Bitcoin seems to be answering the prayer of some crypto analysts who claimed the cryptocurrency will rise up irrespective of the situation of the world financial market. After breaking through the $7,000 resistance point, the leading crypto asset continues to move up steadily.
BTC is above the $7,300 today. Now, a unit of Bitcoin is priced $7,348 at press time having gained 4.32% in the last 24 hours with an equivalent of $453 added. This seems to be the general value for the parallel market.
On a more intriguing perspective, Bitcoin is trading at a higher price in Nigeria, Africa’s most populous country. According to BitcoinPriceMap, a unit of Bitcoin in Nigeria’s Major market goes for $7,900, an indication that BTC may see a heavy rise in the coming days.
For people in Nigeria, Bitcoin goes for $7,900 on LUNO, a London-based crypto exchange firm popularly used by Nigerians. On the exchange, Bitcoin’s value has risen by 8.6% in the last 24 hours. In terms of Bitcoin’s value, Nigeria ranks the highest among other world countries in the market today.
Argentina ranks second while Zambia, South Africa and Columbia followed respectively.
As revealed on the platform which illustrates the market price of the leading digital asset across the world, the global market value of the virtual currency is $7,276.
Bitcoin Ready for Post Halving Skyrocket
Crypto Trader Plan B has again stressed the viability of a bull run after the upcoming halving. He claimed that for the past 2.5 years, there has been a steady monthly inflow of $400 mln from investors into the Bitcoin market. This has helped the cryptocurrency maintain the $7,000 level, he averred.
“30d x 24h x 6blocks x 12.5btc x $7k assuming all trading is zero sum game,” Plan B deciphered.
The analyst added that if the same amount of inflow remains in the market after halving, there is a high chance the price of the leading virtual currency skyrockets. Plan B explained further that while $200 million would be needed to keep Bitcoin at $7,000 level after halving, the sum of $400 mln inflow would likely up the value of BTC.
To maintain $7000 since Oct 2017, #bitcoin must have had about $400M new cash inflow every month last 2.5 years! (30d x 24h x 6blocks x 12.5btc x $7k assuming all trading is zero sum game)
After the halving, we only need $200M per month to keep $7k level. If $400M stays, then 🚀 pic.twitter.com/d6hYJqxIUr
— PlanB (@100trillionUSD) April 6, 2020