October 20 BTCUSD BingX Chart Analysis and Today's Headline

BingX’s Bitcoin Chart


The annual inflation rate in the Eurozone rose to 10.9 per cent in September, a jump from 10.1 per cent in the previous month. Meanwhile, UK inflation hit 10.1 per cent in September, a 40-year high. Bitcoin is down 1.23% over the last 24 hours and fell to an intraday low of $18,900. The largest cryptocurrency continues to trade sideways between the $18,000 and $20,000 price zone for the past week, suggesting no big movements in either direction have taken place. The gradually downsloping 20-day exponential moving average ($1,320) and the relative strength index in the negative territory indicate that bears are at a marginal advantage. For now, the sideway trading activities are likely to continue as there is not much volatility in the market.

Today’s Cryptocurrency Headline

Rio de Janeiro to Allow Digital Asset Tax Payments

Rio de Janeiro will allow its residents to pay property taxes in digital assets starting in 2023, a decree published this week has revealed. The city’s mayor, Eduardo Pae, has now published a decree calling for applications from virtual asset service providers who wish to process digital asset payments starting in 2023. While the residents will use digital assets for payments, the city government will only charge fiat currencies, and converting digital assets will not incur any additional cost to the taxpayers.

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