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Market analysis

New Iranian bill to support Bitcoin mining and ban crypto payments

Related product: Forex

Market analysis: New Iranian bill to support Bitcoin mining and ban crypto payments. The parliament of Iran proposed new legislation to centralize and regulate cryptocurrency use, licenses to be issued to Bitcoin mining farms. Iran plans to issue a national cryptocurrency for domestic transaction settlement and impose a ban on the use of cryptocurrencies mined outside Iran. Licensing of Bitcoin mining operations may tackle the persistent blackouts that result from illegal mining operations consuming excess electricity. After a crackdown on Bitcoin miners, the government of Iran is now taking steps to license these operations. The blanket ban on cryptocurrency mining may be lifted soon. Central Bank of Iran attempts to counter capital flight Iran’s economy is in a crisis following the collapse of oil exports, systemic corruption, and mismanagement spanning decades. The economic turmoil has impacted the national currency, the Rial, which has severely depreciated against the dollar ever since the former U.S. President Donald Trump withdrew from the nuclear deal in 2018. Since then, the Central Bank of Iran (CBI) has been strapped for foreign currencies and attempted to counter capital flight by implementing a blanket ban on the use of cryptocurrency mined outside Iran. The ban served as an opportunity for Iran to expand power plant infrastructure and run repairs on existing power grids to try to lessen the impact of the crypto-rush. Several unlicensed mining firms have been operating around the nation since the cost of electricity is about $0.003/kWH, roughly forty times cheaper than the world’s average of $0.14/kWh.

2021-07-07 17:43 Philippines

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Market analysis

XLM Price Prediction: Stellar could rally 10% if it can breach this critical level

Related product: Forex

Market analysis: XLM Price Prediction: Stellar could rally 10% if it can breach this critical level XLM price performance shows a lack of buyers, which has kept it from reclaiming its range low at $0.274. A decisive 4-hour candlestick close above $0.274 will signal the start of an uptrend. If Stellar sets up a lower low at $0.228, a bearish scenario might come into play. XLM price has been on a downtrend since May 23. Any attempts to move above the midpoint of the range have been unsuccessful. Moreover, the recent crash between June 20 and 23 pushed it below the lower end of its trading range, painting a bearish picture. After a minor upswing, Stellar is now taking a jab at an uptrend if it can reclaim a crucial resistance level.XLM price struggles to climb XLM price has been on a continuous downtrend since June 3. In fact, Stellar has not produced any higher highs since May 16, which paints a rough idea of how investors view Stellar from an investment standpoint. Regardless of the lack of optimism around XLM price, a decisive 4-hour candlestick close above the range low at $0.274 will signal a resurgence of bullish momentum. In such a case, Stellar bulls might push the remittance token toward the immediate resistance level at $0.286. Following a breach of his supply level, if the buying pressure persists, XLM price might tag $0.303, a swing high set up on June 21. Such a development would allow XLM price to take a jab at breaking the downtrend and kick-start an uptrend. If the buyers manage to set up a swing high above $0.303, it will attract some sidelined investors to jump on the bandwagon, invoking large bid orders. Such a turn of events might hold the key to push the remittance token to $0.352, roughly 28% from the range low.

2021-06-28 15:02 Philippines

1

Reply

MarketNew Iranian bill to support Bitcoin mining and ban crypto payments

Related product: Forex

Market analysis: New Iranian bill to support Bitcoin mining and ban crypto payments. The parliament of Iran proposed new legislation to centralize and regulate cryptocurrency use, licenses to be issued to Bitcoin mining farms. Iran plans to issue a national cryptocurrency for domestic transaction settlement and impose a ban on the use of cryptocurrencies mined outside Iran. Licensing of Bitcoin mining operations may tackle the persistent blackouts that result from illegal mining operations consuming excess electricity. After a crackdown on Bitcoin miners, the government of Iran is now taking steps to license these operations. The blanket ban on cryptocurrency mining may be lifted soon. Central Bank of Iran attempts to counter capital flight Iran’s economy is in a crisis following the collapse of oil exports, systemic corruption, and mismanagement spanning decades. The economic turmoil has impacted the national currency, the Rial, which has severely depreciated against the dollar ever since the former U.S. President Donald Trump withdrew from the nuclear deal in 2018. Since then, the Central Bank of Iran (CBI) has been strapped for foreign currencies and attempted to counter capital flight by implementing a blanket ban on the use of cryptocurrency mined outside Iran. The ban served as an opportunity for Iran to expand power plant infrastructure and run repairs on existing power grids to try to lessen the impact of the crypto-rush. Several unlicensed mining firms have been operating around the nation since the cost of electricity is about $0.003/kWH, roughly forty times cheaper than the world’s average of $0.14/kWh.

Rey

2021-07-07 17:43

MarketXLM Price Prediction: Stellar could rally 10% if it can breach this critical level

Related product: Forex

Market analysis: XLM Price Prediction: Stellar could rally 10% if it can breach this critical level XLM price performance shows a lack of buyers, which has kept it from reclaiming its range low at $0.274. A decisive 4-hour candlestick close above $0.274 will signal the start of an uptrend. If Stellar sets up a lower low at $0.228, a bearish scenario might come into play. XLM price has been on a downtrend since May 23. Any attempts to move above the midpoint of the range have been unsuccessful. Moreover, the recent crash between June 20 and 23 pushed it below the lower end of its trading range, painting a bearish picture. After a minor upswing, Stellar is now taking a jab at an uptrend if it can reclaim a crucial resistance level.XLM price struggles to climb XLM price has been on a continuous downtrend since June 3. In fact, Stellar has not produced any higher highs since May 16, which paints a rough idea of how investors view Stellar from an investment standpoint. Regardless of the lack of optimism around XLM price, a decisive 4-hour candlestick close above the range low at $0.274 will signal a resurgence of bullish momentum. In such a case, Stellar bulls might push the remittance token toward the immediate resistance level at $0.286. Following a breach of his supply level, if the buying pressure persists, XLM price might tag $0.303, a swing high set up on June 21. Such a development would allow XLM price to take a jab at breaking the downtrend and kick-start an uptrend. If the buyers manage to set up a swing high above $0.303, it will attract some sidelined investors to jump on the bandwagon, invoking large bid orders. Such a turn of events might hold the key to push the remittance token to $0.352, roughly 28% from the range low.

Rey

2021-06-28 15:02

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