How scarcity of new Naira made my Bitcoin double.

[Jaycoinz]

 Funny enough Nigeria is a country with funny leaders and citizens.
  Imagine the resign of new Naira and yet the new Naira are still scare. U going to buy any thing without Naira is a waste of time. And yet no new Naira.
   But once again this maintenance has made me achieve something cause I usually accept transfer and in return give them new Naira at a lower rate. Then deposit the money at the bank and use it to buy Bitcoin.
   My brother's and sisters reaching today I find out that the price of Bitcoin has gone high making me to have double of my money. Indeed this country is funny but still making others to make more money.

[Mate2237]

This kind thread was in this board and nobody made any comments since February 2nd this year. And what Op said was a nice thing. Op used the cashless policy period to buy some bitcoins at that critical time of the national economy. And what the OP did was a calculative risk and investment but bitcoin never fail those who understands the market movement. That period was also a good time to buy. And I know that OP has made good profit from the amount he use to buy the coins. That was a wise decision by him.

But is this op still in this forum? Because people that registered from April are also full members in this board, probably the op is busy with physical activities or dem don ban am?

[Charles-Tim]

I check the price of bitcoin in January of this year to when this thread was created, I noticed that the price of bitcoin increased significant. But this is not because of the new naira scarcity. Also not only because naira depreciated in value around the time. The main reason was because bitcoin price actually increased significantly.

[Sim_card]

I guess that OP,was busy doubling his Naira notes and investing his profit in bitcoin. He forgot his purpose here,which is to learn and grow in rank on the forum. Though,everyone have their reasons of coming to the forum and our reasons vary from one person to the other. Some person can take three to four years to grow in the forum,while some grow very fast. OP knows the reason why he is not consistent with forum activities. I love this wisdom of yours that you used to make profit during the cashless policy time. Life na calculation, if not things go over you.

[Charles-Tim]

I love this wisdom of yours that you used to make profit during the cashless policy time. Life na calculation, if not things go over you.

But as bitcoin appreciated in price, it has nothing to do with cashless policy. Although, OP may because of cashless policy,  invest in bitcoin, but naira did not depreciated around that time. Just that bitcoin price that increased very well in January and little naira price depreciation.

[Gozie51]

I love this wisdom of yours that you used to make profit during the cashless policy time. Life na calculation, if not things go over you.

That fit just be coincidence oo say bitcoin rise when cashless dey, e fit happen like that but me I no see any correlation between fiat and bitcoin make e con even be naira. Something like that too don happen for COVID-19 year, that's 2020 around that march time come down wey people dey expect say bitcoin go drop because of all the economic challenges then but it was on the contrary until price hit ATH.. Anyway, if Op make money then, e fit be say the baba dey run POS business then. I hope we remember the ridiculous charges then. I know of one guy wey run the biz then, even as him no too get cash to dispense then , the guy say him dey make 25,000 / 30,000 daily and before 12 pm him cash don finish and customers go book him for next day. The guy say him pray make the cash scarcity last till December but God strong pass him. So government policy get person wey e dey favour.

[Wiwo]

I check the price of bitcoin in January of this year to when this thread was created, I noticed that the price of bitcoin increased significant. But this is not because of the new naira scarcity. Also not only because naira depreciated in value around the time. The main reason was because bitcoin price increased significantly.

I found the thread full with errors and grammatical blunders may be that is the reason why the thread never got the attention of other board members even though it was created a long time ago,  and more also just as you have rightly said, there is no correlation between the redesign naira notes and bitcoin price,  and if oos must know,  bitcoin was already on a bull recovery movement even before the naira redesigning begins,  because from records of bitcoin price charts,  Bitcoin was already making a lot of positive attempts in recovering its price and market value right from the start of 2023 and the naira resign was some time around February - match 2023 and by that time bitcoin has already made a lot of price benchmarks.

I believe ops will revisit this thread to try and edit some parts and correct some of the errors discovered in the comments so that it can attract the right comments and contributions from other members of the forum,  and one good piece of advice for ops is that,  when talking about Bitcoin price appreciation or any other altcoins,  he shouldn't use the Nigeria naira as a cost averaging rather ops should use USTD or other stablecoins because the Naira has lost it value and using such weak currency to make costing can easily mislead ops into making loses from investments.