Bitcoin price speculation (BTC/NGN) - page 3.

Doan9269

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Quote from: Makus on January 26, 2024, 05:09:02 AM

Quote from: Mate2237 on January 25, 2024, 03:52:24 PM

The increase not dollar in the country is getting out of hand. And some people think that when dollar increase their hodling will also increased but that might be correct but they have forgotten that $1 which is equivalent to #1400 now is also equal to what you buy as well and if you calculate very well you will discovered that what you earn and the increase in dollar, you are di one who loss out because expenses will eat up your funds..so instead let's think how dollar can reduce to the normal price again. If dollar is high, then you hodling of Bitcoin is always affect because you are not using Bitcoin to buy food or clothes but the fiat currency and you must change your Bitcoin to fiat so what is the need of advocating for the increase in dollar.

And we should not forget that it's not only us in the country but poor people are also there. Do you think of them as well?

Rightly said, yesterday I say make I enter market to buy somekind things for my self. Omor wattin I eye see just trouble my heart, something of N6k in the month of December now Dem say na N13k when I waka like 5 place and the price just dey stagnant na for there I take know say these people no dey play at all. So as dollar dey increase e dey affect us individually nobody go fit escape.

Omor the price of Bitcoin just dey shock everybody, because the price predictions and expectations don too many for the price to dip like this. Anyway we don get small hit why the price dey dump. Grayscale selling that huge amount of Bitcoin just be like price manipulation. But this na opportunity to buy more.

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this is not even about the bitcoin price now that we are in, the market is getting worse day by day through the effect of what the economy condition of the country is, you can know this about the exchange rate of dollars to naira, as at today, you will get it done at the rate of #1,407 to #1,430 per 1USD, what are we to say concerning this and the affairs of the country economy, we cant be having it going like this, this isn't the expected change we are all waiting for.

Makus

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Quote from: Mate2237 on January 25, 2024, 03:52:24 PM

The increase not dollar in the country is getting out of hand. And some people think that when dollar increase their hodling will also increased but that might be correct but they have forgotten that $1 which is equivalent to #1400 now is also equal to what you buy as well and if you calculate very well you will discovered that what you earn and the increase in dollar, you are di one who loss out because expenses will eat up your funds..so instead let's think how dollar can reduce to the normal price again. If dollar is high, then you hodling of Bitcoin is always affect because you are not using Bitcoin to buy food or clothes but the fiat currency and you must change your Bitcoin to fiat so what is the need of advocating for the increase in dollar.

And we should not forget that it's not only us in the country but poor people are also there. Do you think of them as well?

Rightly said, yesterday I say make I enter market to buy somekind things for my self. Omor wattin I eye see just trouble my heart, something of N6k in the month of December now Dem say na N13k when I waka like 5 place and the price just dey stagnant na for there I take know say these people no dey play at all. So as dollar dey increase e dey affect us individually nobody go fit escape.

Omor the price of Bitcoin just dey shock everybody, because the price predictions and expectations don too many for the price to dip like this. Anyway we don get small hit why the price dey dump. Grayscale selling that huge amount of Bitcoin just be like price manipulation. But this na opportunity to buy more.

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Agbamoni

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Quote from: Mate2237 on January 25, 2024, 03:52:24 PM

The increase not dollar in the country is getting out of hand. And some people think that when dollar increase their hodling will also increased but that might be correct but they have forgotten that $1 which is equivalent to #1400 now is also equal to what you buy as well and if you calculate very well you will discovered that what you earn and the increase in dollar, you are di one who loss out because expenses will eat up your funds..so instead let's think how dollar can reduce to the normal price again. If dollar is high, then you hodling of Bitcoin is always affect because you are not using Bitcoin to buy food or clothes but the fiat currency and you must change your Bitcoin to fiat so what is the need of advocating for the increase in dollar.

And we should not forget that it's not only us in the country but poor people are also there. Do you think of them as well?

Absolutely right. The higher the price of dollar to naira the higher the cost of goods and services in our country. Which means there is no difference from what it was before. For example, if you buy a bag of rice for thirty thousand naira when one dollar was equivalent to a thousand naira. If a dollar increases to one a thousand and four hundred naira the price of rice would be about 45k. So, we see no difference in the value.

And my only fear is that in Nigeria what goes up doesn't comes down. Instead, it continues to go up more and more. Sellers would take advantage of the price of dollar and start selling their old products for the same price the new product cost. My candid advice to everyone is that, if you have a skill or service you are rendering in exchange for money. Do well to increase the cost of your service if not you will not meet up with the standard of living. This year na no gree for anybody o

Mate2237

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The increase not dollar in the country is getting out of hand. And some people think that when dollar increase their hodling will also increased but that might be correct but they have forgotten that $1 which is equivalent to #1400 now is also equal to what you buy as well and if you calculate very well you will discovered that what you earn and the increase in dollar, you are di one who loss out because expenses will eat up your funds..so instead let's think how dollar can reduce to the normal price again. If dollar is high, then you hodling of Bitcoin is always affect because you are not using Bitcoin to buy food or clothes but the fiat currency and you must change your Bitcoin to fiat so what is the need of advocating for the increase in dollar.

And we should not forget that it's not only us in the country but poor people are also there. Do you think of them as well?

Charles-Tim

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Quote from: Makus on December 04, 2023, 02:21:33 AM

Omor, how many of us dey observe wattin the price of bitcoin dey do, e just dey increase rapidly since yesterday e don increase more than a $1000. Currently now the price dey for $41,700 if person ask me wattin dey happen I go say we don enter the semi bull run wey dey happen normally before the halving, this wattin don dey happen for years past if you observe the price movement you go see wattin I dey talk. Omor I brother, when we dey talk e just be like say na joke oo, bitcoin don dey goooo, but I petty does wey no join us because of unbelief, no be say dem no get the money but dem dey either procrastinate or just make up their mind say dem no go do when them get chance.

Yes, spot bitcoin ETF that awaits approval started the bull run. What is very new to us Nigeria is that bitcoin got to a year new high at the time. You can see that from the chart below:

The price got to over 48,200,000 naira.

With time, bitcoin will increase above 100 million naira.

Makus

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Omor, how many of us dey observe wattin the price of bitcoin dey do, e just dey increase rapidly since yesterday e don increase more than a $1000. Currently now the price dey for $41,700 if person ask me wattin dey happen I go say we don enter the semi bull run wey dey happen normally before the halving, this wattin don dey happen for years past if you observe the price movement you go see wattin I dey talk. Omor I brother, when we dey talk e just be like say na joke oo, bitcoin don dey goooo, but I petty does wey no join us because of unbelief, no be say dem no get the money but dem dey either procrastinate or just make up their mind say dem no go do when them get chance.

Richbased

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With the rapid increase in the price of Bitcoin for about few days now it looks like it will definitely surge to the speculated AI ATH for the ending of December 2023 because about 3 days ago the price was $37,711 and day before yesterday it moved to $38, 898 then yesterday it's price also moved to $39,436, and today 04th of December 2023 it's price is around $41,356 as at the time of giving this information, so with the current btc price movement on daily basis it can be agreed that it is going towards the speculated AI ATH of $45,000 by the end of December 2023, what are your thoughts on the current price movement of Bitcoin, will it achieve the speculated AI ATH for the end of this year 2023 or it will drop along the line?

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Quote from: letteredhub on November 10, 2023, 04:40:30 PM

Quote from: sokani on November 10, 2023, 01:42:05 PM

Quote from: Charles-Tim on November 09, 2023, 02:35:38 AM

I saw this news two days ago: Naira may appreciate to N600 against dollar – Tinubu’s aide Fasua

It was about one of the special advisers of our incumbent president. He said naira may strength further to exchange at ₦600 to $1 in the foreign exchange market. Roll Eyes

Naira has depreciated in price a little after it went below ₦1000 to a dollar recently, now around ₦1128 in the parallel market as of today.

How will naira appreciates when things that continue to make it depreciate have not yet been tackled.

Him dey eat with a very fat spoon, so him suppose talk good things concerning the administration and appear optimistic even when him no say the path wey dem dey lead us to, road no dey there. How naira wan take fall to N600/$ when Nigeria dey heavily rely on importation and no better plans to address the current situation?

I believe na when the naira drop from N1257 to N940, na wetin make the aide to make the speculation about the price of naira but just few days after, the price don climb again. Just as some member don express their pessimism, from the way Nigeria dey go, I no see naira fall to N600/$.

You know this country we Nigerians don get one lifestyle like that way be say we go gat sell our conscience to the truth so that we fit see food chop on our table. And people go see blue call am red without shame or thinking of how their integrity will be seen as. Nah something make the price of Naira to dollar increase exponentially to #1k+ we have today and you never fix the problem you the com for national TV and social media space the tell people say dollar go fall to #600 nah by magic or what. The #600 sef shame supposed catch you say $1 nah #600. Our politicians knows the solution to the economic problems of our country but out of greed them the abandon am the treat effect instead of the problems. No consumerism nation can ever development for this 21c without turning to a production nation and nah dis be part of Naija wahala

My brother I tire oo, greed and selfishness is what is causing all this nonsense and the fact they can come out and lie to our faces is just something else because the matter just tire everyone for the nation, imagine a country filled with so many natural resources and potentials but yet one of the poorest when it comes to economic Ballance and stability. Me I don tire to dey complain sha, na just to dey hope say one day e go better because as e be now so many things don too spoil for the country to better so soon or like you talk for the naira to magical beat the dollar from 1k as the current price now to 600naira as proposed by these hypocrite wey we call government.

letteredhub

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Quote from: sokani on November 10, 2023, 01:42:05 PM

Quote from: Charles-Tim on November 09, 2023, 02:35:38 AM

I saw this news two days ago: Naira may appreciate to N600 against dollar – Tinubu’s aide Fasua

It was about one of the special advisers of our incumbent president. He said naira may strength further to exchange at ₦600 to $1 in the foreign exchange market. Roll Eyes

Naira has depreciated in price a little after it went below ₦1000 to a dollar recently, now around ₦1128 in the parallel market as of today.

How will naira appreciates when things that continue to make it depreciate have not yet been tackled.

Him dey eat with a very fat spoon, so him suppose talk good things concerning the administration and appear optimistic even when him no say the path wey dem dey lead us to, road no dey there. How naira wan take fall to N600/$ when Nigeria dey heavily rely on importation and no better plans to address the current situation?

I believe na when the naira drop from N1257 to N940, na wetin make the aide to make the speculation about the price of naira but just few days after, the price don climb again. Just as some member don express their pessimism, from the way Nigeria dey go, I no see naira fall to N600/$.

You know this country we Nigerians don get one lifestyle like that way be say we go gat sell our conscience to the truth so that we fit see food chop on our table. And people go see blue call am red without shame or thinking of how their integrity will be seen as. Nah something make the price of Naira to dollar increase exponentially to #1k+ we have today and you never fix the problem you the com for national TV and social media space the tell people say dollar go fall to #600 nah by magic or what. The #600 sef shame supposed catch you say $1 nah #600. Our politicians knows the solution to the economic problems of our country but out of greed them the abandon am the treat effect instead of the problems. No consumerism nation can ever development for this 21c without turning to a production nation and nah dis be part of Naija wahala

sokani

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Quote from: Charles-Tim on November 09, 2023, 02:35:38 AM

I saw this news two days ago: Naira may appreciate to N600 against dollar – Tinubu’s aide Fasua

It was about one of the special advisers of our incumbent president. He said naira may strength further to exchange at ₦600 to $1 in the foreign exchange market. Roll Eyes

Naira has depreciated in price a little after it went below ₦1000 to a dollar recently, now around ₦1128 in the parallel market as of today.

How will naira appreciates when things that continue to make it depreciate have not yet been tackled.

Him dey eat with a very fat spoon, so him suppose talk good things concerning the administration and appear optimistic even when him no say the path wey dem dey lead us to, road no dey there. How naira wan take fall to N600/$ when Nigeria dey heavily rely on importation and no better plans to address the current situation?

I believe na when the naira drop from N1257 to N940, na wetin make the aide to make the speculation about the price of naira but just few days after, the price don climb again. Just as some member don express their pessimism, from the way Nigeria dey go, I no see naira fall to N600/$.

Richbased

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Quote from: CryptoHeadlineNews on November 09, 2023, 09:37:23 AM

We just need to pay close attention to the word "may" which he used in the context above, which implies that it may fall or may not fall to that value which he speculated, because truth be told, Tinubu's aid Mr Fasua is not the first or neither will he be the last to come tell Nigerians that our Naira will be stabilized after a drastic fall, of which the worst thing that can happen is for the value of Naira to rise little bit and then after a while go back to normal, which you know we Nigerians, are very good at silently adapting to changes, and we will do that without complaining. Henceforth, for me, I personally know that it will be easy for the head of an elephant to pass through the eye of a needle than the price of Naira to fall back to #600/$1 black market rate.

Well we all already know that the CBN is playing gamble and politics with the naira but however, we still need to be optimistic about the naira strengthening in the upcoming days at least even if the price of things doesn't reduce we will use the naira to purchase bitcoins as that's the most important thing we will gain if the naira keeps strengthening against the dollars and there's no smoke without a fire so for the aide to warn individuals about hoarding other currencies with the hope that the naira will depreciate means that they are up to something so let's just be hopeful regardless of the fat that our government have been giving us empty hopes and promises over the years but let's still be hopeful and solicit for a better Nigeria and at this point all hand must be on deck as we can't channel all the responsibilities to the government alone, it requires a combative effort before we can create an enabling environment that will better the hopes and lives of citizens in the country.

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Quote from: Charles-Tim on November 09, 2023, 02:35:38 AM

How will naira appreciates when things that continue to make it depreciate have not yet been tackled.

Exactly ! This is the key point, it seems we care about the figures rather than considering the main factor determining the rise in the inflation . The government keep putting up words ease our stress when they are yet to tackle the main cause of our pains

We keep on pushing as if there's nothing happening because we have no choice as the minority rule over the majority which is supposed to be the vice-versa on the other hand , the voice of the majority aren't heard in this so called country .

If the figure reduces and there's no fix then remember there will be a greater comeback , God bless Nigeria

CryptoHeadlineNews

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Quote from: Charles-Tim on November 09, 2023, 02:35:38 AM

I saw this news two days ago: Naira may appreciate to N600 against dollar – Tinubu’s aide Fasua

It was about one of the special advisers of our incumbent president. He said naira may strength further to exchange at ₦600 to $1 in the foreign exchange market. Roll Eyes

Naira has depreciated in price a little after it went below ₦1000 to a dollar recently, now around ₦1128 in the parallel market as of today.

We just need to pay close attention to the word "may" which he used in the context above, which implies that it may fall or may not fall to that value which he speculated, because truth be told, Tinubu's aid Mr Fasua is not the first or neither will he be the last to come tell Nigerians that our Naira will be stabilized after a drastic fall, of which the worst thing that can happen is for the value of Naira to rise little bit and then after a while go back to normal, which you know we Nigerians, are very good at silently adapting to changes, and we will do that without complaining. Henceforth, for me, I personally know that it will be easy for the head of an elephant to pass through the eye of a needle than the price of Naira to fall back to #600/$1 black market rate.

Cryptoprincess101

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Quote from: Charles-Tim on November 09, 2023, 02:35:38 AM

I saw this news two days ago: Naira may appreciate to N600 against dollar – Tinubu’s aide Fasua

It was about one of the special advisers of our incumbent president. He said naira may strength further to exchange at ₦600 to $1 in the foreign exchange market. Roll Eyes

Naira has depreciated in price a little after it went below ₦1000 to a dollar recently, now around ₦1128 in the parallel market as of today.

How will naira appreciates when things that continue to make it depreciate have not yet been tackled.

Some people may not know that there are other ways to hedge against inflation, some people always think dollar can help, not knowing dollar is also depreciating but not just depreciating fast like naira. Bitcoin is far better as a hedge against inflation.

Holding bitcoin now is better.

As naira is appreciating against dollar and the price of bitcoin as of now is $36,813.49 as at the time of writing this I believe that buying and Hodling bitcoin is surely the best because as naira is appreciating against the dollars it will be comfortable for us to buy bitcoins now using naira as no one know if the naira will keep strengthening against the dollars or it will reach the middle of the road and start depreciating again although Nigeria is making plans for new FX rules in optimism that the naira will reach a considerate price before the end of the year. Whichever way it is all we seek is for the price of goods and commodities to also fall to a favorable and sustainable price.

Charles-Tim

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I saw this news two days ago: Naira may appreciate to N600 against dollar – Tinubu’s aide Fasua

It was about one of the special advisers of our incumbent president. He said naira may strength further to exchange at ₦600 to $1 in the foreign exchange market. Roll Eyes

Naira has depreciated in price a little after it went below ₦1000 to a dollar recently, now around ₦1128 in the parallel market as of today.

How will naira appreciates when things that continue to make it depreciate have not yet been tackled.

Some people may not know that there are other ways to hedge against inflation, some people always think dollar can help, not knowing dollar is also depreciating but not just depreciating fast like naira. Bitcoin is far better as a hedge against inflation.

Holding bitcoin now is better.

promise444c5

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Quote from: Doan9269 on November 07, 2023, 04:33:20 AM

I think this thread will serve well as our own naija local board speculation threads on bitcoin price in respect to USD and naija Naira, now i can see that over two days now, the naira currency on the exchange rate to USD is maintaining a strong dorminance between #1,000 to #1,050 per exchange rate for $1 same also is bitcoin struggling with a dorminance between 34,900 to $35,500 and I think there's much to derive out from these sentiments, now the price of items in the market is fast increasing as at when the exchange rate was $1 = #1,300

Inflation is increasing in rate and market value are coming down but the prices are not coming down with it, this will now lead to my own personal conclusion on this that we should expect an influx change at anytime from now onwards to increase the USD exchage rate to Naira before the end of this month, definitely we all know that Naira has not that ability to withstand and hold against USD in terms of exchages rate, but let's see how the government could try in holding this resistance to last before we see $1 to be #1,300 or more before this Christmas.

I don't think there's any dominace rather, I will call it a trial- resistance using the trial in the case of Nigeria situation ,its a downfall for our market and remember at that rate we're still experiencing a high level of inflation. Coming to the part If we will be able to maintain it I don't think so as there's as always beign greater out break incurring more inflation over the years.

But we can predict the market but let's hope for a good out come as for the betterment of everyone. God Bless Nigeria

Doan9269

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I think this thread will serve well as our own naija local board speculation threads on bitcoin price in respect to USD and naija Naira, now i can see that over two days now, the naira currency on the exchange rate to USD is maintaining a strong dorminance between #1,000 to #1,050 per exchange rate for $1 same also is bitcoin struggling with a dorminance between 34,900 to $35,500 and I think there's much to derive out from these sentiments, now the price of items in the market is fast increasing as at when the exchange rate was $1 = #1,300

Inflation is increasing in rate and market value are coming down but the prices are not coming down with it, this will now lead to my own personal conclusion on this that we should expect an influx change at anytime from now onwards to increase the USD exchage rate to Naira before the end of this month, definitely we all know that Naira has not that ability to withstand and hold against USD in terms of exchages rate, but let's see how the government could try in holding this resistance to last before we see $1 to be #1,300 or more before this Christmas.

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Quote from: Charles-Tim on November 05, 2023, 02:05:59 AM

You are not wrong at all. Example is the increase in the price of petrol, this will lead to other people increase the price of their product and services, saying it is because of the increase in the price of PMS. If there is increase in the price of diesel, we all know how factories depend on it for manufacturing. The product they are manufacturing will increase in price and pointing to increase in the price of AGO.

Exactly, people suppose know say inflation na global problem right now, no be only for Nigeria, though for third world countries like Nigeria the inflation go dey worse because of our economic and social problems. Cost of production don rise wella, as you talk so, as fuel rise, companies go also increase the prices of their commodities because fuel is also used in the production process and also used in transporting goods to consumers.

Naija na rich country, but our money na for consumption by the elites, zero production and no facilities to even support private businesses or to even make life easier for them. Pumping money in to increase the value of the naira is only artificial, e just dey like when covid wahala affect global economy and plenty countries come dey print money from thin air, at the end of the day, na inflation all those action bring, the situation of things for Naija no dey improve, but we dey hope for the best.

Charles-Tim

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Quote from: Coyster on November 04, 2023, 05:44:36 PM

Una suppose know say no be only naira appreciation or depreciation they affect the prices of goods/commodities

You are not wrong at all. Example is the increase in the price of petrol, this will lead to other people increase the price of their product and services, saying it is because of the increase in the price of PMS. If there is increase in the price of diesel, we all know how factories depend on it for manufacturing. The product they are manufacturing will increase in price and pointing to increase in the price of AGO.

@Richbased
You are also right, but even if no inventions from Nigeria but our government is able to do the right thing, like making all our refineries be fully functional, able to deal with crypto exchanges that supposed to have offices in Nigeria and tax them, and able to encourage and help other industries that we need in Nigeria and improving other sectors that they need to tackle, it would have been better than this. But you are right because if we begin to invent, eyes would be on us from all over the world and this will also help. What is most needed is the government to encourage this and also let us have a favoring environment for it to materialize into something that will help the economy.

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Quote from: adultcrypto on November 03, 2023, 09:31:49 AM

It is not that low as of now. I just checked Binance p2p and I am seeing N985. I do not see this as something that will last because apart from injecting dollar into the system, our government is not doing any other thing that will support the growth of our Naira against the dollar.

That's the problem with our dear country, how can our currency be valued when we ain't inventing or producing something that the world haven't invented or produced before. Our government have really been a major setback in our currency not being valued like we have young talented citizens who are ready and willing to invent things in this country but our government pays less attention to such individuals, instead they prefer sending their brainless children abroad to study rather than invest on individuals that are ready to research on things that can proffer solution to the world.

Having individuals that can offer solutions to world problems also contribute to a country's currency being valued because other countries will start sorting the services of such individuals and by so doing that country begins to gain recognition from the international community.

Our government needs to pay more attention to human capacity development as these can be a major factor to a country's currency being valued because when we have lots talented individuals that can offer good and quality services to other countries it will help that country to be respected because of such individuals, so I believe that human capacity development can also aid our currency being valued.

Topic: Bitcoin price speculation (BTC/NGN) - page 3. (Read 2236 times)