The Bitcoin prices has recently seen an uprising in Nigeria. It has risen by 60 staggering percents as the Nigerian government has prevented the people from ATM cash transactions. The Bitcoin prices are exponentially increasing dramatically compared to the prices of some other countries. Even though the market price currently has been revolving around $38,792 per coin.
The prices of the cryptocurrency is skyrocketing in Nigeria as the bank of Nigeria (CBN) has prevented ATM cash transaction for the locals to roughly 50 dollars a person. The sudden decision has caused drastic panic among the taxpayers of the country. A lot of them therefore are now considering Bitcoin to be a good option to protect their money. The high demand for Bitcoin is increasing the premium of the crypto coin to 60%. This means that it might go upwards to $86k for each coin.
However, Nigeria is not any exception. The price of Bitcoin has been increasing tremendously in different countries across the globe. India is also among those countries that is currently experiencing such a rise as a result of its ban on crypto. Because of this, there is a 25% premium on Bitcoins in the nation due to rising demand.Similar to Argentina, which is now experiencing a financial crisis, Bitcoin recently saw a 10% premium.
Bitcoin Experiencing Rise In Prices Across The World:
The surge in BTC’s premium in Nigeria is a testament to its growing popularity and its potential as a currency that can protect users from currency restrictions. Although the current situation in Nigeria is unlikely to last forever, it does highlight the potential of cryptocurrencies to provide a safe haven for people in times of economic uncertainty.
Bitcoin has seen a surge in popularity around the world in recent years, with many countries now considering it a legitimate currency. This recent surge in Nigeria is just one example of how cryptocurrencies can be beneficial in times of crisis, and it will be interesting to see if other countries follow suit.
Bit currency is seeing an extraordinary increase not just in other countries but now around the globe as well. This year’s cryptocurrency market may remain optimistic all year long.
