Bahrain Crypto regulations & EU Parliament voted against high power-consuming Cryptos ban
Article # 117
Dated: 16th March 2022
Apologies for not being able to publish an article from the last six days. Last Thursday and Monday went in procrastination while I was busy at a cousin's wedding on Saturday. So I had to leave the office on Friday that's why I didn't have time to write one. I didn't publish one last night because I have decided to wake up early and write an article early morning. I will try to make this routine permanent because writing an article in the early morning is the best choice. Because there is no one to disturb me and I can write in a noise-free environment.
Bahrain has issued crypto license to Binance
I saw this tweet from Binance CEO, Changpeng Zhao (I have shared the tweet). So Bahrain is the first country in the middle east that took the initiative to issues a crypto-asset provider license to Binance. It is a better step taken for the crypto betterment and now we can see an increase in crypto market capitalization because Bahrain is a rich country with oil and gas reserves.
So we can definitely notice some bullish movement in the crypto market in near future. In fact, a slow bullish movement has already started though I am not sure if Bahrain regulating the crypto is the reason for that. I hope it will also make other middle eastern countries realize that they should also go for regulation of crypto and it will bring a big positive change in the crypto because some middle eastern countries are highly rich countries.
European Parliament voted against the high power consuming cryptos ban proposal
So a proposal has presented in European Parliament on 14th march about baning the high energy-consuming cryptocurrencies. Because they believe these cryptos are not climate healthy as it consumes a lot of power. As we can see mining in bitcoin and Ethereum so the proposal was to ban all these cryptocurrencies.
So, fortunately, they voted in the parliament and most of the votes go against the proposal which is very good news for the crypto market. Also, this proposal spread FOMO in the market and we could see instability in the crypto market from the last few days but now after this news, we might see a bull run.
The bull run in the crypto
I have checked the market right now and saw a big bull run in the market. When I woke up I saw BCH at $291 and now I can see it crossing $300. It is a big sign for another big bull run (I am not an expert though 🤣). Even though I have already sold my 0.59 BCH at $287 but I am not worried about it as I have already set another 0.54 BCH at $310. So I will try to take benefit from the market as much as possible in sha Allah.
