Wednesday, April 15, 2020

Market Analysis on April 15, 2020: Central Bank: Unswervingly Promotes the Application of Cryptography in Financial Field

[Today's Hot Tips]

1. [Central Bank: Unswervingly promote the application of cryptography in financial field]

The official public number of the People's Bank of China published the article "Learning Cryptography Law and Building a Strong Line of Defense" on April 15, emphasizing that finance is an important core competitiveness of the country. Cryptography is a key technology and effective way to ensure the security of financial networks, promote financial communication, strengthen financial supervision, and support financial innovation. Cryptography is widely used in the financial field, such as "digital signature" escort credit card consumption, commercial passwords to help online bank transfers.

2020 is the first year of implementation of the "Cryptography Law of the People's Republic of China" and the 90th anniversary of the creation of cryptography. The People's Bank of China put forward six requirements: 1. Resolutely implement and improve the position: Unswervingly promote the application of cryptography in the financial field, and implement various deployments; 2. Planning and lead strategic integration: strengthen top-level design and communication and coordination to form a development plan that guides the application of cryptography; 3. Adapt to the situation and drive innovation: adhere to the problem orientation, promote the integration of the innovation chain, industrial chain and value chain, and implement the cryptography priority development strategy; 4. Comprehensive implementation of classified policies: build a cryptography support system for financial infrastructure and expand the applications of cryptography in the financial field; 5. Strengthen evaluation according to law management: strengthen the formulation of policies and standards for the applications of cryptography in the financial field, and do a good job in evaluating the security of applications of cryptography; 6. Coordinate and promote the formation of synergy: promote the comprehensive and standardized application of cryptography in the financial field, and establish and improve the network cryptography security system in the financial field.

2. [Evans in Fed: The Fed is working on digital currencies]

Evans in Fed: The Fed is working on digital currencies. Personally, I do not completely believe in digital currency.

3. [The minister of Ministry of Science and Technology: Strengthen participation in legislative research in the field of blockchain and guide the formulation of relevant global governance rules]

On April 15, Wang Zhigang, the minister of Ministry of Science and Technology and Secretary of Party Committee, published a signed article "Strengthening Independent Innovation, Strengthening Science and Technology Security, and Providing Strong Science and Technology Support for Maintaining and Shaping National Security" in the People's Daily. The article stated that the rapid development of science and technology poses new challenges to technological security. Among them, blockchain, big data, cloud computing, etc. have brought great challenges to information security, network security, and financial security. The misuse and abuse of technology pose a potential threat to social public interests and national security. The government and social governance are facing new challenge. The article proposes to strengthen the construction of scientific and technological safety laws and regulations. This includes strengthening legislation research in emerging areas such as unmanned driving and blockchain, actively promoting international dialogues on safety and risk management in technology areas of common concern, and participating in and guiding the formulation of relevant global governance rules.

4. [World Bank discusses DLT and fintech in depth to achieve financial inclusion]

According to cointelegraph, in a new study, the World Bank once again emphasized the potential of blockchain for financial inclusion. The World Bank Group about "Payment aspects of financial inclusion in the fintech era" of new report of Bank for International Settlements released on April 14 , Which outlines a large number of concepts related to encryption and blockchain, such as stable currency and central bank digital currency (CBDC).

In this 70-page report, the World Bank provides a detailed overview of certain technological advances that are considered most relevant to payment, and describes their applications and related risks.

[Today's market analysis]

Bitcoin (BTC)BTC has risen slightly since the early hours of this morning, and it rose to a maximum of 6890 USDT at about 1 o'clock, and then retreated slightly. It fell to 6835 USDT at about 4:30, and it is now oscillating within a narrow range around 6870 USDT. Most mainstream currencies followed the consolidation and fell slightly after rising in the early hours. BTC is currently reported at 6888.05 USDT at LOEx Global, with a 0.23% decline in the day.

It oscillates between the support level and the pressure level. The price closes between the pressure level and the support level. The price rises slightly, the price is neutral, and the short-term price trend is downward and then biased towards neutral. If prices continue to rise today, the price trend will rise from falling to neutral. However, it is limited to short-term fast-in and fast-out. The mid and long-term expectations are yet to be seen.

U. S. stocks rebounded more than 500 points last night, and the gains are okay. In fact, from the news side, there are several reasons. First of all, the epidemic situation has actually slowed down. Whether it is the United States or the main epidemic countries in Europe, it is a very good phenomenon. Of course, there are still two large population countries continue to increase, namely Russia and India. Yesterday Putin also said that their situation is getting worse, and India will not talk about it. Compared with this novel coronavirus, their remaining infectious diseases are numerous and there is a trend of group immunization (personal guess).

There are also rumors that the Agricultural Bank of China is conducting internal tests on the central bank's digital currency DCEP wallet on the evening of April 14. If it is true, it will be a major benefit, but it is only a rumor. It is inevitable that many parties deliberately released a news war and will track whether the message surface is confirmed.

Operation suggestions:

Support level: the first support level is 6619 points, the second support level is 6658 integers;

Resistance level: the first resistance level is 7009 points, the second resistance level is 7100 points.

LOEx is registered in Seychelles. It is a global one-stop digital asset service platform with business distribution nodes in 20 regions around the world. It has been exempted from Seychelles and Singapore Monetary Authority (MAS) digital currency trading services. Provide services and secure encrypted digital currency trading environment for 1 million community members in 24 hours.

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