Showing posts with label bitcoin prices. Show all posts
Showing posts with label bitcoin prices. Show all posts

Bitcoin Selling For $98,000 ...In Nigeria!? Why Things Are So F*#@'d Up There...

Bitcoin prices in nigeria

In Nigeria, each bitcoin costs more than $98,000, and its price continues to rise uncontrolled. While this could be the dream of many bitcoiners, the reality is that it has become a nightmare for Nigerian traders.

All this is the product of a government-imposed measure prohibiting the marketing of digital assets.

It's a financial blunder that has led to Bitcoin being 56% more expensive than the average value worldwide. While bitcoin has barely exceeded $57,000 in most countries worldwide, the price in Nigeria continues to rise to $100,000 dollars.

Before the ban on trading cryptocurrencies imposed by the Central Bank of Nigeria, the exchanges held cash  in banks and had a steady stream of deposits." Before, there was a single source of liquidity," says The CEO of Naijacrypto Chiagozie Iwu, and therefore there was always cash to exchange bitcoins, and the price was stable.

Will The Nigerian Government Reverse Their Decision? 

Iwu believes that there is a possibility that the Nigerian government will revoke the decree against cryptocurrencies in the future and allow trading again. However, this option is hard to believe when we consider that the state narrative is that Bitcoin is a threat to the economy.

Recently Nigerian Senator Mohammed Musa accused Bitcoin of turning the national currency into an "almost useless" asset. A speech that reinforces the idea that it is better that Bitcoin does not circulate within the country.

Author: Adam Lee
Asia News Desk 

Bitcoin Touches, But Struggles To Hold $18,000! Prepare For What Will Probably Happen Next...

Bitcoin prices

*Updated* Article & Headline Updated To Reflect The $18,000 Price Being Reached...

Bitcoin's bull run continued today, breaking the $18,000 barrier but dropping back to the high $17k's just minutes after. 

It is the first time since the beginning of January 2018 that we've seen these levels.

In our article last week titled 'Bitcoin Has Been Above $15k Only 20 Days, EVER - Until Now!' we explained why this time is different from 2018, and why we do not expect a crash to follow the next time we set new all time high.

What To Expect Next:

'There will be no crash' does not mean there won't be some downward movement as well.

After all - this is Bitcoin, and if you've been trading it right you've come to love the ups and downs.

On that note, some are expecting things to take a slight downturn soon, before we set new records and break into the $20,000+ range for the first time.  This will happen either right after, or just a little before $18k.

"Consolidations are getting shorter without much retracement. Blow-off top is coming soon." one trader shares his thought on the current charts.

I wouldn't be surprised to return to $16,000, or at the most, a drop into the $14,000's before the next run up, where I believe we will make history and set that new 'all time high' as we cross the illusive $20,000 barrier. 

Author: Mark Pippen
London News Desk