• Bitcoin and Ethereum prices have been on the rise for the past few months, and investors are wondering if another 5% increase is possible today.
• Cryptocurrency markets had a positive start on January 30th with global crypto market capitalization growing by 1.77%.
• In Nigeria, the price of 1 BTC costs 17.8 million Naira, representing a more than 60% premium over the current market price of Bitcoin.
Bitcoin Prices and Ethereum Prediction; Is Another 5% Rise Possible For BTC And ETH Today?
Bitcoin and Ethereum prices have been steadily rising for the past few months, leading many investors to question whether another 5% increase is possible today.
Risk-On Crypto Mood: What You Need To Know About The Current Market Opportunities
Cryptocurrency markets saw positive growth on January 30th, with global crypto market capitalization increasing by 1.77%, and total trading volume increasing by 24.92%. This success can be attributed to favorable market conditions, increased institutional buying, and anticipation around extensive utilization.
However, there is potential for negative impacts if the US Federal Reserve decides to raise interest rates beyond what was expected in the market.
Understanding The Bitcoin Premium In Nigeria: What You Need To Know
The Central Bank of Nigeria has continued to encourage its citizens to use digital currency, causing Bitcoin prices in the country to skyrocket far above market levels. Currently, 1 BTC costs 17.8 million Naira (or $38,792) compared to the current global market price of $23,700.
Impact Of The CBN’s Actions On The Local Economy
By encouraging citizens to use digital currency through restrictions on ATM cash withdrawals, the Central Bank of Nigeria is attempting to accelerate their transition into a cashless society.