Venezuelan Authorities Close Cryptocurrency Exchanges and Mining Farms

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Today’s Cryptocurrency Headline

Since the arrest of Joselit Ramirez, the head of Venezuela’s crypto assets, and President Maduro’s order to reorganize the country’s crypto regulators, the country’s crypto ecosystem has been continuously hit hard. with Venezuela’s national crypto asset regulator “Sunacrip.” While the move has yet to be officially confirmed, the Venezuela National Cryptocurrency Association (Asonacrip) said the move is in the works because of an ongoing anti-corruption investigation in Venezuela. Prior to this Sunacrip also announced that it ordered the closure of large cryptocurrency mining farms operating in several Venezuelan states.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin is up 0.85 % over the last 24 hours and rose to an intraday high of $28186.40. The largest cryptocurrency has been trading around the $28,000 price level during the weekend, suggesting the investors are holding their position despite the concerns ank over Deutsche 20-day exponential moving average ($25,941) and the relative strength index (RSI) in the positive area suggest the bulls remain in control. If the price manages to sustain above the $28,000 mark, the BTC/USDT pair could rise to $30,000.

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