A former head of the People’s Bank of China, Zhou Xiaochuan, said the regulator’s digital yuan was perfect for international and domestic payments.
Xiaochuan emphasized that Chinese stablecoin would be used both in the domestic retail payment system and for international transfers between financial institutions.
According to Caixin, Xiaochuan noted the risks of issuing its cryptocurrencies for central banks. “Central banks should very carefully choose the direction of development. Wrong choices can lead to a credit crisis,” one of China’s most influential financial experts warned.
Technical analysis of Bitcoin (BTC):
Over the past day, the price of bitcoin dropped to the support level of $6,840. Then it reached the resistance level of $7,400. Now, the price of bitcoin is $7,280. More than likely, bitcoin will be in the flat. The nearest resistance levels are $7,400, $7,600, $7,800. The nearest support levels are $7,160, $6,800, $6,500.
Technical analysis of Ethereum (ETH):
Over the past day, the price of ethereum fell to the support level of $141, as we expected. Then it reached the resistance level of $150. Now, the price of bitcoin is $148. We expect ethereum to be in the flat. The nearest resistance levels are $150, $153, $157. The nearest support levels are $145, $141, $139, $137, $132.
Technical analysis of Ripple (XRP):
Over the past day, the price of ripple dropped to the support level of $0.2130. Then it reached the resistance level of $0.2240. Now, the price of ripple is $0.22. We expect ripple to be in the flat. The nearest resistance levels are $0.2240, $0.2320, $02340. The nearest support levels are $0.2130, $0.2040, $0.20.
