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

[Out of mind]

According to the Binance exchange, the price of the NGN and the CBN market differ a lot. And it's not the small difference that most people get confused about.



CBN rates are low, 3,538,041 NGN more Binance exchange rate.
It's natural that everyone will be hesitant because the rate is so low in CBN.

1 BTC= 20,108,953₦ CBN rate
1 BTC= 23,646,994₦ Binance Exchange rate

[Agbe]

As of today in Binance Exchange rate of BTC/NGN price.

The price will still go down more but it will rise up in the month of November upward and that is it rise up before the year will end. Even at the end of today the price will still reduce more than at it is now.

[Charles-Tim]

The price will still go down more but it will rise up in the month of November upward and that is it rise up before the year will end. Even at the end of today the price will still reduce more than at it is now.

The buy price of bitcoin is around ₦24 million while the sell price around ₦27 million. United States dollars at ₦927/928. Are you sure that this is going to fall back? Probably bitcoin may reduce which could be the reason, but it will increase back. Any fall will notice is not likely that naira appreciate in value. If care is not taken, dollar to naira may increase above ₦1000 before this year will end. Nigerians do not have confidence in naira anymore and they have seen buying bitcoin, other cryptocurrencies like stable coins, and they have been buying dollar and other foreign currencies like euro and pounds sterling to be ways of saving and investing.

[Mate2237]

Wow!!!  Bitcoin just hit $28k again and the speed that im dey take dey go up e dey very good. And those wey invested wen im been dey 25$k go see small profit now. Probably before this week fo end, the price it reach $30k back again. Well we no fit predict for bitcoin because im way e no dey pure, im just dey rise and falling tone just like say na English tone. Joke apart di price is doing well now. If anyone wants to invest it is not too late still do am and you go benefit plenty before even this year go end.

 Ow day di price is rising make everyone be on the standby to sell di unit wey dem go fit use for like one month and continue the hodling of the rest. Though everyone has has their own way of planning.

[DaNNy001]

Wow!!!  Bitcoin just hit $28k again and the speed that im dey take dey go up e dey very good. And those wey invested wen im been dey 25$k go see small profit now. Probably before this week fo end, the price it reach $30k back again. Well we no fit predict for bitcoin because im way e no dey pure, im just dey rise and falling tone just like say na English tone. Joke apart di price is doing well now. If anyone wants to invest it is not too late still do am and you go benefit plenty before even this year go end.

 Ow day di price is rising make everyone be on the standby to sell di unit wey dem go fit use for like one month and continue the hodling of the rest. Though everyone has has their own way of planning.

Oga the price movement no be new thing again especially for those people wey plan to hold their coins for a very long time but for all this time holder this na perfect time for them to gather small profit again. This sudden rise in price na watin make people for the community dey always suggest say DCA strategy nai be the best just imagine say you been dey buy bitcoin all this while wey the coins actually dey 25k your bitcoin value for get small increase rather than waiting for the price to a particular fixed amount before buying.

[Charles-Tim]

Bitcoin price increased yesterday significantly because of the SEC suit against Grayscale. Grayscale won the suit in court yesterday, which is about Grayscale ETF  Bitcoin Trust that SEC wants the court to nullify.

Bitcoin increased from $26000 to slightly over $28000, but I noticed no much effect against naira as naira in the parallel market depreciated to ₦926 to $1 yesterday before 3 pm when bitcoin price started to increase, but naira started to appreciate at the time and now ₦907 which makes bitcoin price to still be around ₦25 to ₦27 million. I noticed that for bitcoin sellers, the price is now around ₦26.5 million, but ₦25.1 million for buyers.

Edit:
Another good reason that could have resulted to yesterday price increase: CB Consumer Confidence delivers another blow on the US and USD

What that means is that USD also depreciated in value yesterday, but I was thinking that it is naira that's appreciated in price that makes the effect not to be that much on naira. No wonder bitcoin did not that increased if compared with naira.

[Mate2237]

~

I was thinking that $27+l price of yesterday would stay small for like one month but it seems that the price is reducing again to or normal position of $26k. I believed that yesterday increase of price made some people to sell some of their bitcoins to pay bills and solve some issues. And that is why those who are always in the selling side are happy when bitcoin goes up. Though people use the bear market to buy more and store it in their wallets.

As of today analysis, naira depreciate and dollar was appropriating in the stock market.

[Majestic-milf]

 For now, Bitcoin price go dey shake Wella and that small increase wey bin occur wey push im price to $28,900k nah as a result of the Grayscale ETF approval. For now, speculators still dey confident say e go enter $30-35k before the end of August but as e be price dey even dip instead and as at time of writing, Bitcoin price is $26,005. Nah to still believe say e go rise soon because at the start of the year, it was trading at $16,605. So many factors dey behind its instability and as the US Fed don add pressure on interest rate hikes coupled with inflation, the price fit still drop.

[Charles-Tim]

Nah to still believe say e go rise soon because at the start of the year, it was trading at $16,605. So many factors dey behind its instability and as the US Fed don add pressure on interest rate hikes coupled with inflation, the price fit still drop.

It is difficult to know for now if bitcoin will increase in price, it may increase or it might continue to decrease. If bitcoin price will decrease, $20000 would be a good price to buy large amount. The support is strong at $25000/26000, but bitcoin is having resistance and not going further higher and $30000 seem difficult to be attained for now. NCAing would be good for now which is always a good investment strategy.

The two big expectations we are waiting for are bitcoin spot ETF and bitcoin halving. The days these two expectations would occur is approaching. Bitcoin at ₦23,600,000 is still a small price to what is coming in the next two years. It is highly advisable for people to continue NCA.

[Majestic-milf]

It is difficult to know for now if bitcoin will increase in price, it may increase or it might continue to decrease. If bitcoin price will decrease, $20000 would be a good price to buy large amount. The support is strong at $25000/26000, but bitcoin is having resistance and not going further higher and $30000 seem difficult to be attained for now. NCAing would be good for now which is always a good investment strategy.

The two big expectations we are waiting for are bitcoin spot ETF and bitcoin halving. The days these two expectations would occur is approaching. Bitcoin at ₦23,600,000 is still a small price to what is coming in the next two years. It is highly advisable for people to continue NCA.

For now, we have to be content with the price for now because I see $30k as too much expectations considering as there hasn't been much ETF approval as of late and there hasn't been any major buy too. RN, it's to just hope that price of Bitcoin will increase rather than do the opposite.
As of time of writing this post, BTC price is; $26,742.50 and so maybe it could cross to $27 or 28k before the week runs out as it did during Sunday through to Monday of this week.

[Charles-Tim]

What I noticed recently is that the price of dollar to a naira is almost ₦1000. As at today, the dollar is ₦990 to a dollar. Even if bitcoin did not increase in price (I am not saying the price of bitcoin did not increase), its value in naira still continue to increase. Bitcoin is almost ₦26,400,000. Some people said dollar will likely be ₦1000 this year, this is about to happen.

When comparing bitcoin and naira, holding bitcoin has been proven better.

[Majestic-milf]

When comparing bitcoin and naira, holding bitcoin has been proven better.

No doubt about that but this naira issue is disturbing. As at yesterday, naira traded at #983 to a dollar but just today, has risen to #993. If cares not taken before the week runs out, we can see it trading at a #1000 and this brings me to wonder what new measure the president will bring to combat this.

[Charles-Tim]

1 United States dollar is now over ₦1000 today. This is because naira keeps depreciating. Bitcoin also continue to appreciate against naira. The price of bitcoin today is over ₦26 million.

Let us see what CBN is planning, if they are going to divide naira by 100 in a way to increase its price against United States dollar and other fiat currencies.

Even as bitcoin is relatively less volatile, its price continue to appreciate against naira. It is worth holding than naira.

[Majestic-milf]

1 United States dollar is now over ₦1000 today. This is because naira keeps depreciating. Bitcoin also continue to appreciate against naira. The price of bitcoin today is over ₦26 million.

Let us see what CBN is planning, if they are going to divide naira by 100 in a way to increase its price against United States dollar and other fiat currencies.

Even as bitcoin is relatively less volatile, its price continue to appreciate against naira. It is worth holding than naira.

Well it looks like they don't have anything planned for the naira because as of today, the naira to dollar conversion rate is #1,005. If I were to make a suggestion tho, I feel the government look to pairing Bitcoin with the local fiat just as El Salvador did but that will be a difficult one to accept by them.

 This brings me to believe that most of them are not really affected by the devaluation else better measures would have been thought up.

[Wiwo]

1 United States dollar is now over ₦1000 today. This is because naira keeps depreciating. Bitcoin also continue to appreciate against naira. The price of bitcoin today is over ₦26 million.

Let us see what CBN is planning, if they are going to divide naira by 100 in a way to increase its price against United States dollar and other fiat currencies.

Even as bitcoin is relatively less volatile, its price continue to appreciate against naira. It is worth holding than naira.

Well it looks like they don't have anything planned for the naira because as of today, the naira to dollar conversion rate is #1,005. If I were to make a suggestion tho, I feel the government look to pairing Bitcoin with the local fiat just as El Salvador did but that will be a difficult one to accept by them.

 This brings me to believe that most of them are not really affected by the devaluation else better measures would have been thought up.

The current value of Naira have been long expected over a year ago when the united States dollar first touched #700+ at that point the then government made some currency pump to keep the price at that level to avoid touching the 1,000 or above, until after the election and the handing over,  I am glad the current government was smart enough to have pushed off the who possible blames and set ups by the past administration which is recorded as the most economic reckless administration in the history of Nigeria.

Even though a few number of citizens still blame the current administration for removing subsidies not knowing the real muster behind the ball,  it is good for us to have a feel of the reality instead of leaving as a nation on subsidies on everything and depending on importations.

If we can solve those two mentioned issues which are subsidy and importstions then we will be able to position the economy on a prosperous part again.

[Agbe]

1 United States dollar is now over ₦1000 today. This is because naira keeps depreciating. Bitcoin also continue to appreciate against naira. The price of bitcoin today is over ₦26 million.

Let us see what CBN is planning, if they are going to divide naira by 100 in a way to increase its price against United States dollar and other fiat currencies.

Even as bitcoin is relatively less volatile, its price continue to appreciate against naira. It is worth holding than naira.

Well it looks like they don't have anything planned for the naira because as of today, the naira to dollar conversion rate is #1,005. If I were to make a suggestion tho, I feel the government look to pairing Bitcoin with the local fiat just as El Salvador did but that will be a difficult one to accept by them.

 This brings me to believe that most of them are not really affected by the devaluation else better measures would have been thought up.

The current value of Naira have been long expected over a year ago when the united States dollar first touched #700+ at that point the then government made some currency pump to keep the price at that level to avoid touching the 1,000 or above, until after the election and the handing over,  I am glad the current government was smart enough to have pushed off the who possible blames and set ups by the past administration which is recorded as the most economic reckless administration in the history of Nigeria.

Even though a few number of citizens still blame the current administration for removing subsidies not knowing the real muster behind the ball,  it is good for us to have a feel of the reality instead of leaving as a nation on subsidies on everything and depending on importations.

If we can solve those two mentioned issues which are subsidy and importstions then we will be able to position the economy on a prosperous part again.

Early this year, I predicted that, $1 go reach #1000 and some of my guys been dey argue with me and today all of them e don see am finished and nobody fit tok anything again because Tinubu government e don disappoint dem. And now dat $1 is #1000 then it means $1000 is #1,000,000 in Nigeria Currency. And when I discussed this matter in a local boat which I was using to cross a creek and said, Goodluck Jonathan regime was the best in the 21s president in Nigeria omen,boys nearly descend on me. They debunked me and said Goodluck was the worse ever in Nigeria Politics. But in my analysis Goodluck Jonathan time 1$ was #150 and comparing to now, there is a big difference.  Well today bitcoin price is going up and before the year will end it will climb up to 45k$

[Charles-Tim]

Well it looks like they don't have anything planned for the naira because as of today, the naira to dollar conversion rate is #1,005. If I were to make a suggestion tho, I feel the government look to pairing Bitcoin with the local fiat just as El Salvador did but that will be a difficult one to accept by them.

Dollar to naira git to ₦1000 the day the new CBN governor got to office, but I was surprised that after they time, the rate is hanging around ₦1005 and ₦1006 for days until I saw it belong ₦1000, around ₦990. The next day was yesterday that you posted imthis has it got back above ₦1000 and now around ₦995 to ₦997. The volatility has been reduced for now, but I do not have believe in naira and likely possible that some things will occur that may further depreciate the value of naira.

This brings me to believe that most of them are not really affected by the devaluation else better measures would have been thought up.

Yes, you are correct. Many of the politicians and rich men knows that naira has depreciating value, they have properties and domiciliary account. Some of them even have foreign accounts and properties. Africans are wise but in a way the Whites are favoured more than their country because they do not have believe in naira.

If we can solve those two mentioned issues which are subsidy and importstions then we will be able to position the economy on a prosperous part again.

If I should be earnest about this, Nigeria problem is more than these. And it is like as some people wants rain, some people wants sun. As naira is depreciating, do you know it is the happiness of some people? Especially those that are earning in dollars and those that have money in dollars. Many Nigerians have the mentality to save in dollars and do not have the confidence to let their money to remain in naira, it is like Nigerians dollarizing the economy themselves which is beyond the government capability. Although this started from the government not competent to manage the economy properly.

Early this year, I predicted that, $1 go reach #1000 and some of my guys been dey argue with me and today all of them e don see am finished and nobody fit tok anything again because Tinubu government e don disappoint dem.

Our government are disappointment, that is why we need to be wise. Bitcoin  . Especially in time when the price is low.

[Charles-Tim]

Here is very dry. But otherwise is the case as naira value continues to depreciate as usual. Not new anymore that naira has gotten to over $1000 to a dollar, but naira value continued to depreciate further and now at ₦1142 to $1 at the parallel market. Bitcoin also increased even if compared with United States dollar and the price in P2P market is now above ₦32 million. Bitcoin has proved itself to be a hedge against the inflation in Nigeria. Buying now will be an opportunity because its price is still undervalued.

[CryptoHeadlineNews]

Here is very dry. But otherwise is the case as naira value continues to depreciate as usual. Not new anymore that naira has gotten to over $1000 to a dollar, but naira value continued to depreciate further and now at ₦1142 to $1 at the parallel market. Bitcoin also increased even if compared with United States dollar and the price in P2P market is now above ₦32 million. Bitcoin has proved itself to be a hedge against the inflation in Nigeria. Buying now will be an opportunity because its price is still undervalued.

O.M.G... This is indeed really heartbreaking for people still having their funds saved in our Nigerian fiat currency "Naira", because just as the price has kept on depreciating, so will it continue till further notice, because at first when I saw this statement of yours, I never believed it because when last I check the value was still at #1040 per $1, not until I ran to Binance, and could confirm it myself that in just 24hrs the value of Naira to Dollar has fallen by 5.9% just as show below.
 
Hence, in other to avoid this continued inflation, now is the best time for whoever has their funds in a traditional bank to sharperly move such funds to investing in either Bitcoin or a domiciliary dollar account.

[Samlucky O]

Here is very dry. But otherwise is the case as naira value continues to depreciate as usual. Not new anymore that naira has gotten to over $1000 to a dollar, but naira value continued to depreciate further and now at ₦1142 to $1 at the parallel market. Bitcoin also increased even if compared with United States dollar and the price in P2P market is now above ₦32 million. Bitcoin has proved itself to be a hedge against the inflation in Nigeria. Buying now will be an opportunity because its price is still undervalued.

O.M.G... This is indeed really heartbreaking for people still having their funds saved in our Nigerian fiat currency "Naira", because just as the price has kept on depreciating, so will it continue till further notice, because at first when I saw this statement of yours, I never believed it because when last I check the value was still at #1040 per $1, not until I ran to Binance, and could confirm it myself that in just 24hrs the value of Naira to Dollar has fallen by 5.9% just as show below.
 
Hence, in other to avoid this continued inflation, now is the best time for whoever has their funds in a traditional bank to sharperly move such funds to investing in either Bitcoin or a domiciliary dollar account.

It's true  though. but it can only be favourable to Bitcoin adopters. I think this is another way of massive Bitcoin adoption. This will serve as a warning to the government to remove the ban placed on Bitcoin and use it as a legal tender just like El Salvador.

But the funny truth here is that, having your fund on Bitcoin or usdt can only maintain the value of your money against the falling Fiat. But doesn't mean you have made profit, except Bitcoin rises. Because as fiat falls against dollar so price of commodity increases to meet the current status of your money in usdt. for example the goods you bought at #1040 yesterday today would be bought at #1142. So the only difference is that you have save yourself a lost of 1142-1040=102naira