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Bitcoin {BTC} price prediction; Sygnum receives CMS license from the Monetary Authority of Singapore

Bitcoin


Sygnum has made its presence known in Switzerland [a European nation with a pro-blockchain outlook], as well as in Singapore. A Capital Market Services [CMS] license was granted by the Monetary Authority of Singapore [MAS]. FINMA had also recently endorsed the project too. Thus, asset management is a go!

Check out the official press release for a more insightful description of the various solutions that shall be offered by Sygnum. When referring to the newly acquired CMS license, the Head of Asset Management Stefan Mueller said, “…This is complementary to our banking services in Switzerland and will also benefit our Swiss institutional and private qualified investor clients”

The organization itself is the first bank associated exclusively with digital assets. Their diverse board of directors includes ex-regulators, individuals who were once part of financial conglomerates, and so on.

According to the candlestick chart connected to the BTC/USD pair on tradingview [based on data obtained from the Bitstamp Exchange], the most renowned digital currency is being impacted by sellers, but buyers have begun to capitalize and are looking to seize back control. The daily RSI [for 14 periods] sits at 56.02 momentarily and may progress downwards in the neutral zone.

Barriers may be felt when $BTC recovers and heads towards $10340, and support can be found close to the $7310.45 mark. The MACD line has ventured nearer to the signal line post-29th October, thereby causing the emerald histogram to adopt a faded appearance. The final peak tied to the Awesome Oscillator possess the brown shade, which indicates that bearish momentum has come into play.

Bitcoin is ranked at #1 above Ethereum in the market. The trading volume recorded stands at roughly $25.699 billion, whereas the supply has 18,022,087 BTC coins included for now. The total market cap of Bitcoin amounts to $164.963 billion as of this instant. The price declined slightly, at a rate of 0.85% in the course of the past 24-hours; this, in turn, brought $BTC all the way down to the $9153.43 mark where it presently rests.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.