Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Friday, 23 August 01:35 (GMT -05:00)



Foreign exchange market

Experts Say, Iran’s Cryptocurrency Ban Won’t Affect BTC Rate


The central bank of Iran has banned cryptocurrencies. This decision was made on April 22nd. Apart from banning any cryptocurrency transactions in Iran, they also decided to ban any ads related to cryptocurrencies or blockchain. The reason is simple: cryptocurrencies may be used for money laundering, or sponsoring terrorism, or any other illegal activities. This is explained in the central bank’s official press release.
 
What does Iran demand from cryptocurrencies?
 
Back in February 2018, the central bank claimed that they had never made any cryptocurrency transactions and had never recognized such digital currencies. They think that these assets are unreliable and unstable, with extreme volatility and the principles used in network marketing and financial pyramids. On top of that, the central bank warned the citizens that investing in cryptocurrencies is rather risky and may lead to major financial losses.
 
At this point, it’s unclear how this cryptocurrency ban is going to influence Teheran’s plans to create a national digital currency, which was announced in February 2018. Back then, the Iranian government was excited about Venezuela ’s national digital currency – El Petro – which was designed to avoid the USA’s sanctions and restore the national economy.
 
Experts on Iran’s Cryptocurrency Ban
 
The World Bit Bank’s press office reports that such activities definitely have a meaning and a purpose. No totalitarian regime can exist without controlling each and every aspect of the society’s life. Since Iran cannot gain control over Bitcoin or altcoins, the only viable option for them is to ban cryptocurrencies.
 
Luckily, Iran is not a major player in the cryptocurrency market, which is why this ban is not going to affect the global market by any means. Iran is an outcast when it comes to trading or investing in international financial markets, the experts for The World Bit Bank (the creator of Wibcoin) claim.
 
Masterforex-V Academy experts share this opinion. They also think the ban is not going to affect the global cryptocurrency market in a serious way, or pretty much any way whatsoever since Iran’s role in the market is close to zero.
 
At the same time, it’s clear that the national cryptocurrency announced by Iran, as well as the one issued by Venezuela , is a pseudo-cryptocurrency since it’s will be controlled by the government, which contradicts the very idea of a decentralized blockchain-based cryptocurrency.
 
At the same time, Iran may well lie about not using cryptocurrencies since Bitcoin and other altcoins have become favorite assets for dictators and totalitarian regimes all over the world since they rely on the anonymity of those coins and use them to withdraw their toxic assets and dirty money abroad.

 

At the same time, NordFX reports that Bitcoin has been trying to conquer the psychological level of 10000 USD/BTC. In 24 hours, the exchange rate has gained some 5% and is now somewhere around 9350 USD/BTC.

2a9b9aeca2c4.jpg

 

Masterforex-V Academy predicts that if the BTC exchange rate consolidates above 9263 USD/BTC, which is a major cluster of trading orders, the next targets will be 9616 USD/BTC and 10000 USD/BTC. On the other hand, a new bearish cycle may start upon breaking below 8922 USD/BTC.

 

 

You are free to discuss this article here:   forum for traders and investors

 

Add to blog
Got a question? – Ask it here »
 

Forex and Cryptocurrency Market Review by NordFX

At the beginning of the current trading week, NordFX experts came up with another set of market predictions based on a number of expert opinions backed by trending indicators and oscillators. This is what they came up with:

Publication date: 19 August 01:09 PM

Forex and Cryptocurrency Forecast by NordFX. Mid-August 2019

Roman Boutko, an analyst for NordFX, has come up with another consensus forecast for the forex and cryptocurrency markets for the forthcoming trading week starting on August 12, 2019.
Publication date: 11 August 11:42 AM

British Pound And Brexit. What's Next?

The Brexit is going to come to the UK as the result of the 2016 referendum in the UK. 52% of the votes were cast in favor of the Brexit scenario back then. Chances are, the Brexit is going to affect the entire economic and financial system of the United Kingdom, including its national currency - the British Pound.
Publication date: 09 August 09:21 AM

Over 85% Of Bitcoins (BTC) Have Already Been Mined

Publication date: 05 August 03:28 AM

Coinbase Registers a Big Inflow of New Clients

An international cryptocurrency exchange named Coinbase is reported to have registered 5 million users of the last 12 months. This is what the latest report says. In particular, the amount of Coinbase users increased from 25 million users all the way up to 30 million users over the reporting period.

Publication date: 01 August 09:18 AM

Bitcoin Is Likely To Drop, Experts Say

At this point, the market cap of the entire cryptocurrency market is around 263 billion dollars, with over 64% being Bitcoin's share. Ethereum would have to gain more than 700% to break even with the king of cryptocurrencies. At this point, such a scenario looks unreal.

Publication date: 30 July 10:05 AM

Dollar Rate Is Close To 2-Month Highs

The U.S. Dollar is trading around Friday's high while the basket of 6 major currencies is on its way to the second profitable week, waiting for another GDP report from the USA. The dollar rate support a wider spread between the German and American bonds yields.

Publication date: 28 July 08:28 AM

1 Million Dollars For Bitcoin - John McAfee Confirms The Forecast

If someone has been enjoying the BTC rally going on sine early April, today you are probably not that exited about the market conditions since the bears seem to be getting stronger. The BTC exchange rate has dropped and is not trading around $10000 per coin, Market Leader reports.

Publication date: 19 July 04:07 AM

NYSE Launches Slack Technologies' IPO

Publication date: 22 June 05:58 AM

Masterforex-V Names 135 Most Popular Forex Brokers 2019

When trying to increase the amount of new clients, many brokers start massive ad campaigns online. Most of the time, you can see or hear those brokers call themselves the leading players in the industry, the best of the best, which is obviously not true because all of them cannot be as good as they claim to be. This actually makes it really difficult for the common trader or investor to make up their mind when choosing the next broker to go with.

Publication date: 12 June 08:22 PM