Bitcoin, Ethereum ‘fever’ Gone Down in Nigeria as Cryptocurrency Prices Remain ‘Stagnant’

(Last Updated On: March 5, 2018)

#BitcoinNigeria | #EthereumNigeria

Bitcoin,Ethereum ‘fever’ gone down in Nigeria as cryptocurrency prices remain ‘stagnant’

Bitcoin fever seems to have gone down in Nigeria at the start of 2018 as the most valuable cryptocurrency has been struggling for weeks to break its own record set in December 2017.

Bitcoin price, according to coinmarketcap, Monday, March 3, 2018, (7:05AM) was valued at $11,536, gaining 2.70% in the last 24 hours.

Nigerians actively got involved in cryptocurrency trading at the beginning of bitcoin boom, which gave birth to more than 30 e-currency exchangers adding crypto trading into their platforms.

Largest percentage of those who trade in cryptocurrencies here in Nigeria is involved in bitcoin, followed by ethereum, then litecoin, bitcoin cash, monero, dash, and ripple in that order.

This sect of traders are more familiar with luno, remitano, paxful, nairaex, and localbitcoin as their trading platforms considering their reputation and year of experience in cryptocurrency market.

Ethereum was $868.54, gaining 2.56% in the last 24 hours, while bitcoin cash stayed at $1,278.64, gaining 3.13% in the last 24 hours.

In various crypto groups I belong, number of bitcoin posts has gone down by more than 60% . Members of the groups were only active when price shows a slight increase.

When prices go down, members remained mute while some of them ask questions like: Will bitcoin reach $50,000 before the end of 2018? Can I still buy more ethereum?

Bitcoin has a tradition of going up and down, remaining stagnant before taking a speed to break its own earlier record set.

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Whether the fever has gone because of the current seemingly stagnant value of cryptocurrency, the new technology looks brighter as more known institutions are taking a plunge into it everyday.

Invest wisely.

How is bitcoin fever in your country, has it gone down too?

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