Bitcoin Rate History In Naira | Price during 2015-21

Bitcoin price history of Nigeria (USD to Naira) 

Bitcoin value history of Nigeria (USD to Naira) 

Bitcoin historical price of Nigeria (USD to Naira) 

Bitcoin historical value of Nigeria (USD to Naira)

Bitcoin Price History in Naira | Nigeria

Several factors play a role in deciding the price of Bitcoin, mainly supply, and demand. Since Bitcoin is an international cryptocurrency, the price of it depends on the supply of it around the world and the demand for it around the world. Nigeria is one of the top countries in cryptocurrency popularity ranking. 

Nigeria is the king of Africa in Bitcoin peer-to-peer transactions (for buying weed as Nigeria is ranking on the global list of one of the highest consumers of cannabis). Let us go to the BITCOIN PRICE HISTORY in Naira (Nigerian Currency). A lot of difficulties between 2018 and 2019 were noticed in the graph of bitcoin price.

Year	BTC/Naira
Year2015	BTC/Naira75,000
Year2016	BTC/Naira102,200
Year2017	BTC/Naira3,374,184
Year2018	BTC/Naira1,561,092
Year2019	BTC/Naira679,977
Year2020	BTC/Naira2,131,270
Year2021	BTC/Naira25,149,961

2021 (till 17th Oct)Bitcoin price in Naira 2021

Current (17th Oct): 25,149,961 Naira 

Highest: 22,883,688 Naira (16th April)
Lowest: 12,255,541 Naira (1st January)
Average: (Yet to be calculated)

Bitcoin price in Naira 2015-2017

The highest price is the peak price of a Bitcoin in Naira of a particular year. 

The lowest price is the bottom-most price of a Bitcoin in Naira of a particular year. 

The average price is calculated using half of the sum of the price of a Bitcoin in January and December of a specific year. 

2015: 

Highest: 91,727 Naira (December)

Lowest: 64,370 Naira (November)

Average: 75,000 Naira 

2016: 

Highest: 305,940 Naira (December)

Lowest: 76,282 Naira (January)

Average: 1,02,200 Naira

2017:

Highest: 7,034,703 Naira (15th December)

Lowest: 260,860 Naira (13th January)

Average: 3,374,184 Naira 

Bitcoin price in Naira 2018-2020

2018: 

Highest: 6,104,339 Naira (5th January)

Lowest: 1,350,010 Naira (28th December)

Average: 1,561,092 Naira

2019: 

Highest: 4,271,472 Naira (28th June)    

Lowest: 1,321,610 Naira (12th January)

Average: 679,977 Naira 

2020: 

Highest: 10,092,384 Naira (25th December)

Lowest: 1,887,898 Naira (13th March)

Average: 2,131,670 Naira

How Bitcoin Price Is Determined

The value of Bitcoin is dependent on many factors, be it the market condition or global economical state. We have to be conscious of the point that bitcoin doesn't have value on its own, rather we have elaborated its value by giving it importance in the monetary world. Although physical components such as gold likewise don't have any power on their own, it's just due to their rareness/scarcity by which the market has increased. 

If we consider a hypothetical planet where gold's presence is more than wood, then the wood would be costlier than gold provided the fact that wood is a basic necessity for the inhabitants living on that planet. The entire game of price determination is in the hand of supply and demand, including few more circumstances.

Factors deciding the price of Bitcoin:

• Supply
• Demand