₦airaland Forum

GRACEGLORY:
We break these supports, we go ballistic. If not, BTC hits $21,000-21,500 and then, nose dive.

deflover:
Yes by next year

solreb:
What caused USDT to Naira price to crash on p2p. Price is now N765. I sold for N850 yesterday. Normally when market does the Naira price on p2p always goes high.

solreb:
What caused USDT to Naira price to crash on p2p. Price is now N765. I sold for N850 yesterday. Normally when market does the Naira price on p2p always goes high.

Omobola121:
@deflover ;

deflover:
I think that naira design policy is helping the naira
Since the window for the change is tight
It means the available naira is circulation that won't get in would be void
Creating a kind of man made scarcity
So it means like when buy back coins and burn it

solreb:
What caused USDT to Naira price to crash on p2p. Price is now N765. I sold for N850 yesterday. Normally when market does the Naira price on p2p always goes high.

lrman:
Nah.. the dollar itself was weak within the last few hours...usdt is pegged to the dollar na..so a weak dollar will lead to drop in price of usdt...so it is normal for usdt/ngn pair to drop in price.....A weak usdt will make naira look strong , same way a strong dollar will make naira look weak...

lrman:
Let me break it down in a simple way....

If usdt is $1...and that 850 naira you mentioned is equal to 1 usdt...

If the usd became weak and the pegged price of usd to usdt dropped from $1 to $0.95....of course mathematically it means 1 usdt will now be $0.95 * 850naira and that will give you 807naira..which means the naira rate per dollar will drop from 850 to 807....just used the figure as an example to make you understand what I am saying..

The bottomline is that the naira is still shit..the only reason why it seem like the price dropped is because the dollar itself is weak..it is not just naira that gained against the dollar.. all the currencies trading against the US Dollar will gain against it...

Infact if not for the FTX saga , normally a weaker dollar will lead to a stronger bitcoin price...while a stronger dollar will lead to a weaker bitcoin price....That is why you will see that when dollar is weak , the bitcoin market will be bullish most of the time at that moment , and when the dollar is strong, the bitcoin market will be bearish at that moment most of the time..
If you’re interested in learning forex trading, you can text me on this number +2348140852724. I’m going to teach you the best approach to looks at the market and we will talk more about psychology too


forex traders will understand better sha..

lrman:
Let me break it down in a simple way....

If usdt is $1...and that 850 naira you mentioned is equal to 1 usdt...

If the usd became weak and the pegged price of usd to usdt dropped from $1 to $0.95....of course mathematically it means 1 usdt will now be $0.95 * 850naira and that will give you 807naira..which means the naira rate per dollar will drop from 850 to 807....just used the figure as an example to make you understand what I am saying..

The bottomline is that the naira is still shit..the only reason why it seem like the price dropped is because the dollar itself is weak..it is not just naira that gained against the dollar.. all the currencies trading against the US Dollar will gain against it...

Infact if not for the FTX saga , normally a weaker dollar will lead to a stronger bitcoin price...while a stronger dollar will lead to a weaker bitcoin price....That is why you will see that when dollar is weak , the bitcoin market will be bullish most of the time at that moment , and when the dollar is strong, the bitcoin market will be bearish at that moment most of the time..



forex traders will understand better sha..

Tolu1992:
Hope solana is not going the luna way like this

lrman:
Basic economics is not rocket science...as long as the Nigerian government do not do the right thing , as long as they do not fix the economic problem.. The naira rate per dollar will keep increasing...it will reach 900naira before end of this month...you can screenshot my comment..and come back to quote me....

Forget all these temporary movement you are seeing today which made naira to be 770 naira at the moment...na initial gra gra just the way it keeps doing all these while..it will appreciate in very few days then depreciate continuously again...and the cycle goes on and on..

Demand and supply controls the price...the price did not fall from heaven on its own..

Chikacha:
At this point even USDT is not safe.

lrman:
Let me break it down in a simple way....

If usdt is $1...and that 850 naira you mentioned is equal to 1 usdt...

If the usd became weak and the pegged price of usd to usdt dropped from $1 to $0.95....of course mathematically it means 1 usdt will now be $0.95 * 850naira and that will give you 807naira..which means the naira rate per dollar will drop from 850 to 807....just used the figure as an example to make you understand what I am saying..

The bottomline is that the naira is still shit..the only reason why it seem like the price dropped is because the dollar itself is weak..it is not just naira that gained against the dollar.. all the currencies trading against the US Dollar will gain against it...

Infact if not for the FTX saga , normally a weaker dollar will lead to a stronger bitcoin price...while a stronger dollar will lead to a weaker bitcoin price....That is why you will see that when dollar is weak , the bitcoin market will be bullish most of the time at that moment , and when the dollar is strong, the bitcoin market will be bearish at that moment most of the time..



forex traders will understand better sha..

Geovanni412:
Tbh, BTC is the only asset dropping massively against the dollar. Trying to time it with Nasdaq or any other 'correlated' pair would have been an absolute failure. Truth is that the market can remain irrational longer than you can remain solvent. Even the best strategy will fail at one point. When deflover was posting back to back losses, everyone was on his case but now BTC is so close to 14k,na humble pie we come dey swallow. .

Daemo111:
Is it safe to say the new ability to credit NGN directly from one's bank account and buy USDT without buying from binance p2p as helped naira gained somehow. Cos normally during dips like this, usdt price always go berserk.

Binance p2p guys has been major place where even d BDC guys checks to mop up thr prices too.

19k-13k (even if its a long wick) was written allover btc chart and its really worrying that all the so called analyst here couldn't see it and were all focused on the news.

We would see the bottom this month and would close the year around 28k per BTC.

I have been waiting for this time to start DCA and its important to note that it would take many months or until 2024 to see this low prices again.

I am not trying to form anything, just giving what I am seeing by charts, btc trends and history at least sharing knowledge is what this forum is all about.

solreb:
What caused USDT to Naira price to crash on p2p. Price is now N765. I sold for N850 yesterday. Normally when market does the Naira price on p2p always goes high.

Geovanni412:
Bro, it will reach 1,000 naira unless sth changes drastically in our economic policy. The best thing is to buy more dollar now. As for the fluctuation issue, anytime you see dollar moving rapidly on binance, don't buy. Instead fund your fx acct on your fx broker like fxtm or hotfx. Fxtm doesn't update its exchange rate daily. They do this weekly.

Geovanni412:
Tbh, BTC is the only asset dropping massively against the dollar. Trying to time it with Nasdaq or any other 'correlated' pair would have been an absolute failure. Truth is that the market can remain irrational longer than you can remain solvent. Even the best strategy will fail at one point. When deflover was posting back to back losses, everyone was on his case but now BTC is so close to 14k,na humble pie we come dey swallow. .

Geovanni412:
Bro, it will reach 1,000 naira unless sth changes drastically in our economic policy. The best thing is to buy more dollar now. As for the fluctuation issue, anytime you see dollar moving rapidly on binance, don't buy. Instead fund your fx acct on your fx broker like fxtm or hotfx. Fxtm doesn't update its exchange rate daily. They do this weekly.

iLegendd:
I'm finally 1000000% convinced that BTC will hit $13,200 in 2023 since it has already hit 15,588.[/

It's just a difference of $2,000 or $3,000. One big bad news is all it'll take for it to happen in 2023.

The second option of this video below will take place. In the video, the first option is 17,500, but the second is $13,184. Approximately $13,200.

The reason I believed this will happen is, whenever the DXY goes up, Crypto or Stock goes down. When it goes down, Crypto goes up.

But yesterday, DXY went down and Crypto went down too instead of going up.

This means, when DXY gets to 120, BTC will be around 13k or lower. Currently, DXY is at 110.20. 10% left.

Ballzproblem2:
crypto guys are getting bleeped, make I stick to boring stocks, I'mma head out

myonekobosay:
You stand to lose a lot more being out of b.t.c than being in it. Big bull flag on b.t.c. Expecting b.t.c. above 19k by Saturday