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Author Topic: Will it give fuel to skyroket for btc ?  (Read 443 times)
Wiwo
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December 30, 2023, 07:40:30 PM
 #21


I do agree that Nigeria being a bit more open to bitcoin did definitely helped a lot. People forget the difference between a nation that has money versus a nation that has rich people. Nigerians on average may not be all that rich, but they do have a lot of money in that nation and a lot of population, which means, when you combine them all together as a nation, that becomes a huge amount of money, sure a single investor may not be as rich as an American for example, unless it's a rich Nigerian, but when they combine together, they make a big difference.

This is why it's quite important to remember that when you are dealing with these type of things, you are going to end up with something that would benefit everyone all together.
And that is the most important feature of Bitcoin the ability for everyone to have bits and keep exploring the industry via knowledge and practical involvement,  indeed Bitcoin have served millions of Nigerians mostly youths who sees the opportunity as a golden chances for them to involve in a technology that gives freedom from third-party involvement and privacy,  this is opposites of what we used to have with the Nigeria before cryptocurrency,  where the weight of the nations and access to advance technology is only given to the rich and privileged ones.

But the narrative has changed and even when the central bank tries to impose on the rights of the youths who are the major Bitcoin adopters we never give up on the use of P2P Nigerians still found they're way around until recently when the central bank gave a reverse order,  against banks inter cryptocurrencies transaction,  although the motivations are no longer there to use banks any more but the good news is that,  Bitcoinairs in Nigeria can now freely identify with the technology and own them at will and not just hide and sick thing.

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January 05, 2024, 09:19:00 PM
 #22

If your question means will the news skyrocket the price of BTC, then my answer is, I think not.
Nigeria rose to just behind India in adoption during the restrictions, what makes you think the news of no more restrictions will 
Increase adoption and skyrocket the price? I don't even think it will skyrocket the adoption of Bitcoin in Nigeria.
Nigeria is facing a currency devaluation of over 100% and it's still rising, who'd want to rely on a currency like that when they can just rely on Bitcoin? The people of Nigeria realized this a long time ago, and so did the central bank of Nigeria, hence the restrictions.

By the way, With all due respect to Nigerians on the forum, Nigeria is a single country, they have a very unstable economic and political system, so the economic activities of that state cannot affect something like Bitcoin. Even if Bitcoin becomes legal tender in Nigeria today, it won't still skyrocket the price of Bitcoin.
Instead, it is the economic activities of other countries that will affect the economic situation of Nigeria. Like the American inflation the Russian-Ukraine war, Oil price, etc.

Of course, news updates like this are always positive news for Bitcoin and can have a positive impact, but we should not get false hope with news like this.
Bitcoin ETF and Bitcoin halving are among the things that should get our hopes up.
Bitcoin stability, Bitcoin price, updated technological advancement, and more are things that can increase Bitcoin

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February 12, 2024, 02:20:51 PM
 #23

Maybe YES or maybe NO...No assurance for this news and it was hard to rely upon something but of course, we could think could somehow give some influence to the buying people. However, as the halving is on its way closer, pumps will happen anytime and we can make this a reason for a skyrocket in the sense that halving itself has a huge impact on the market price since before.

We may consider this as a contributor to the pump but too hard to point out that would be the main reason. Because at this point, I see nothing could help the skyrocket other than halving.
It is difficult to predict that the news can and will have an impact because the situation is already approaching the halving period; however, any news will usually always have an impact, but the impact at this time may not be very significant.It is true that the halving period is approaching, and usually pumping will occur soon because the halving situation itself has provided this encouragement.But it is difficult to be able to prove with certainty that this news cannot provide encouragement, because usually bitcoin will always experience this, but because it is approaching the halving period, the situation is biased.

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February 13, 2024, 03:41:24 AM
 #24

Maybe YES or maybe NO...No assurance for this news and it was hard to rely upon something but of course, we could think could somehow give some influence to the buying people. However, as the halving is on its way closer, pumps will happen anytime and we can make this a reason for a skyrocket in the sense that halving itself has a huge impact on the market price since before.

We may consider this as a contributor to the pump but too hard to point out that would be the main reason. Because at this point, I see nothing could help the skyrocket other than halving.
It is difficult to predict that the news can and will have an impact because the situation is already approaching the halving period; however, any news will usually always have an impact, but the impact at this time may not be very significant.It is true that the halving period is approaching, and usually pumping will occur soon because the halving situation itself has provided this encouragement.But it is difficult to be able to prove with certainty that this news cannot provide encouragement, because usually bitcoin will always experience this, but because it is approaching the halving period, the situation is biased.
News having an impact is actually quite a wrong approach, it is not the news, it's the reaction to the news that has an impact. It could be the greatest news ever and if people do not react to it then it won't go up, it can be minor non-important thing and if people react well to it then it will take the price higher.

Plus, we are going to have halving and then after that it will start to go up slowly and people think that it is going to be the most important part, whereas we all know that news will take all the credit unfortunately. Like during bull run, some silly stuff will happen and price will go up and people will say it was because of the news, when in fact it went up because it is in bull period and that's what it does during bull periods.

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February 13, 2024, 06:22:12 AM
 #25

This year is the year of halving, of course there will be a bullish or uptrend. and the uptrend will last long until the peak will occur next year. the possibility of the price of bitcoin can touch at the price of 100K dollars or will touch its latest ATH even though it has not reached 100k dollars but if it touches its latest ATH price it will definitely be able to.

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February 17, 2024, 01:23:08 AM
 #26

This year is the year of halving, of course there will be a bullish or uptrend. and the uptrend will last long until the peak will occur next year. the possibility of the price of bitcoin can touch at the price of 100K dollars or will touch its latest ATH even though it has not reached 100k dollars but if it touches its latest ATH price it will definitely be able to.
The halving will occur in an estimated 62 days from now usually, what you say is correct  an upward trend will occur. But before the halving period occurred, of course, the current price was quite surprising at $52K and moved from $50K slowly, and there was always a downward movement. Some analysts say that before entering the halving period, there will be a correction first. If this is true, of course there will be a decline, but it doesn't change that after the halving period there will continue to be an increase. It is possible that the $100K that is expected to occur in 2021 will actually arrive at the end of this year, and then next year a renewable ATH will be created.

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February 17, 2024, 10:52:38 PM
 #27

This year is the year of halving, of course there will be a bullish or uptrend. and the uptrend will last long until the peak will occur next year. the possibility of the price of bitcoin can touch at the price of 100K dollars or will touch its latest ATH even though it has not reached 100k dollars but if it touches its latest ATH price it will definitely be able to.
The halving will occur in an estimated 62 days from now usually, what you say is correct  an upward trend will occur. But before the halving period occurred, of course, the current price was quite surprising at $52K and moved from $50K slowly, and there was always a downward movement. Some analysts say that before entering the halving period, there will be a correction first. If this is true, of course there will be a decline, but it doesn't change that after the halving period there will continue to be an increase. It is possible that the $100K that is expected to occur in 2021 will actually arrive at the end of this year, and then next year a renewable ATH will be created.

The impact of the market decline already occurred in January from a price of $48k which had fallen to 38k, but we saw a significant price recovery reaching $52k this week, so my assumption is that the price decline has occurred but the market decision is focused on recovery and an increase in price reaching ATH, maybe on the way to approaching the halvig there is a high potential that the price of bitcoin will be higher than our speculation, at least the price of 60k will soon be reached this month in the next significant upward movement, I can't wait to see the price will soon reach ATH.

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February 18, 2024, 06:10:54 AM
Last edit: February 20, 2024, 10:05:32 AM by yohananaomi
 #28

This year is the year of halving, of course there will be a bullish or uptrend. and the uptrend will last long until the peak will occur next year. the possibility of the price of bitcoin can touch at the price of 100K dollars or will touch its latest ATH even though it has not reached 100k dollars but if it touches its latest ATH price it will definitely be able to.
The halving will occur in an estimated 62 days from now usually, what you say is correct  an upward trend will occur. But before the halving period occurred, of course, the current price was quite surprising at $52K and moved from $50K slowly, and there was always a downward movement. Some analysts say that before entering the halving period, there will be a correction first. If this is true, of course there will be a decline, but it doesn't change that after the halving period there will continue to be an increase. It is possible that the $100K that is expected to occur in 2021 will actually arrive at the end of this year, and then next year a renewable ATH will be created.

The impact of the market decline already occurred in January from a price of $48k which had fallen to 38k, but we saw a significant price recovery reaching $52k this week, so my assumption is that the price decline has occurred but the market decision is focused on recovery and an increase in price reaching ATH, maybe on the way to approaching the halvig there is a high potential that the price of bitcoin will be higher than our speculation, at least the price of 60k will soon be reached this month in the next significant upward movement, I can't wait to see the price will soon reach ATH.
If, as you say, last month there was a decline, then now as we approach the halving period there will be an increase as soon as possible, but it doesn't seem to be appropriate to that situation. The movement at $51K-$52K continues, and there is no significant movement to break away from $52K it seems stuck. Will it be stuck at this price for long? or indeed, it will move again soon to reach $60K at the end of this month!!!Of course, we will wait for there to be movements that can have an influence on achieving a renewable ATH.

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February 18, 2024, 03:50:57 PM
 #29

If, as you say, last month there was a decline, then now as we approach the halving period there will be an increase as soon as possible, but it doesn't seem to be appropriate to that situation. The movement at $51K-$52K continues, and there is no significant movement to break away from $52K; it seems stuck. Will it be stuck at this price for long? or indeed, it will move again soon to reach $60K at the end of this month!!!Of course, we will wait for there to be movements that can have an influence on achieving a renewable ATH.
I think you are too pessimistic about market prices which are experiencing a small correction after reaching the highest recovery since ATH was reached several years ago, market fluctuations will never be stable so every price will move every second but that is not the main guideline for market analysis, we see movements are still normal because it is normal for the market to experience a small correction or stall after the market has increased. So remain optimistic that the market will soon experience an increase in the next stage of the movement, according to many expert analyzes that the next movement will pass the previous ATH.

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February 18, 2024, 04:23:46 PM
 #30

I think you are too pessimistic about market prices which are experiencing a small correction after reaching the highest recovery since ATH was reached several years ago, market fluctuations will never be stable so every price will move every second but that is not the main guideline for market analysis, we see movements are still normal because it is normal for the market to experience a small correction or stall after the market has increased. So remain optimistic that the market will soon experience an increase in the next stage of the movement, according to many expert analyzes that the next movement will pass the previous ATH.

It is indeed quite possible for Bitcoin to surpass the previous ATH in the next price increase if it happens slowly as has happened this month when the Bitcoin price headed to over $50K. And for now everyone should think optimistically and never panic about small corrections that only occur temporarily, because people who are patient to see the next improvement will definitely not think that small corrections are a problem.

Experts also think that price corrections are a very normal thing in the market, especially when it comes to Bitcoin, which basically rarely runs in a stable price so that increases and decreases in Bitcoin prices are a normal part that everyone must understand. Because it would be very funny if even now, with so many price increases in Bitcoin that have been seen there are still people who complain and are pessimistic about small price corrections in the market.

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February 19, 2024, 10:04:53 AM
 #31

Legal legislation alone is not a sufficient reason to pump prices. If all countries decide to consider Bitcoin a legal currency, demand will not increase and the price will not change significantly, but if a company or several companies decide to invest in Bitcoin or Bitcoin is considered a legal tender, then people are forced to buy and the price will increase.
What makes you say that? As far as I understand, people are often afraid of getting engaged with Bitcoin or cryptocurrencies because of legal consequences if their countries have banned the usage of cryptocurrencies. So, if those countries lift those bans and announce that people are free to buy and hold and use Bitcoin and all other cryptocurrencies, I'm pretty sure that the adoption will increase and that means an increase in demand hence a price increase.

So, a price increase isn't just dependent on an investment that a company might make but if there is an increase in demand among the general public, and if they adopt Bitcoin and cryptocurrencies, that will also make the prices of cryptocurrencies go up significantly over time.

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February 20, 2024, 10:19:27 AM
 #32

If, as you say, last month there was a decline, then now as we approach the halving period there will be an increase as soon as possible, but it doesn't seem to be appropriate to that situation. The movement at $51K-$52K continues, and there is no significant movement to break away from $52K; it seems stuck. Will it be stuck at this price for long? or indeed, it will move again soon to reach $60K at the end of this month!!!Of course, we will wait for there to be movements that can have an influence on achieving a renewable ATH.
I think you are too pessimistic about market prices which are experiencing a small correction after reaching the highest recovery since ATH was reached several years ago, market fluctuations will never be stable so every price will move every second but that is not the main guideline for market analysis, we see movements are still normal because it is normal for the market to experience a small correction or stall after the market has increased. So remain optimistic that the market will soon experience an increase in the next stage of the movement, according to many expert analyzes that the next movement will pass the previous ATH.
Maybe what you are analyzing could be true. Indeed, the market is experiencing a small correction and, of course, that is what is expected, so that there will be no surprises that will actually damage the market, which is already starting to improve. I really hope that the movement that occurs because of the stagnation that I estimate is a normal movement that usually occurs. Of course, that is the hope that we want. I am always optimistic because the halving period is starting to approach and usually there will be movements that occur and, of course, it will provide the best. It looks like the movement will reach a renewable ATH, but maybe after the halving period or at least maybe at the end of this year., We will wait for the surprise that is expected to happen.

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February 20, 2024, 12:06:08 PM
 #33

Will definitely fuel but I don't believe it would be enough to skyrocket the market, I think that the biggest scenario that it can help fuel more towards the price skyrocket is when the scenario that involves bitcoin is going to be involving a lot of people like what happened in stimulus checks, lots of people have been using theirs to buy bitcoin back then, it has to be the same as that to really trigger something bigger and I don't think that banks being involved in crypto is going to be that one fuel we're thinking of.



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February 20, 2024, 09:23:35 PM
 #34

what makes the price of bitcoin skyrocket is not about the ETF issue anyway in my opinion. but about this year bitcoin will carry out its 4-year celebration, namely halving. because with halving its mining production will be cut to 50 percent, it will cause the supply to decrease. when the supply is reduced but the demand is high, according to the law of supply and demand, the price will rise high.

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February 20, 2024, 09:45:19 PM
 #35

what makes the price of bitcoin skyrocket is not about the ETF issue anyway in my opinion. but about this year bitcoin will carry out its 4-year celebration, namely halving. because with halving its mining production will be cut to 50 percent, it will cause the supply to decrease. when the supply is reduced but the demand is high, according to the law of supply and demand, the price will rise high.
ETF will surely have the impact in Bitcoin price today because of new money from the investors and we cannot just deny this fact. Halving might be the top reason but again, it’s not the only one since the market receives a lot of good news early this year. Bitcoin price will continue to grow as expected, congrats to those who bought at the bottom price of Bitcoin and still holding, you’re making good profit already.

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February 20, 2024, 11:00:08 PM
 #36

The news story thing boosting prices is hard to judge, alot of noise and unclear as to future or preexisting effect on the price.   Alot of news is retrospective, if there was some buying from it then thats in the price already.  I would refer to the graphs mostly as leading edge and good for questions of what if and what happens next.  Its far more like a real time feedback and gauge to mood in the price action so any prediction has at least half a chance I figure.   Today it dipped and recovered from losing the weekly average but be cautious now if it dont reach past 52880, we may need to gather some support from a pullback to 49k possibly.

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February 24, 2024, 01:42:29 PM
 #37

what makes the price of bitcoin skyrocket is not about the ETF issue anyway in my opinion. but about this year bitcoin will carry out its 4-year celebration, namely halving. because with halving its mining production will be cut to 50 percent, it will cause the supply to decrease. when the supply is reduced but the demand is high, according to the law of supply and demand, the price will rise high.
There is always a possibility that what you say is true, because now we are entering a halving period where usually there will be an increase either before or after. But it does not rule out the possibility that there is also an effect from the recognition of the ETF and the netting of so many bitcoins during the endorsement.
Bitcoin cannot be separated from the pace of any news that concerns itself, especially from information via social media.
But we are just grateful for the halving so that there is an increase which always occurs every 4 years. Hopefully this will also affect altcoins.

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February 24, 2024, 07:34:33 PM
 #38

-snip-
There is always a possibility that what you say is true, because now we are entering a halving period where usually there will be an increase either before or after. But it does not rule out the possibility that there is also an effect from the recognition of the ETF and the netting of so many bitcoins during the endorsement.
Bitcoin cannot be separated from the pace of any news that concerns itself, especially from information via social media.
But we are just grateful for the halving so that there is an increase which always occurs every 4 years. Hopefully this will also affect altcoins.
Halving and ETF are a nice package to wrap up as fundamentals to consider over the long term. Both allow the demand for bitcoin to increase, making the price volatility higher, making you profit or lose. You can wait for prices to become more expensive after the halving, but of course this will not happen instantly - meaning you still have to be patient because the increase requires a process.

Many bitcoin holders are already preparing their investmen for returns - they are also preparing their portfolios. They buy a lot and accumulate - of course they do so because they really hope that ETFs and halvings can provide them with returns. Optimism exists among holders - a repetition of history in the 4 year cycle is expected, but do so at your own risk.

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yohananaomi
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February 26, 2024, 07:00:50 AM
 #39

-snip-
There is always a possibility that what you say is true, because now we are entering a halving period where usually there will be an increase either before or after. But it does not rule out the possibility that there is also an effect from the recognition of the ETF and the netting of so many bitcoins during the endorsement.
Bitcoin cannot be separated from the pace of any news that concerns itself, especially from information via social media.
But we are just grateful for the halving so that there is an increase which always occurs every 4 years. Hopefully this will also affect altcoins.
Halving and ETF are a nice package to wrap up as fundamentals to consider over the long term. Both allow the demand for bitcoin to increase, making the price volatility higher, making you profit or lose. You can wait for prices to become more expensive after the halving, but of course this will not happen instantly - meaning you still have to be patient because the increase requires a process.

Many bitcoin holders are already preparing their investmen for returns - they are also preparing their portfolios. They buy a lot and accumulate - of course they do so because they really hope that ETFs and halvings can provide them with returns. Optimism exists among holders - a repetition of history in the 4 year cycle is expected, but do so at your own risk.
You are right, a very interesting combination between ETFs and the time of the halving, which complement each other for now when the halving period is being awaited. Clearly, this will also have an impact in the future, of course, from the influence of ETFs.
It's true, that this will increase demand and create a positive effect where prices will increase sharply. I think that after the halving period it will definitely not increase immediately, but I agree that it will happen gradually and needs a process for it to happen, certainly not instantaneously.
All investors have clearly prepared themselves to welcome an increase that will make profits for them. Optimism will be created by the upcoming increase, because Bitcoin will always have a waiting period and repetition.

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hugeblack
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February 26, 2024, 09:09:56 AM
Last edit: February 27, 2024, 08:26:05 AM by hugeblack
 #40

If you had a balance in an exchanger and the daily account limits were $1,000, but they decided to increase it to $10,000 per day, this does not mean that you will be able to withdraw that amount daily. If Bitcoin was banned in China and the ban was lifted, it is positive news and will affect demand, but it will definitely not lead to an explosion. The price, unless there is a large demand for Bitcoin, is completely different from ETFs.

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