Power

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China, a workshop for more than 65% of the world's bitcoin, has taken a tough stance against crypto mining and related transactions, including a total crackdown on bitcoin mining.

The condition of cryptocurrency miners in Iran is continuing to worsen as the government imposes a ban on the mining activity citing high energy consumption of the operation that have been causing power outages in the country. The poor Iranians who have been depending on crypto-mining will suffer more due to the government decision to prohibit mining during hot summer months.

For the past week, Cardano's (ADA) price has been stalled below the $1.400 overhead resistance. ADA price is now fluctuating below the overhead resistance to retest it.

Bitcoin is regarded as the leading cryptocurrency and is seen by many as the most profitable. Many companies have begun accumulating bitcoin, with Tesla recently purchasing vast amounts of bitcoins.

On April 1, Ripple bulls retested the $0.60 resistance and pulled back to the range-bound zone. XRP price has been confined in a tight range since March 26.

Today, there is a price spike as XRP rallied to $0.52 high after breaking the resistance line of the descending channel. Soon after reaching the recent high, the price plunged back to the channel.

There are many countries and people that are embracing blockchain technology or using Bitcoin and other forms of digital currencies. But there are also those who don’t want to hear anything concerning the cryptocurrency business in their countries. What is the reason for such hostility?

Ripple is making an upward move as price approaches the high of $0.31. Today, XRP is trading at $0.29 at the time of writing.