Bitcoin value nears $13.5K as CEO eyes new all-time highs in three months

Bitcoin (BTC) hit new highs of $13,480 on Oct. 27 as contemporary information {that a} financial institution was coming into the cryptocurrency house fuelled already bullish markets.

Cryptocurrency market every day overview from Coin360

Financial institution information drives BTC value to $13,480

Information from Cointelegraph Markets, Coin360 and TradingView confirmed BTC/USD climbing as soon as once more throughout Tuesday trading, including 2% in simply over an hour.

The transfer adopted an as but unconfirmed news that Singapore financial institution DBS had determined to construct a cryptocurrency trade and provide crypto custody providers, totally regulated by town state’s de facto central financial institution, the Financial Authority of Singapore (MAS).

The transfer initially got here to mild through a cached website page which subsequently disappeared from public entry. DBS had but to verify as of press time.

Regardless of this, Bitcoin instantly reacted, climbing out of its vary within the decrease $13,000 space and rebuffing concerns {that a} correction was imminent.

BTC/USD 1-day chart. Supply: TradingView

Pal: New all-time highs in three months “on the newest”

For Raoul Pal, CEO of Actual Imaginative and prescient, the bullish environment had been bolstered, and additional features had been extra possible than ever.

“There are actually solely two resistances left on the #bitcoin chart – 14,000 after which the outdated all-time excessive at 20,000,” he tweeted.

“I totally count on new all-time highs by early subsequent 12 months on the newest.”

That will take Bitcoin up by one other 50% in round three months — the biggest cryptocurrency has already delivered year-to-date features of over 85%.