On August 11, BTC/USD slumped to $39,223 low as it may bounce from $40,000.
Following the recent breakdown of the $40,000 psychological price level, the bears were bent on pushing Bitcoin to the low of $37,000.
According to a recent study, growth in crypto adoption in Nigeria has been accelerated by limited access to affordable fiat-based financial services.
A study in the last six months has indicated that 35% or 33.4 million people in Nigeria between the ages of 18 to 60 have owned or traded cryptocurrencies.
For the past three days, the BTC price has been struggling in a tight range after the last bearish impulse.