Bitcoin price speculation (BTC/NGN), and USD.

[sokani]

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.  

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/$.

[letteredhub]

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.  

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

[Jaycoinz]

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.  

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.

[Richbased]

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?

[Makus]

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.

[Charles-Tim]

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.

[Mate2237]

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?

[Agbamoni]

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

[Makus]

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.


source

[Doan9269]

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.


source

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.

[Franctoshi]

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.

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.

[Makus]

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.

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?

[Inior]

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://bitcointalk.org/index.php?topic=5485476.0 

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 🎉🎉🎉

[Amphenomenon]

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.

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

[KupaCrypto]

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.

[Cryptomultiplier]

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.

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

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.

[Makus]

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.

[Obim34]

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.

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.

[Ever-young]

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.

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.

[Dailyscript]

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.

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.

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