Bitcoin (BTC) remains strong as it continues to defy its resistance levels. The price structure in the daily shows a tight consolidation/triangle. Zooming in the 4H Chart, structure is clear and showing an ascending triangle pattern. This may be due to traders accumulating between the immediate levels 14,800 - 15,900 in an anticipation of a breakout above 16,000. Currently, price just breached the 16,000 mark and a sustained break above this level could lead BTC to a new leg toward 17,000 - 18,000. Otherwise, failure to sustain could lead price back to immediate support around 14,300.
Global market cap is at $456B, while BTC's market cap is at $295B.
Bit Digital, a Nasdaq-listed Bitcoin (BTC) mining company, has announced it will issue $13.9 million shares in exchange for mining hardware. According to the firm's announcement, the issuance will be in the form of asset-purchase agreements with non-US investors with 4,344,711 shares valued at $3.20 per share in exchange for BTC miners with combined hash power of 1,000 petahashes per second (PH/s), or 1 exahash (EH/s). The initiative is expected to have a projection of more than 2.3 exahashes per second (EH/s) which would help Bit Digital to rank alongside the top minings firms in North America by hash rate.
China Construction Bank, one of the "Big Four" banks in China, has partnered with a Labuan-based fintech firm to issue a blockchain-based digital security. According to the plan, the digital debt issuance is looking to raise up to $3 billion. The details of the digital bonds will include: minimum of $100 each, 3 months tenor, and annualize interest of 0.75%.
In addition, the tokenized certificates will be tradable starting Nov. 13 on the Fusan exchange which supports cryptocurrency trading. Traders will be able to exchange their bitcoins (BTC) for USD to buy the bonds. However, Steven Wong COO of CCB Malaysia emphasized that they are not dealing in bitcoin or cryptocurrencies, but rather taking bank deposits.
The Enforcement Division of the US Securities and Exchange Commission (SEC) has seized more than $4.68 billion in illegal income and fines this year so far, with around $1.26 billion coming from unregistered initial coin offerings (ICOs). Telegram alone agreed to returned $1.2 billion to investors and pay an $18.5 million fine for its ICO of Gram tokens. The SEC also filed a complaint against Kik for its unregistered securities sale, and Kik will pay $5 million to the SEC. The other cases against Bitclave, Shopin, NAC Foundation, Unikrn, Boon Tech, and Bitcoiin2Gen were responsible for roughly $40 million in seizures.
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