RATE Group | Top 3 coins Bitcoin, Ethereum and Ripple send red signals
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Top 3 coins Bitcoin, Ethereum and Ripple send red signals

Top 3 coins Bitcoin, Ethereum and Ripple send red signals

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  • China could soon face out the cash systems with the launch of the sovereign digital currency.
  • Tom Lee believes the recent rally is evidence of better dynamics for cryptos in 2020.
  • Bitcoin struggles to hold above $8,600 while Ethereum barely sits above the $160 key support.

The crypto market has been extremely eventful this week. The massive recovery saw bulls storm the market in large numbers. Some cryptocurrencies such as Bitcoin SV, Dash and Bitcoin Cash were like Usain Bolt on steroids. Generally, the majority of the digital assets recorded incredible gains are now trading at levels higher than those at the beginning of the year.

China nears the launch of the PBOC-backed digital currency

China has been researching, developing and testing the soon to launch sovereign digital currency for the last five years. Officials from the People’s Bank of China reported that the process is almost done and the launch is nearing. The release of the digital currency…

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