Bitcoin Price Prediction as BTC Keeps Selling Off – Is Negative ETF News on the Way?
In the ever-dynamic world of cryptocurrency, Bitcoin continues to be a focal point of market activity. As of Sunday, Bitcoin is trading at $42,270, marking a slight increase of 0.52 percent. Amidst this fluctuating landscape, Nigeria’s Yellow Card projects a significant boom in cryptocurrency once the country’s central bank relaxes its current restrictions.
Further stirring the market, Bitwise has revealed plans to seed a Bitcoin ETF with a substantial $200 million, as detailed in a recent SEC filing.
These developments hint at potential shifts in Bitcoin’s trajectory, sparking discussions and speculations about its future valuation.
Following the easing of crypto transaction bans by the Central Bank of Nigeria (CBN), Yellow Card, a leading Nigerian crypto exchange, foresees a significant increase in cryptocurrency adoption.
Lasbery Oludimu, the Chief Data Protection Officer, views this development as a chance to enhance legitimacy and integration with the traditional financial system. He expects a surge in user adoption.
With the CBN providing regulatory clarity, the peer-to-peer market is likely to evolve, fostering heightened competition and innovation within Nigeria’s crypto landscape.
Africa's Yellow Card will “immediately” apply for a license in Nigeria after the country’s central bank lifted a ban on cryptocurrencies https://t.co/QiHlBtLNos
— Bloomberg Crypto (@crypto) December 23, 2023
Yellow Card anticipates a dramatic rise in Bitcoin usage by 2024, as banks re-enter the scene, potentially enhancing competitiveness, efficiency, and collaboration between conventional finance and digital assets.
The CBN’s guidelines are designed to establish a regulated environment, thereby bolstering confidence and trust in the Nigerian
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