I think the bitcoin to Naira is also greatly affected by the fact that the Naira is down against the dollar. The Naira is trading above 815 against the dollar which also increases the price of bitcoin. So far so good the I and E setting the market hasn’t helped the Naira against the other currencies but with time we shall see
If you check the rate rate at which USD increased, it is less if compared to naira, which means that naira devaluation than dollar makes the profit to be more for those holding dollar than those holding naira. But this is about naira in a way dollar should not be included. Anyone that hold bitcoin at that time will have profitbas he converts back to dollar.
But d price of BTC was #24,275,000 over some days before d price increase to #25,751,000, i don't think it bcos of d united state SEC lawsuit against Ripple lab that made d price to increase higher yesterday.
After Ripple Labs won the case, the price of cryptocurrencies began to increase. According to what I saw, Ripple increased in price the most while other coins too increased in price. But if you want to prove me wrong, you have to come with what you think caused the bull run.
Well from my studies here, I fit talk say this sudden push up of BTC price is actually normally looking at how close we are to the halving and if you dey follow up correctly you go know say the halving always follows the bull season or the other way round. So if anybody wey get small coins for their portfolio fit say them wan sell na dem sabi cuz na actually him money but if you have vision of what's coming you actually hodl well and forget this small price shoot because the major bomb dey come wey go make you smile well.
We are not still very close to halving. Halving still will take 9 months from now before it occurs.
This is just a tip of an iceberg and we should expect more coming sooner from the bitcoin market as we are planning on getting out of the dip market before the end of this year, and what the next year rate may get to is what remains unpredictable and we cannot say precisely the rate it will to high but will definitely surge, we don't know as well how long it may take to reach the #40m worth of market price but as being mentioned already that one should keep holding even though not all of us eventually will end up holding for this long.
I think bitcoin would be more than ₦40,000,000 by 2024/2025.