News of Iran’s government legalizing cryptocurrency mining has caused an impromptu Bitcoin bull market. Iranians have clamored to trade fiat for cryptocurrency, pushing the price of Bitcoin to over $26,000 on a local exchange overnight. Thanks to Iran buddying up to the cryptocurrency mining industry, local sentiment has turned positive. Bitcoin traded for nearly four-times the worldwide market average, as spotted by Bitcoin News. It really is a cryptocurrency wet-dream: a whisper in the wind (albeit from a world government) causes an explosion in Bitcoin value. There are other factors at play, though. Iran’s currency has been rapidly declining in value,…

This story continues at The Next Web

Or just read more coverage about: Bitcoin