Iranian “kryptonite” pushed bitcoin to $26,000
News from the government of Iran seeking to legalize mining, caused by natural or bullish bitcoin in this country. Overnight, the Iranian “kryptonite” at a local stock exchange pushed the price of bitcoin relative to currencies Vietnam to more than $26 000.
Due to the fact that Iran is now “made friends” with the cryptocurrency industry, the mood of the local traders was a positive. As reported in a Bitcoin News, digital currency the main traded in Iran is almost four times higher than the world average.
It really reminds cryptomate: price skyrocketed like magic. However, it’s not magic, just the Iranian national currency depreciates rapidly, and economists and the public is worried, fearing that the country will repeat the scenario of Venezuela, with its hyperinflation.
In the difficult economic situation and in favor of the state to the miners of the bitcoin becomes more stable and much more valuable than the Iranian Rial.
During the preparation of this post on the Iranian EXIR exchange, the bitcoin was trading above $20 000 (the amount on the chart provided in the Iranian Toman is equivalent to 10 rials).
Earlier at the same venue, the bitcoin exchanged for the price of 109 200,000 tomans, or 1 092 000 000 rials, which was equivalent to about $26 000.
Prices can vary greatly between exchanges, however, it is noteworthy that this increase occurred simultaneously with the sudden downturn, when the market could face a “dump” by the whales.
Recall that Iran is considering the creation of own national cryptocurrency, as in Venezuela.