Bitcoin (BTC) just reached a new high for the year as price made its way at around 13,800, just a few points below the 14,000 key resistance level. In the daily, we can see that the overall trend is still intact with price currently experiencing a pullback - trading above 13,600. Immediate support was established around 12,700 with the 10 EMA trail support, while Key resistance sits around 14,000. It remains to be seen whether price can continue its move up and breach higher resistance levels as BTC continues to unravel its dominance in the market. Next potential targets are around 15,000+, while invalidation could trigger if price fails sustain to above 12,000.
Global market cap is $401B, while BTC's market cap is at $251B.
DBS, Singapore's largest retail and commercial bank, is rumored to be launching its own cryptocurrency trading and custody service, as well as a platform for conducting security token offerings. A description of the offering and its components appeared briefly on the DBS website before being removed minutes later. The DBS Digital Exchange will support five major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), and Ethereum Classic (ETC). The exchange will also support the US dollar, the Singapore dollar, the Hong Kong dollar, and the Japanese Yen.
DBS is regulated by the Monetary Authority of Singapore and will thus provide Anti-Money Laundering and Counter Terrorist Financing regulations, and will assure institutional-grade security. However, a spokesperson for DBS told news outlet CoinTelegraph that the platform is still under development and still has not received regulatory approvals.
Bitcoin ATMs are reportedly increasing in a country in Latin America. According to a Cointelegraph report, Colombia now has the largest number of Bitcoin in ATMs in the region. Data from CoinATMRadar shows that Bogota has 34 ATMs, followed by Medellin with 11, and Bucaramanga and Cali with 4 each. Latin American countries like Venezuela and Argentina were known as "crypto hotspots" as crypto usage increased in these regions due to political and economic issues. Colombia is looking to improve the regulatory framework of cryptocurrencies in the country as the Ministry of Information Technology and Communications, or MinTIC, released a draft of a guide in September, aimed at the adoption of blockchain technology and crypto payments in the public sector.
Bitcoin transaction fees have nearly tripled in the past three days, going from around $3.52 to $10.20 on average. Crypto market data aggregator Glassnode also reports that Bitcoin miners' share of fee revenues is the highest it has been since January 2018 - with 22.25% of miners' income coming from fees and 77.75% coming from block rewards.
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