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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 Price Outlook: Venezuela will accept Bitcoin payments for passport procedures, will it boost BTC/USD?
Lorenzo StroeLorenzo StroeIndependent Analyst

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. 

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

BTCUSD
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Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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