Bitcoin Miners Encounter More Challenges From Authorities

Azeez Mustapha

Updated:

UNLOCK DAILY FOREX SIGNALS

Select a Plan

£40

 1-month subscription

Select

£30

 3-month subscription

Select

£21.5

 6-month subscription

Select

£399

 lifetime subscription

Select

£50

 Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


Due to the criticism, Bitcoin miners have to deal with, particularly from the Chinese government, the majority of miners are starting to turn their attention to Texas. This has resulted in a marked increase in mining activity in Texas. Recently, Reuters confirmed that in 2022, the amount of energy used by mining operations in Texas increased by more than 75% compared to the prior year. Notably, Texas used to be one of the states that provided tax benefits to miners.

However, things are about to turn around as the mining industry faces a proposal to levy a 30% excise tax on the cost of powering crypto-mining facilities. The rise in these difficulties has thus led to longer bitcoin transaction times and higher transaction costs. Moreover, environmentalists have been criticizing bitcoin miners as a significant source of greenhouse gas emissions. Investors in BTC may start looking for alternatives as these problems get worse, which would have a long-term detrimental impact on the growth of bitcoin.

Key Bitcoin Levels To Watch – March 26

Bitcoin Miners Encounter More Challenges From AuthoritiesThe last phase of the bullish trend began after price grabbed buy orders at the liquidity void below the $21478.0 resistance. According to the MA Cross, the market flipped bullish as it rallied away from the demand zone.

As BTCUSD rallied away from the demand zone, it continued alongside a diagonal resistance. A bearish order block is in the oversold region according to the RSI indicator. The buying pressure from the bearish order block and the diagonal resistance might eventually cause a massive crash to the downside.

Bitcoin Key Levels

Resistance Levels: $32384.0, $34322.0, $37401.
Support Levels: $25215.0, $21478.0, $18385.0

Total Market Capitalization: $1.17T
Bitcoin Market Capitalization: $539.36B
Bitcoin Volume: $13.65B
Market Rank: #1

You can purchase Lucky Block here.  Buy LBLOCK

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *