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The price of Bitcoin (BTC) reached new highs of $ 13,480 on October 27 as news of it a bank was entering the cryptocurrency space by supporting already bullish markets.
Coin360 cryptocurrency market daily overview
Banking news pushes BTC price to $ 13,480
Data from Cointelegraph Markets, Coin360 and TradingView have proven this The BTC / USD pair rose once again during trading on Tuesday, adding 2% in just over an hour.
The move followed unconfirmed news that Singapore bank DBS decided to build a cryptocurrency exchange and offer cryptocurrency custody services, fully regulated by the city-state’s de facto central bank, the Monetary Authority of Singapore (MAS).
The measure originally came to light through a cached website which subsequently disappeared from public access. DBS had yet to confirm at press time.
Despite this, Bitcoin reacted immediately, breaking the range into the $ 13,000 lower area and dismissing concerns that a correction is imminent.
1-day BTC / USD chart. Source: TradingView
Pal: new historical peaks in 3 months “at the latest”
For Raoul Pal, CEO of Real Vision, the bullish mood had strengthened and future earnings were more likely than ever.
“Literally, only two resistances remain in the #bitcoin chart: 14,000 and then the old peak of 20,000“, tweeted.
“I expect new all-time highs by early next year.”
That would bring Bitcoin another 50% in about three months – the largest cryptocurrency has already generated annual earnings to date of over 85%.
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