Malaysia to Impose Cash Transaction Limit of $6K in 2020: Report

Malaysia is planning to impose a $6,000 limit on cash transactions in 2020, according to a deputy governor at the country’s central bank. The new restrictions aim to prevent the use of cash in illicit activities, and won’t affect regulated financial institutions or other entities transacting for humanitarian aid purposes. The average Malaysian household spends $1,900 per month Abdul Rasheed, the deputy governor in question who works for Bank Negara Malaysia (BNM), claimed that the measures will apply to all transactions involving physical cash, including payments for goods and services,…

Bitcoin Falls 4.3%, Slipping Below $9,000 for First Time in Two Weeks

Bitcoin fell 4.4 percent Friday, slipping below $9,000 for the first time in two weeks. Analysts cited a lack of positive market drivers and speculation that the U.S. Federal Reserve might pause this year’s rate-cutting cycle, which could curb demand for the cryptocurrency as a potential inflation hedge. The price dropped to $8,800 as of 18:57 UTC (1:57 p.m. New York time), according to Trading View. It’s still more than double where bitcoin was at the start of the year, leaving the cryptocurrency as one of the world’s best-performing asset…

Bitcoin Price Breaks Below $9,000, Historic Rally Now In Jeopardy

Two weeks ago, Bitcoin price set a record for its third-largest 24-hour gain in the young asset’s short history, rocketing from $7,400 to $10,500 from low to high. After weeks of consolidation, the crypto asset has run out of steam and has begun to fall, first breaking below support at $9,000 where it is currently trading. Can bulls push Bitcoin price back above support and make a push higher, or will bears regain control and potentially set a new local low? Bitcoin Price Finds Itself In Another Descending Triangle, Breakdown…

Fed Must Launch FedNow Ahead of Facebook’s Libra, Says Gov’t Official

A senior United States federal official has argued that Facebook’s Libra highlights the need for the Federal Reserve (Fed) to act urgently and launch its own real-time payments system. In a letter addressed to the Federal Reserve’s Board of Governors on Nov. 7, Rohit Chopra —  a commissioner at the United States Federal Trade Commission — expressed his support of the central bank’s proposal to launch a new, round-the-clock real-time payments system dubbed “FedNow Service.” A potential “shadow global central bank” In his letter, Commissioner Chopra argued that the central…

Bitcoin (BTC) Price Showing Signs Of Bearish Continuation

Bitcoin price is struggling to rebound and declining below the $9,300 support against the US Dollar. The price is likely to accelerate decline if it breaks the $9,120 support area. There is a major bearish trend line forming with resistance near $9,240 on the hourly chart of the BTC/USD pair (data feed from Kraken). Similarly, there were bearish moves in Ethereum and ripple in the past three sessions. Bitcoin price is showing bearish signs below $9,300 and $9,240 against the US Dollar. BTC price could accelerate losses if it continues…

Bitcoin And Crypto Market Cap Eye Next Break: BCH, XLM, EOS, TRX Analysis

The total crypto market cap is currently consolidating in a range above the $232.0B support area. Bitcoin price is holding the $9,200 support area, but it is also facing hurdles near $9,400. BCH price is currently correcting lower after it failed to break the $300 resistance. EOS price is consolidating near $3.500 and it could correct lower towards $3.400. Stellar (XLM) price is climbing higher once again and it might test the $0.0800 resistance. Tron (TRX) price is facing a strong resistance near the $0.0200 zone. Bitcoin (BTC) and the…