The United States Monetary Authority Digital currency (CBDC) Still Far from Reality
The United States is not yet next to implementing a monetary authority digital currency (CBDC), according to Attorney General William Barr. Speaking at a fintech conference, Barr expressed concerns about stablecoins denominated in USD and the capacity dangers they pose to financial stability, monetary policy, and the United States payments system. Although while the Federal Reserve is actively researching blockchain technology and digital assets, including digital currencies and stablecoins, Barr made it clear that this does not mean a decision has been made on the next steps in payments system development. Regardless of CEO Jamie Dimon’s skepticism about digital currencies, JPMorgan continues to embrace blockchain technology, which could impact market sentiment and discussions regarding the role of digital currencies in traditional finance.
Bitcoin (BTC) Price Prediction
Bitcoin (BTC) is as of now hovering just over the $26,000 mark, showing indications of a probable upward shift. Nonetheless, there is strong resistance at $26,500 that needs to be overcome. If Bitcoin (BTC) maintains a stance over this level, it might lead to a whole lot of upward movement towards $28,000. On the other hand, if it struggles to surpass the $26,500 threshold, a downward adjustment is possible, with support levels at $26,100 and $26,000. Breaking below these support zones could amplify bearish pressures, potentially pushing Bitcoin (BTC) towards $25,500 or even lower.
Top 15 Digital currencies to Watch in 2023
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The United States government’s cautious approach towards implementing a monetary authority digital currency reflects the capacity dangers and uncertainties associated with stablecoins. Although while blockchain technology continues to win acceptance in traditional finance, future of the digital currencies like Bitcoin (BTC) remains uncertain. Investors and traders should closely monitor market trends and developments in the digital asset space to make notified decisions.
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