Bitcoin Circular Economy Takes Root in Africa's Largest Informal Settlement

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Mar 01 2025

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Afribit Initiative in Kibera: Afribit, a Bitcoin-based economic system in Kibera, Kenya, aims to address financial exclusion by providing education and alternative pathways for residents to engage in commerce without traditional banking requirements. The initiative has onboarded over 40 merchants and offers various educational programs, despite facing challenges like skepticism towards Bitcoin and liquidity issues.
Broader Institutional Interest in Bitcoin: Alongside grassroots efforts like Afribit, institutional interest in Bitcoin is growing across Africa, exemplified by South African investment firm Altvest Capital's Bitcoin-only strategy and Bitdeer Technologies' acquisition of Bitcoin during market volatility, indicating a broader confidence in Bitcoin's potential as a financial tool.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	41969.199	50984.6	61393.199	70408.6	80817.199	89832.6	100241.199
Fibonacci	50984.6	58404.568	62988.632	70408.6	77828.568	82412.632	89832.6

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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