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15 West African Nations Highly Concerned with Cryptocurrency Volatility

World Bank, IMF, and BIS Advocate for CBDC Adoption at G20

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Bitcoin price remained relatively flat over this weekend. It has been trading in a tight range between $31,000 and $35,000 for the past few days. BTC returned to $34,000 and came back to the crossroad again. If BTC can successfully break through and stay above $34,000 this time, it will open a new round of upward paths to the target of $40,000 and if this breakthrough fails, BTC will return to the $30,000 support zone. A break below this support zone will increase the possibility of a downtrend.

Today’s Headlines

The International Monetary Fund (IMF) and the World Bank discussed the cross-border benefits of central bank-issued digital currencies (CBDC), claiming that projects like the United States’ digital dollar would promote global development.

Together with the Bank for International Settlements (BIS), the global organizations released a document saying that innovation on digital currencies will reduce the need to rely on expensive and delayed money transfer services to transport money worldwide. The document was issued for a G20 summit in Italy, which brought together finance ministers and central bankers from the world’s top nations.