“I actually do think this is one of those issues where it's more important for the United States to get it right than it is to be first, given the dollar's important role globally,” Powell said during an International Monetary Fund (IMF) panel on Oct. 19. “Getting it right means that we not only look at the potential benefits of a CBDC, but also the potential risks and also recognize the important trade-offs.”
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Deutsche Bank issues CBDC warning
Central bank digital currencies could unseat the dollar and ‘change the world significantly,’ said Deutsche Bank, cautioning that their adoption could have unintended consequences
Although the German financial institution acknowledges CBDCs could make transactions easier and create greater levels of transparency, it has released a report that warns digital assets are yet to be tested broadly and in real time. Deutsche Bank is also nervous about CBDCs being issued through distributed ledger technology—stressing that such platforms have “not yet been proven as sufficiently robust for a wide-scale implementation.”
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Fed Chair Jerome Powell's speech announcing increased inflation is good news for safe havens (Photo: CoinMarketCap)Markets Report: Bitcoin needs $11,500 daily close as wild $20M price theory hits
Central bank balance sheet correlation theoretically implies a Bitcoin price of $20 million, a “fun” quant analysis reveals
Bitcoin lingered near $11,500 on August 28 as analysts delivered fresh bullish price projections that ran as high as a giant $20 million. Data from price tickers including CoinMarketCap showed fairly flat action for BTC/USD overnight to Friday, in the aftermath of the Federal Reserve’s inflation speech.
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Markets Report: Bitcoin shuns $11,500 support as $9,600 dip remains on the radar
Opportunities for dips near or even below $10,000 are still there, one analyst says as markets await Fed direction
Data from price trackers including CoinMarketCap showed weakness continuing in BTC/USD overnight on Wednesday. After a brief run to 24-hour highs of $11,530, downward momentum took hold again, with the pair sinking to lows of $11,340. At press time, $11,370 formed a focal point as traders both within and outside cryptocurrency closely eyed macro developments.
