Bitcoin Price Outlook: Venezuela will accept Bitcoin payments for passport procedures, will it boost BTC/USD?
|- BTC/USD has slipped below $9,300 after losing daily EMAs.
- The daily uptrend is intact but in danger.
- Venezuela seems to be accepting Bitcoin as a payment option for passport procedures.
Bitcoin is currently trading at $9,300 after a peak of $9,670. Bulls couldn’t defend the daily 12-EMA at $9,463 or the 26-EMA at $9,444. The next support level is established at $9,170 as the last higher low of the current uptrend.
Rumors about Venezuela accepting Bitcoin payments for passport procedures could help Bitcoin
Although not officially confirmed, the government of Venezuela seems to be accepting Bitcoin for foreign passport procedures. A Reddit post made hours ago stated that Venezuela is supporting Bitcoin. In the post, we can see the Venezuelan SAIME showing a BTC payment option.
A lot of people thought it was fake but we now have other posts and pictures from other people showing the same thing.
Lo acabo de verificar personalmente y es totalmente cierto. #Venezuela, el servicio de extranjería, esta aceptando #Bitcoin para los pagos. Renovar pasaporte o la solicitud de una prórroga. $BTC pic.twitter.com/bMpVM4NQcA
— Lovera ⚡₿ (@BTClovera) June 24, 2020
Lo acabo de verificar personalmente y es totalmente cierto. #Venezuela, el servicio de extranjería, esta aceptando #Bitcoin para los pagos. Renovar pasaporte o la solicitud de una prórroga. $BTC pic.twitter.com/bMpVM4NQcA
— Lovera ⚡₿ (@BTClovera) June 24, 2020
According to the official SAIME website, users only have 8 minutes to complete the Bitcoin transaction. It also seems that the rate employed by SAIME is cheaper compared to the actual price of Bitcoin.
BTC/USD daily chart
-637286070449388025.png){kind=link}
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.