Bitcoin Mining Industry in the US Could Benefit from the Recent China Ban: Florida Mayor

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

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. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


The Mayor of Miami, Florida—Francis Suarez—believes that the crackdown on Bitcoin (BTC) and cryptocurrency by the Chinese government is a significant opportunity for the American market to take advantage of.

The mayor, who currently works on building his city into a Bitcoin hub, told Bloomberg that:

“The turning point is now. It creates an incredible opportunity for America.”

Mayor Suarez added that: “China banning bitcoin is a massive mistake with impacts that will be felt for generations. Their loss is our gain, and America can and will lead the future by providing a clean power home for bitcoin miners and all who are building on/with/for bitcoin.”

Some other US government officials also see the recent action by the Chinese government as an opportunity for the US. Senator Pat Toomey recently noted that: “China’s authoritarian crackdown on crypto, including bitcoin, is a big opportunity for the US. It’s also a reminder of our huge structural advantage over China.” Meanwhile, Congressman Patrick McHenry stated that: “China’s decision to restrict access presents a perfect opportunity for American leadership on cryptocurrency.”

The mayor announced earlier this week that there are ongoing talks to attract crypto miners to South Florida, including incentives like clean energy options.

Key Bitcoin Levels to Watch — September 30

BTC appears to have built a mild bullish momentum as the primary cryptocurrency reattempts the $44,000 line. BTC traded within a ‘flat wedge’ for the past seven days, highlighting the prevailing directionless bias.

BTCUSD – 4-Hour Chart

That said, the sideways bias could well become a bullish one if the flagship cryptocurrency re-emerges above the $44,000 level today amid the upcoming vote on the US Infrastructure Bill. We expect a bullish continuation in the coming hours towards the $46,000 area or our 200 SMA.

Meanwhile, our resistance levels are at $44,000, $44,400, and $45,000, and our key support levels are at $43,000, $42,000, and $41,000.

Total Market Capitalization: $1.91 trillion

Bitcoin Market Capitalization: $817 billion

Bitcoin Dominance: 42.7%

Market Rank: #1

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • 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
$50 Min Deposit
9
  • 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 *