Speaking to Congress on Tuesday, Jerome Powell, Federal Reserve Chairman, said the Fed was actively working to create a “digital dollar.”
According to him, the agency began to act actively immediately after Facebook’s announcement of the establishment of the stable coin last year.
“We’re working hard to develop this area; we are engaged in a large number of projects, putting a lot of effort,” Powell said. “Libra has become a starting point, a kind of the impetus for understanding the transience of changes and their systemic significance.”
One way or another, the Fed does not intend to take hasty measures. The main task is to assess their priorities on the path to launching a digital dollar.
“The final decision has not yet been made. We need to evaluate the advantages and disadvantages, said Powell. “The most important thing for us is the preservation of the American dollar as a world reserve currency.”
According to him, all major central banks are studying the likelihood of digitizing their national currencies. At the same time, he emphasized that there is no need to compare the situation in the USA with other countries.
Let us recall that in December, US Secretary of the Treasury, Steven Mnuchin, said that the United States did not intend to issue its digital currency soon.
Technical analysis of Bitcoin (BTC):
Over the past day, the price of bitcoin rose to the resistance level of $10,500 but failed to overcome it. As a result, there was a technical correction downwards. Now, the price of bitcoin is $10,130. In the future, we expect a decrease. The nearest resistance levels are $10,200, $10,500, $11,000, $11,500, $12,000. The nearest support levels are $10,070, $10,000, $9,700, $9,450, $9,200, $9,000, $8,720, $8,500, $8,380, $8,250.
Technical analysis of Ethereum (ETH):
Over the past day, the price of ethereum grew to the resistance level of $277, then it went down for a technical correction. Now, the price of ethereum is $262. In the future, we expect a decrease. The nearest resistance levels are $270, $275, $280. The nearest support levels are $260, $257, $255, $250, $245.
Technical analysis of Ripple (XRP):
Over the past day, the price of ripple grew to the resistance level of $0.3325, then it went down for a technical correction to the support level of $0.30. Now, the price of ripple is $0.3250. In the future, we expect a technical correction downwards. The nearest resistance levels are $0.3325, $0.34. The nearest support levels are $0.32, $0.31, $0.30, $0.09.
