Topic: Bitcoin price speculation (BTC/NGN) - page 2. (Read 2236 times)

The situation wey so e show how e dey hard for people for market wey dey shake anyhow with money dey go up and down and prices dey rise. People wey dey collect money for obodo oyibo fit first think say dem get advantage because their money strong or stable. But as our own money dey lose value plus inflation join, e fit spoil the matter for dem.
Na so I buy one Romoss power bank from Jumia for 73,000 naira when dollar dey favor us for exchange rate.
Just 4 days later the price for the power bank don jump go 81,000 naira because of how dollar dey shake plus how market dey behave.
After that one the price still go up reach 97,000 naira and e show say the market still dey shake well well and inflation still dey worry us.

My brother, I understand clearly wattin make the price of things go up, and that na why I no go fit open my mouth blame the marketers because many of them sef don give up the business because of the way the price they rise after Dem sell their previous goods. Truth to be told this inflation is as a result of our governments failure to put some things in order. However I just dey hope say the price of things get better because this current price dey make plenty families starve, but the way e come be, the dollar to naira rate don dey go up again after e drop small yesterday.

Bro, don't get things twisted, the major reason things are very high its that the president floated the price of dollar, the companies  and importers that gets dollar cheaper to  transact their business now gets it at a very high rate. Now since the cost of production is very high, the products gets high simultaneously because no man gets into business for charity purposes nor to bear loses.

For the dollar price reduction,  I see that as a gamble and momentary, the price might likely spike up again soon like its gradually going up recently. You don't need to hope on this government making things better, you got to create avenues to make life more meaningful and comfortable for you in this country.

Boss you really dey on point, as you take talk am na so e done be oo, few days to March, BTC done rise well well already oo, e just dey interesting to me say this crypto maket as e be so just dey unpredictable ,  you fit think one thing , na another thing dey happen, just imagine before the halving nine we dey see this kind move.






from a personal and fundamental perspective , I think a person that earns in foreign currencies is at advantage, because as the naira drops it doesn't not affect your funds , because it is not bonded to naira . The inflationi in price may see like it has an effect on a person that earn in foreign currency but it really doesn't, it actually complements the person, in that the increased in price of goods and services levels up to your income.

The parallel market rate at some point ahs also been detrimental to the state of our economy, in as much as it's Ben beneficial to many because it makes them feel it boost their purchasing power after convertion but then it affects others because the prices seem to be peged at such rate due to the fact that it's looking more profitable thereby causing inflation on the economy but of we look at the CBN rate it has consideration because it was actually supposed to help cushion the fall of naira against the dollar so that purchasing power of the citizens even after importation can still fall within a considerable range but then because people will always want to get more due to the insatiable nature of human wants they will still tend towards the parallel late not minding the inflation.

If you take a critical analysis into this thing, you will discover that it's just greed and gullibility that's making people think the parallel rate is better because these prices could have been regulated and maintained at a level if we are all using same rates, if the parallel rates are high up there so does the prices of goods and services so invariably the benefits are not even sensible, rather its just a recycling of inflation and greed.

Even if say dem dey spend as e dey enter, Dem wey dey earn in dollar dey actually get advantage pass ordinary person wey dey earn in Naira because, as dollar dey increase, even if say the cost of living sef dey increase, the profit wey Dem dey get from the dollar increase go fit solve some additional issues. But no be that aguement naim carry me come this thread like this. As I just check my binance naim I see say the dollar to naira rate don dey drop, omor the thing sweet me for belle because price of things fit go down, especially electronic gadgets wey their price dey strictly follow the dollar to naira rates. Currently the price wey I see na 1455 per dollar if you wan sell small quantity, if this rapid decrease continue the naira would regain strength in no time.

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.

We bless God for the decrease. If the price keep on reducing, hopefully before the end of next month the price of naira to dollar would drop to 1k to $1, and the hike in price of things in the market would come down a bit. But this country could be funny most times, even if the buying price reduces because of greed some person can still sell for inflation price. However if the dollar to naira rate reduces is and advantage for the country as the price of thing will begin to reduce uniformly, so let's pray it get better than this.

Currently the price of dollar to NGN is below N1600 it was struggling to maintain that yesterday and earlier this morning but it end up settling at N1610 to N1620 as of the time I made the comment yesterday and today we can see dollar to NGN at N1590 which make BTC to NGN at N80,665,000 which have dropped down compare to yesterday but the price for BTC to USDT still have added little value.

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.

The past three days have been unstable. The price of NGN to dollars moved from N188 - N1700 it also retraced back to N1800 but today and yesterday we saw that it had gone below N1700 resting at N1690. I am speculating that it will go back up, reaching N2000 per dollar. It might be a sad story since i have so many friends and family that have been going through a lot because of the price of goods and services as a result of the dollars increase

I prefer the part where this chat is being shown on BTC/NGN; that’s now that it’s currently trading at N83,138,000 which is 1BTC is $51,521 which calculated in $1 to N1615, the united state dollar have traded in 24hrs ATH at N1698 according to Binance and BTC to NGN have traded at N89,000,000 in the last 24hrs which if calculated with current rate the price of BTC to NGN have dropped a little bit which could be influenced both on Naira gaining a little value over the dollar and the price of BTC also dropping down a bit before coming up.

Na who get Bitcoin for him portfolio na him suppose they happy to see price of Bitcoin increase. I believe wetin they happen now na part of market correction and definitely we go hit the $60k price before halving so any body wey get plans to invest make him better hurry catch this down price before we touch the new price.

Na the joy of every Bitcoin holder to see the price as e rise like this, and we dey even dey hope to see the price to continue to rise pass like this sef. Though some predictions dey wey dey talk say e go rise pass the ATH before the halving but I nor dey too put mind for all those predictions because many of them na just meer guesses. For the passed one week the price of Bitcoin just dey waka from $50k to $52k which means e still dey on a sideways trend. Maybe after now e go enter small bullish or bearish trends, but based on history, na bullish trend naim dey happen before every halving.

Until the bullish season after the halving happens before many investors will even bother selling their investment. Until then, we might only see the price rise, and other things happen to provide signals that are unreliable and unrealistic. The goal is to HoDL for a good long duration, else anyone who started accumulating BTC perhaps since last year, might not make as much profit even if the bullish season comes fully.

My dear na as Naira just dey climb dey go wer person no know, be my problem o.
 The exchange rates and transactions fees is one that should be looked into so as to ease or provide P2p transactions with a seamless operation.

Floating di naira fit help boost export competitiveness. Wen dem allow di naira make e float anyhow e like, e fit lose value, wey fit make Nigerian goods and services dey cheap for international buyers. Dis fit ginger industries wey dey focus on export, increase di money wey dem dey get from foreign exchange, and fit reduce how much di country dey depend on oil exports. E fit ginger make dem diversify di economy and fit help build one kine economy wey go fit last and strong.

Still, if dem allow di naira make e float, e fit bring wahala of inflation. If di value of di naira drop well well, e fit make prices of imported goods and raw materials go up, wey fit make businesses and consumers spend pass.

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.

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

Good afternoon my people, I bring to you this week's BITCOIN's market recap ,

You can make references to my post  " key terms for
understanding crypto markets " 
for better understanding of the terms used in this post.

 https://bitcointalksearch.org/topic/--5485476 

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.


Wish you all a Happy weekend and a successfully week ahead 🎉🎉🎉

If you have read my post, you'll understand that I am in the same page with you guys, I shared my experience on the change in price of things in the market due to the recent increase in dollar. I posted the Bitcoin price because  for long we haven't updated the price movement of bit oin here in this speculation thread. If proper care is not taken, the exchange rate of dollar to naira might hit #1500 before the end of next month, and that will just make the cost of living to increase drastically while those earning in naira will eventually feel the heat. This is just too much, within how many months the dollar to naira exchange has increased with more than #500, this is entirely not what we expected from the office of our new government.

Earlier this morning, I saw a post on social media talking about EFCC agreement with BDCs to spoil black market rate due to the increase in dollar. Please how true is this?
So we know what to expect in the next few days or weeks.  Besides we have upto 5687 licensed BDCs by the CBN so how are they gonna convince all 5687 to reduce the rate of exchange?

Check Nigeria's production/importation rate, that is what do we have that other countries are hugely demanding for?.
You produce crude oil and still take it outside to refine the crude and even pay huge amount of money in that process of refining it, insane right?, something we have the capacity to do here and only do the exportation of the refined products. The unemployment rate is high and people are now selling off their properties to travel abroad, what would they demand for,  same dollar right?, I have heard of some construction companies that work in Nigeria, and they are being paid in US dollars, what a messed country that doesn't want to move forward  In fact, there are many contributors to this increasing exchange rate we are witnessing lately and if nothing is done about it, to quench the fire, we would even see a #2500/$1 in the coming months ahead.