Bitcoin live price
In a new report titled Bitcoin: Knowledge and Perception, the Block company presented the perceptions of citizens of 14 countries on the queen of cryptocurrencies. According to the survey, Nigeria, India, Argentina and South Africa are more positive about Bitcoin than most other countries.
This situation can be explained by the volatility of the national currencies of these different countries, which then makes BTC an asset to protect against inflation. In Nigeria, for example, the leading African economy in terms of GDP, the naira has lost more than 60% of its value over the past ten years. The rupee has lost a fifth of its value against the US dollar, so this drop is estimated at 50% for the rand.
BTC has a growing success in Africa
Two of the countries mentioned in the Block, inc. are in Africa. It is no coincidence that cryptocurrencies, and particularly Bitcoin, are of great interest to Africans. Some States are following the movement and, after the Central African Republic which legalized BTC a few days ago, it is the turn of Uganda to consider regulating cryptocurrencies.
While the BTC has struggled to lift off from the $30,000 mark for a few days, can’t expect a rally above $32,649.28, according to FXStreet. Analysts then expect a slight decline to test this support level and then a rally towards $34,000.
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Alm Maye has been a trader and analyst since 2013. He is an expert in equity markets, Forex and cryptocurrencies. He is the creator of Almvest.com and Imveste.com, two sites dedicated to personal finance. He participates in the development of feature articles on specialized sites such as Actions-boursieres.fr, as well as the international network of Finixio.com.