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Today’s Cryptocurrency Headline
The Bank of Spain issued instructions on how to register in order to offer crypto-related services in the country. The country is open to registration applications for all cryptographic service providers. All regulated entities are required to register, including regulated banks. The Bank of Spain will then take up to three months to consider its application. Spanish banks had been preparing to offer crypto services to their customers but lacked clear instructions from the Bank of Spain. BBVA, a Spanish bank, already offers crypto asset trading services in Switzerland and currently provides the custody and sale of Bitcoins.
Bingbon’s Bitcoin Chart
Source: TradingView& Bingbon
Bitcoin fell all the way to near $60,000 yesterday and remains there. The daily chart shows support below around $56,000. If Bitcoin price does not return to the $67,000 level anytime soon, it will most likely continue to move back into the $50,000 – $60,000 range. This could be a long-term correction.