Could Bitcoin Moon to $20,000 with the Support of Iran's New Mining Plan?

Bitcoin is making another move in the world, and this time its destination is Iran, an oil-rich country suffering from the sanctions of the Trump government. After India lifted the ban on cryptocurrency transactions,  Iran’s president called for launching a cryptocurrency mining strategy. With the prospect of an economic recession looming over the world, the growing popularity of bitcoin is indeed good news.

In the past two years, Iran has taken some huge steps in regulating cryptocurrencies and adopting bitcoin into its monetary system. At an official level, Iranian general Saeed Muhammad has suggested using cryptocurrencies to bypass US sanctions; Iran's central bank has also been cooperating with local blockchain solutions provider Areatak to develop a national blockchain project called Borna.

By January 2020, Iran had issued 1,000 cryptocurrency mining licenses. According to Amir Hossein Saeedi Nai, a member of the Information and Communications Technology (ICT) Guild Organization’s blockchain commission, a fully functioning mining industry could bring $8.5 billion into the local economy.

Given Iran’s positive attitude towards bitcoin, Bexplus’s marketing director Knash Nikolsson remarked that “ Bitcoin is borderless and immune to inflation. Iran's adoption of bitcoin will be a significant step in combating hyperinflation as well as promoting bitcoin … Bexplus hopes to support Iranian traders during the pandemic. We welcome Iranian traders with open arms and will provide every user with the most attentive service.”

It is reported that the hourly kilowatt rates for mining firms in Iran could be as low as $0.01 to $0.05. Now, Iranian miners are contributing 4% of the total hash rate in the world.

“Mining, holding and trading of cryptocurrencies, especially BTC and ETH, is widely adopted in Iran. I'm sure in next months we will see more investment by the public, especially the middle class, in cryptocurrencies like BTC.” Said Babak Behboudi, the CEO of blockchain innovation firm Synchronium.

Bitcoin is gaining unprecedented popularity in Iran, and maybe it could replace fiat in some ways. We can expect more capital flowing from Iran to the crypto market in the foreseeable future, thus driving up the price of Bitcoin.

Bexplus: a Go-to Leveraged Trading Platform for Both Beginners and Veterans Now Open to Iranians

Bexplus, a leading crypto derivatives platform, becomes the first to offer leveraged trading service to Iranian traders. With no KYC requirements, traders only need to verify their emails. Bexplus offers services worldwide, in countries such as the U.S., Japan, Iran, Singapore, and Sudan.

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  • Make more BTC with volatility

Volatility can be a good thing, perhaps the best thing about bitcoin for most futures traders. By speculating on market movements and using leverage, traders can make a handsome sum of money with small initial capital.

For instance, the 100x leveraged provided by Bexplus allows you to open a position worth 100 times more than your initial investment. The minimum trading volume for BTC/USD on Bexplus is 0.1 BTC, which means you only need to invest 0.001 BTC as margin. If you generate a 10% profit, you will earn 0.01 BTC, making your ROI 1000% with just 0.001 BTC investment.

  • Learn to Trade Without Taking Any Risk

To help beginners better get used to leveraged trading, Bexplus provides every user with a demo account upon registration. There are 10 replenishable BTC in the demo account for traders to practice as much as they like. You can also learn to analyze the market and use the tool-kit with the demo account.

  • Check the Market at Any Time and Anywhere You Want

Bexplus mobile app rank in the Top 5 of keyword search results related to bitcoin trading in 56 countries in App Annie. This full-featured app provides you with the same experience when using a computer, only far more convenient.

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You can check the market, enter or close a trade, or deposit your funds in the interest-bearing wallet wherever you like. Bexplus mobile app has a 24/7 market notification to keep you updated with any huge market movement. 

All data and assets can be accessed through all kinds of devices including Windows, Macbook, Android phones, iPhones, and tablets. Bexplus app is available on Apple App Store and Google Play.

  • Claim Your 100% Bonus

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Double deposits, double profits. Users can get a 100% deposit bonus for every deposit on Bexplus. If you deposit 1 BTC, 2 BTC will be credited to your account, and the profits gained with the bonus are withdrawable. Every user can join the promotion and get up to 10 BTC bonus. Now active users can get 10% off of their transaction fee. 

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