down again that is the worry now.
E get truth for the matter wey Bitcoin price don dey show serious momentum wey dey carry am near its ATH. Dis fit dey very exciting time for investors specially those wey don dey gather Bitcoin small-small over time. But e important make we dey approach the market with clear mind, and consider all the many factors wey fit affect how the price go move.
E make sense well to dey waka with caution and discipline. Make we dey updated on top market tori, maintain our long-term view and make informed decisions based on top our own financial goals and the level of risk we fit manage.
E make sense well to dey waka with caution and discipline. Make we dey updated on top market tori, maintain our long-term view and make informed decisions based on top our own financial goals and the level of risk we fit manage.
The price of bitcoin hit $62+k today and as of posting the comment it $59+k though it has not shown red yet and tht means it will still go up again. If the market is going up like this till the month end, it might hit $70k and that should the beginning of the all time high for all the in the cryptocurrency market. And crash of dollar affect the investors of bitcoin in the country because definitely the amount would come down and if someone has 0.06036 bitcoin equals to #5.5 millions before when the price of dollar was #1800 and now DT the price of dollar is #1500, the 5m will reduce very well.
Now the BTC/NGN is not like before again but even the price of dollar is coming down, things that is goods are not coming down again that is the worry now.
Now the BTC/NGN is not like before again but even the price of dollar is coming down, things that is goods are not coming down again that is the worry now.
OH MY GOD😱
Bitcoin is so close to getting a new ATH. If it keep on increasing at this rate, it might beat the ATH before the end of next week. This is just so amazing, those who are yet to buy, it's not yet late you can still accumulate now before we enter into a New ATH. I can see that the dollar to naira rate has dropped a bit, and that is a good one but just as Charles-Tim said all this is because of the manipulation from the government by arresting the BDC and making exchanges to set their p2p price, however the problem is still on.
Thank you for sharing your valuable insights. There's indeed a high probability of Bitcoin surpassing its all-time high (ATH) soon. Any how, e go dey wise to still closely monitor the neckline of the previous double top pattern for any potential resistance. And then for the recent strength in NGN, it seems like a sustainable trend from my own personal perspective. Any how Let's just keep our fingers crossed.
OH MY GOD😱
Bitcoin is so close to getting a new ATH. If it keep on increasing at this rate, it might beat the ATH before the end of next week. This is just so amazing, those who are yet to buy, it's not yet late you can still accumulate now before we enter into a New ATH. I can see that the dollar to naira rate has dropped a bit, and that is a good one but just as Charles-Tim said all this is because of the manipulation from the government by arresting the BDC and making exchanges to set their p2p price, however the problem is still on. Manipulation can only last for a while and after that the problem will still surface. It's not my prayer that we continue like this, but the government have to admit the real cause of the problem and tackle it now that it's day.
its 24hrs high is $59,508.89 which 94,053,800.155 NGN probably see the ₦100 million before the weekends
Naira price is gradually appreciating. I checked it just now and I saw ₦1475. Bitcoin price is now around ₦87 million. Although, we like it or not, bitcoin will later surpass ₦100 million.It's really funny how the price of BTC is skyrocketing and Naira is also appreciating but the appreciation of Naira is a welcome development as we hope to experience the price of Bitcoin soaring more higher while our currency gains more value, at least the price of goods and commodity would start reducing gradually in other to make life more affordable for people in the country. As at the time of writing this, the price of naira to dollars is around #1630 while the price of BTC is fluctuating around $58,986
I saw it at ₦1475 just now. Deflation can not easily be achieved, but the government have done it in a way that naira price is manipulated by them is what I think. They arrested BDC operators and also go for exchanges and forex brokers. Now Binance is indirectly controlling P2P price. Do not be surprised if the price of goods and services do not come down. 
I noticed people talk more about USD has been one of the reasons I edited it. Also to let us know that we should use black market rate because it is the price that we have been using for discussion. I did not see anyone using the I&E or the CBN rate.
Happy to see people posting on this thread again.
BTC at ₦92.2 million today. Approaching ₦100 million. $56000
Happy to see people posting on this thread again.
BTC at ₦92.2 million today. Approaching ₦100 million. $56000
It's really funny how the price of BTC is skyrocketing and Naira is also appreciating but the appreciation of Naira is a welcome development as we hope to experience the price of Bitcoin soaring more higher while our currency gains more value, at least the price of goods and commodity would start reducing gradually in other to make life more affordable for people in the country. As at the time of writing this, the price of naira to dollars is around #1630 while the price of BTC is fluctuating around $58,986
BTC at ₦92.2 million today. Approaching ₦100 million. $56000
its 24hrs high is $59,508.89 which 94,053,800.155 NGN probably see the ₦100 million before the weekends
Irrespective of the fact that some of us are beneficiaries of this increase in dollar over naira, due to the fact that we have most of our assets in Bitcoin and other crypto like USDT, I'm still not satisfied with the dollar increase over the Naira because we have lots of individual who are suffering from this rapid increase, even our very close relations are going through a lot this period due to the hike in price of everything in the market. The percentage of persons not into crypto or those not earning in dollar are much higher than those who are into crypto, so lets pray things get better than this.
People wey dey earn in foreign currencies no really benefit like dat becus indirectly you go cough out all di money back. As dollar dey increase naso things for market dey increase. Make I use this example explain, 2 weeks ago I buy Romoss powerbank for jumia for 73k, afta 4 days di price come increase to 81k, yesterday wen I check again di price don enta 97k. The only thing be say e still beta pass person wey dey earn in naira becus as dollar dey rise and things dey increase for market, your naira go dey reduce in value.investing
This is the only thing better and helpful against our dying economy, earlier bitcoin investors in Nigeria are smiling bitcoin, Other fiat currency are depreciating and while naira is being manipulated and dying, bitcoin investment is better than other for us all because either in the good or bad economy, we're going to be richer
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BTCaby is not entirely predictable but we're still hoping for a new ATH before halving and after that, up up and awy
+1 merit for you to make this thread more lively again also to motivate you to work better in your post structure, here are some helpful guides :
Useful information for Nigerian newbies
[GUIDE] Bitcointalk forum etiquette
[/quote]
Yea thanks allot for the valuable insights and the post you shared ,it contains a whole lot of information for a beginner to really understand how the forum works.
I have edited the OP. These are what I edited and included:
I noticed people talk more about USD has been one of the reasons I edited it. Also to let us know that we should use black market rate because it is the price that we have been using for discussion. I did not see anyone using the I&E or the CBN rate.
Happy to see people posting on this thread again.
BTC at ₦92.2 million today. Approaching ₦100 million. $56000
This thread is about BTC/NGN price speculation. No altcoin should be included. USD can be included. I noticed we are discussing BTC/USD also.
We are using the Parallel market rate. If you are not using the parallel market rate, specify the one that you use.
We are using the Parallel market rate. If you are not using the parallel market rate, specify the one that you use.
I noticed people talk more about USD has been one of the reasons I edited it. Also to let us know that we should use black market rate because it is the price that we have been using for discussion. I did not see anyone using the I&E or the CBN rate.
Happy to see people posting on this thread again.
BTC at ₦92.2 million today. Approaching ₦100 million. $56000
Good news that the CBN rate has been removed from noncustodial wallets and exchanges' naira exchange rate as CBN do not determine the Investors and Exporters rate again. It was frustrating before, but I have seen it changed and more correlate to the parallel market rate.
Edit:
Which exchange rate should be used? Parallel or I&E rate?
Boss, I don gather some tori based on our discussion. The choice between the parallel market rate and the I&E window rate depend on wetin we dey look for, who we dey talk to, and why we dey analyze am. Sometimes, e fit make sense to consider both rates and show how dem affect different parts of the discussion. Even our own experience fit come into play.Edit:
Which exchange rate should be used? Parallel or I&E rate?
The parallel market rate dey often easy to find and plenty people dey follow am, especially those wey dey do buying and selling for street and informal markets. Prices for parallel market fit jump up and down pass the official rates because na reflection of how demand and supply dey work for the unofficial economy. Using this rate fit give us better understanding of how things dey move for the street and black market, and this fit matter for some analyses.
The I&E window rate na the official exchange rate wey Central Bank of Nigeria don set. Using this rate means say we dey follow government rules and e fit dey better for official or big man palava. The rates for I&E window dey more steady compared to parallel market because na through official channels and regulated people dem dey do transactions. Data from here dey usually more believable and transparent.
If we dey do analysis for official purposes like financial reporting, government compliance, or policy recommendations, e better make we use the I&E window rate because e dey follow government rules and e dey credible.
this week way just past so
(Monday ,12, Feb,24)~(Saturday,17, Feb,24)
Na really big week for BITCOIN, because BITCOIN gain about 9.2% increment. This one na really good sign way BITCOIN done show us so , as most of the investors and retail traders done put eye for am like this because of the way e take move from 47978.05 to 52395.42 within this relatively short time.
First of all the way the week take start I no expect this type of strong bullish move because we enter this week with a market way dey consolidated around the 48594.35 and the 47651.65 zone way continue for almost the whole (Monday , 12 Feb , 24) until In the evening we come experience one huge price Spike way come open the way for further rise, after this Spike way I dey talk so , the price come later come back to the price way e originate, that is on (Tuesday 13 , Feb , 24) then buyers way been they wait to buy for the market come pick up the orders , na so price come take rise through out (Tuesday 13 , Feb , 24) and ( Wednesday, 14, Feb, 24) on reaching (Thursday 15 , Feb , 24 ) price come start to consolidate around the 51185.48 and 52757.83 zone way done continue till now (Saturday ,17 , Feb ,24)
so at this point make we continue to look at how the next week go be.
I was expecting bitcoin price to clock 50k earlier in January but that didn't happen, I guess its usually when you don't expect bitcoin turn up more but at least we all knew it would be bullish, so those who continue to stack up more will be smiling and Thanking God.(Monday ,12, Feb,24)~(Saturday,17, Feb,24)
Na really big week for BITCOIN, because BITCOIN gain about 9.2% increment. This one na really good sign way BITCOIN done show us so , as most of the investors and retail traders done put eye for am like this because of the way e take move from 47978.05 to 52395.42 within this relatively short time.
First of all the way the week take start I no expect this type of strong bullish move because we enter this week with a market way dey consolidated around the 48594.35 and the 47651.65 zone way continue for almost the whole (Monday , 12 Feb , 24) until In the evening we come experience one huge price Spike way come open the way for further rise, after this Spike way I dey talk so , the price come later come back to the price way e originate, that is on (Tuesday 13 , Feb , 24) then buyers way been they wait to buy for the market come pick up the orders , na so price come take rise through out (Tuesday 13 , Feb , 24) and ( Wednesday, 14, Feb, 24) on reaching (Thursday 15 , Feb , 24 ) price come start to consolidate around the 51185.48 and 52757.83 zone way done continue till now (Saturday ,17 , Feb ,24)
so at this point make we continue to look at how the next week go be.
Now that the ETF has already been accepted, I think bitcoin will get to a new ATH before halving maybe around March before most will then sell some of bitcoin because of halving and some people expecting a huge sale from top investors just like some do during halving but still yet bitcoin likely get to a new ATH because I think most will continue to HODL till this happens
+1 merit for you to make this thread more lively again also to motivate you to work better in your post structure, here are some helpful guides :
Useful information for Nigerian newbies
[GUIDE] Bitcointalk forum etiquette
Irrespective of the fact that some of us are beneficiaries of this increase in dollar over naira, due to the fact that we have most of our assets in Bitcoin and other crypto like USDT, I'm still not satisfied with the dollar increase over the Naira because we have lots of individual who are suffering from this rapid increase, even our very close relations are going through a lot this period due to the hike in price of everything in the market. The percentage of persons not into crypto or those not earning in dollar are much higher than those who are into crypto, so lets pray things get better than this.
People wey dey earn in foreign currencies no really benefit like dat becus indirectly you go cough out all di money back. As dollar dey increase naso things for market dey increase. Make I use this example explain, 2 weeks ago I buy Romoss powerbank for jumia for 73k, afta 4 days di price come increase to 81k, yesterday wen I check again di price don enta 97k. The only thing be say e still beta pass person wey dey earn in naira becus as dollar dey rise and things dey increase for market, your naira go dey reduce in value.
This is the only thing better and helpful against our dying economy, earlier bitcoin investors in Nigeria are smiling bitcoin, Other fiat currency are depreciating and while naira is being manipulated and dying, bitcoin investment is better than other for us all because either in the good or bad economy, we're going to be richer
Normally ehh, the benifits of Bitcoin investment for some body way they for this our economy like this, because of the current challenges e good to invest for other things, like for example BITCOIN , way no dey bonded by our traditional currency. Like you talk,
"so that we go dey richer 😊 "
even in the current ups and downs way we dey face.
Irrespective of the fact that some of us are beneficiaries of this increase in dollar over naira, due to the fact that we have most of our assets in Bitcoin and other crypto like USDT, I'm still not satisfied with the dollar increase over the Naira because we have lots of individual who are suffering from this rapid increase, even our very close relations are going through a lot this period due to the hike in price of everything in the market. The percentage of persons not into crypto or those not earning in dollar are much higher than those who are into crypto, so lets pray things get better than this.
People wey dey earn in foreign currencies no really benefit like dat becus indirectly you go cough out all di money back. As dollar dey increase naso things for market dey increase. Make I use this example explain, 2 weeks ago I buy Romoss powerbank for jumia for 73k, afta 4 days di price come increase to 81k, yesterday wen I check again di price don enta 97k. The only thing be say e still beta pass person wey dey earn in naira becus as dollar dey rise and things dey increase for market, your naira go dey reduce in value.
This is the only thing better and helpful against our dying economy, earlier bitcoin investors in Nigeria are smiling bitcoin, Other fiat currency are depreciating and while naira is being manipulated and dying, bitcoin investment is better than other for us all because either in the good or bad economy, we're going to be richer
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