Nigeria is set to pass a bill that can recognize Bitcoin (BTC/USD) as well as cryptocurrencies.
The main goal is to keep up with global practices, and if the Investments and Securities Act 2007 (Amendment) Bill is signed into law, it could enable the local Securities and Exchange Commission to recognize cryptocurrency and other digital funds as capital for investment.
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Nigerian-based Punch Newspapers first published the news on December 18.
In other Bitcoin news, El Salvador became the first country to allow customers to use cryptocurrency in all transactions, alongside the US dollar, in September of 2021, making Bitcoin legal tender.
Afterward, Zimbabwe announced that they would follow El Salvador’s plans.
This means that cryptocurrencies are approaching global adoption, and alongside Bitcoin, there are other cryptocurrencies that can reach this level of mainstream adoption, including Ethereum (ETH/USD) and Cardano (ADA/USD).
Should you buy Bitcoin (BTC)?
On December 19, 2022, Bitcoin (BTC) had a value of $16,750.
The all-time high for Bitcoin (BTC) was on November 10, 2021, at a value of $69,044.77.
In terms of the 7-day performance, Bitcoin (BTC) saw its low point at $16,650.25, while its high point was at $18,320.82. Here we can see a difference of $1,670.57 or by 10%.
When we go over the low point in the past 24 hours, however, Bitcoin (BTC) had a value of $16,623.73, while the high end was at a value of $16,824.07. Here we can see a $200.34 difference, or by 1%.
With this in mind, investors will want to buy BTC as it can climb to $17,200 by the end of December 2022.
Should you buy Ethereum (ETH)?
On December 19, 2022, Ethereum (ETH) had a value of $1,184.60.
Ethereum (ETH) saw its all-time high on November 10, 2021, at a value of $4,878.26.
In terms of the 7-day performance, Ethereum (ETH) had its low point at $1,168.39, while its high point was at $1,343.42. Here we can see a difference of $175.03 in value, or by 15%.
When we go over the 24-hour performance, its low point was at $1,175.15, while its high end was at $1,193.31. This marked an $18.16 difference, or by 1%.
Investors will be interested in buying ETH as it can climb to $1,300 by the end of December 2022.
Should you buy Cardano (ADA)?
On December 19, 2022, Cardano (ADA) had a value of $0.2634.
Cardano (ADA)’s all-time high was on September 2, 2021, at $3.09.
In terms of the 7-day performance, Cardano (ADA) saw its low point at $0.260594, while its high point was at $0.316328. Here we can see a $0.055734 difference, or by 21%.
When we look at the 24-hour performance, the low point was at $0.263672, while the high point was at $0.269534. Here we can see another difference of $0.005862, or by 2%.
Cardano (ADA) can climb to $0.31 by the end of December 2022, which means that investors will see interest in buying ADA.
Source: https://invezz.com/news/2022/12/19/top-cryptocurrencies-that-have-mainstream-adoption-potential/