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Friday, 20 July 04:48 (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.

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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.

 

 

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Bitcoin Gets Cheaper on News about Hacking Swiss Cryptocurrency Exchange Bancor

On July 11th, Bitcoin and other altcoins continued their downtrend started on Monday. International experts say that the biggest reason for that is the news on hacking a Swiss crypto exchange known as Bancor. In particular, they say, the hackers stole 23,5 million dollars in crypto coins.

Publication date: 12 July 11:32 AM

Bitcoin Rate Reaches 6700 USD/BTC

At the end of the trading week, the BTC exchange rate reached 6700 USD/BTC. The entire cryptocurrency market showed confident growth as well.

Publication date: 08 July 07:56 AM

This week Bitcoin may raise to 7000 USD/BTC

 This week, Bitcoin may grow in value all the way up to 7000 USD/BTC, some experts say. As you probably know, the past trading week wasn’t successful for the world’s first cryptocurrency, as well as for the rest of the crypto market. 

Publication date: 25 June 10:41 AM

UK to Start Litcoin Futures Trading

Starting from tomorrow, international investors will be limited only to buying Bitcoin futures. The thing is, on June 22nd, a UK-based crypto futures platform named Crypto Facilities launches Litecoin futures.
 
Publication date: 21 June 01:06 PM

Will Bitcoin Dive Below $6000?

Publication date: 19 June 12:42 PM

Today’s Bitcoin Rate Signals Growing Risks in Banking Sector

Yesterday, the BTC exchange rate suddenly started growing, probably as a part of a recovery move against the existing downtrend. According to CoinMarketCap, the current BTC exchange rate is somewhere above 7500 USD/BTC. Over the last 24 hours, the world’s first cryptocurrency has gained some 5%, trying to recover from May’s downtrend (in case you don’t know, the coin has lost 20% since early May before starting to recover yesterday).

Publication date: 31 May 08:33 AM

Bitcoin Goes Down Before Another Rally?

The BTC exchange rate keeps on going down while being driven by a number of factors and circumstances. International experts say that the price of the world’s first and most popular cryptocurrency is currently going down just to gain some momentum later and skyrocket to new highs.

Publication date: 29 May 11:19 AM

Masterforex-V Analysts name Successful ICOs in May 2018

For those of you who don’t know, an Initial Coin Offering (ICO) is all about raising funds. To be more specific, startups sell their underlying crypto tokens in exchange for existing crypto currencies, mostly Bitcoin, Ethereum and other altcoins out there. This resembles an IPO in the stock market where investors buy a newly offered stock.

Publication date: 23 May 12:14 PM

Bitcoin Will Hit $20K, CoinShares Says

Bitcoin is really capable of getting back to the all-time high at $20K per coin. This is what founder of Coinshares Danny Masters thinks on the matter. He is not a rookie in this business. His company has been creating investment products for the cryptocurrency market and conducting blockchain-related research for years. Mr. Masters believes in the future of Bitcoin and altcoins. However, he thinks the market is yet to pass a few development stages. 

Publication date: 20 May 08:38 AM

German Stock Exchange Börse Stuttgart Welcomes Cryptocurrencies

Soon enough, maybe this fall, German stock exchange Börse Stuttgart is going to start working with cryptocurrencies. For that purpose, the exchange is expected to use its branch. Trading cryptocurrencies will be implemented through the Bison app. The expected trading turnover is around 100 billion dollars.

Publication date: 17 May 12:00 PM