Is China on the Verge of Releasing a Digital Currency?

August 12′ 2019


Is China on the Verge of Releasing a Digital Currency?

China’s central bank has revealed details of a plan to issue a blockchain-powered digital fiat – and appears to be assembling a host of resources and personnel to speed up the process.

Per a report from Beijing Business Today (republished by Shina), the deputy director of the People’s Bank of China (PBoC)’s Payment and Settlement Department, Mu Chang Chun, has confirmed that the bank has been working on releasing a digital fiat since 2014, and is now “ready” to roll the currency out.

The newspaper also says it has discovered the central bank is actively recruiting talent and acquiring or investing in blockchain technology firms in the country – perhaps preparing the ground for a forthcoming launch.

So is this fundamental news going to boost up the Altcoin?

Technically it says in her last week close, Bitcoin posted a long inverted and nicely done. This has created space for her to reach 14,000 level.

Most probably you will see the movement pretty soon. We.don”t have to wait till mid-week.

Ofcourse safety measure comes first and don’t forget to place a stop-loss order at the nearest support level.

Whereas looking at the German Index. The G30 or DAX has posted a bear inverted last, but she has a incomplete indecision pattern before last week close and a long inverted before last week; which may result into pushing up the price this week; pretty high.for indexes.

But beware of the last week bear inverted close that may force fall the price before the week closes.

It may close lower then last week if this week the price push above 12,000 level.

We may see a 2 way run pattern. Be cautious and place a stop-order near the support point

Will update soon.


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