The Chilean Crypto stock exchange Crypto MKT recently announced that its citizens can now buy products and services for cryptocurrencies from more than 5,000 traders thanks to the new integration with the cryptographic payment processor.
According to the announcement, the partnership between Crypto MKT and Flow.cl online payment platform has enabled sellers to add cryptocurrency payment options via a platform called CryptoCompra.com.
The CryptoCompra platform is available in Chile, Argentina, Brazil and Europe and allows customers to pay companies using cryptocurrencies while allowing merchants to receive payments in pesos, national fiat money. In addition, there is a fund at Crypto MKT that guarantees that payments made in cryptography are not affected by significant fluctuations in prices. The announcement reads: "There is a guarantee fund that allows payments to not depend on large increases or decreases in Bitcoin, Ethereum, and Stellar prices. It gives peace and security to the customer because he will not have surprises in payments."
He further states that accepting cryptocurrencies allows companies to accept payments from around the world and gives them a chance to be recognized as an avant-garde company that can enjoy quick and secure payments.
Development is noticeable because Chile is a country where the cryptocurrency, Orionx, Buda and Crypto MKT markets have abolished what was considered a total ban for the crypto industry when local banks closed their clients.
The president of the Central Bank in Chile, Mario Marcel, earlier this year revealed that he was considering implementing cryptocurrency laws that would provide financial institutions with the information necessary to "monitor the associated risks".
Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market remains locked in a horizontal consolidation area between the levels of $6,600 - $5,951. Moreover, there is now a weekly pivot just in the middle of this zone at the level of $6,424, so traders might conclude the current trading conditions are neutral. In a case of a breakout to the upside, the next resistance is seen at the level of $6,782 and in a case of a downside breakout the next technical support is seen at the level of $5,728 and it is very important.
