By: Stephanie Brown
Bitcoin is being very well received in Netherlands, with its user base growing substantially. It has been reported that the country is considering not imposing a Value-added tax on the sale or purchase of Bitcoins. Many retailers in the Netherlands are now accepting Bitcoin as a form of payment for goods and services. Although it is currently not the law, the very thought is certainly beneficial, and if implemented it will attract potential users.
Twitter Co-founder Jack Dorsey, who founded the famous payment app Square is now talking about taking Square to the next level and helping it become more than just what it is at the current moment; a payment app. Dorsey believes that Square can easily replace cash registers and can become a point-of-sale application, which can help many small businesses and entrepreneurs in the long-term.
Square could additionally be equipped with possessing the capabilities to receive digital currency payments such as Bitcoin, which of course would be positive development. Dorsey firmly believes that enabling Square to accept Bitcoin transactions can certainly enable small businesses to reach a global client base. Industry experts believe that with Square, a whole host of small businesses will additionally adapt Bitcoin.
Technical Analysis
After being caught in a downwards trend for nearly seven trading sessions, the BTC/USD experienced some buying in today’s early trading session. Currently it is trading at $369.18 and is finding strong support near $345 and $340.93. However, it is expected to face considerable resistance on the upside near $376 and $384.
Actionable Insight:
Buy the BTC/USD above $371 for target of $375 to $378, with a stop-loss of $368.
