OKCoin Bitcoin price rebounds modestly as foreign demand rises

International Online Internet Finance Channel: According to the Bitcoin trading platform OKCoin , Bitcoin rebounded moderately last night and recovered some of its lost ground. According to the market data of OKCoin, Bitcoin rebounded from the lowest price of 5,183 yuan on November 22 to 5,377 yuan, an increase of 3.7% . If the current position can stand firm, then 5,300 yuan will become a mid- to long-term bottom. If the price is not stable, then the price of Bitcoin will fall back and accumulate more strength.

From the daily chart of OKCoin, on November 21 , the price of Bitcoin dropped to 5,000 yuan, and after touching the middle track of the Bollinger Band, it rebounded to above 5,100 yuan, forming a long lower shadow. There are a lot of transactions in the range of 5,100 yuan to 5,150 yuan, forming a short-term bottom. In summary, from the technical analysis of K -line, the current price tends to be bearish, while the results of big data analysis still tend to be bullish. Operation suggestions: At present, the medium and short-term operations are mainly based on bargain hunting, and high positions are not accepted.

Nigerians see Bitcoin as a safe haven

Bitcoin prices have continued to hit new highs in many parts of the world recently. The price of Bitcoin in Nigeria has exceeded $1,250. This price is obviously very interesting compared to other regions. This phenomenon proves that Nigerians are willing to pay extra to buy cryptocurrencies. Maybe it's not the way people think, but Bitcoin is destined to have an impact on this developing country.

Similar to the situation in India, Nigerians do not trust fiat currencies. In addition, the threat of domestic capital controls is forcing consumers, traders and investors to look for new opportunities. The above phenomena are all factors in the crazy rise of Bitcoin prices in the country , proving that Nigerian exchanges cannot guarantee the liquidity of cryptocurrencies, so users have to pay a premium. However, most people don't mind spending a little more.

The crazy rise in the price of Bitcoin in Nigeria can also be attributed to liquidity issues in the market. Exchanges only trade limited amounts of Bitcoin during good times, which means that this phenomenon is only temporary. Currently, Bitcoin has returned to normal levels, but there is no guarantee that a similar phenomenon will happen again.

Bitcoin is always in high demand worldwide. For most people, buying cryptocurrencies is a form of investment, and compared to precious metals, cryptocurrencies are easier to buy. However, once the demand for Bitcoin increases, the supply on exchanges will inevitably decrease, and the price of the currency will continue to rise.