Ethereum (ETH) has major potential, according to former Google CEO Eric Schmidt
|- Former Google CEO expresses his view on Ethereum and its peers, in addition to blockchain in general.
- ETH/USD undergoing a pullback, after a recent run of gains. Eyes near-term on $200 as potential support.
Google’s former CEO was recently speaking on Ethereum and other cryptocurrencies, at a live event in San Francisco. Proving is thoughts on the potential behind with blockchain and what is serves with the technology. Eric Schmidt is a known Bitcoin and blockchain enthusiast.
“Today, blockchain is a great platform for bitcoin and other currencies. And it’s a great platform for private banking transactions where people don’t trust each other.”
Schmidt noted that there are exciting developments occurring with Ethereum that could revolutionize business and society.
In terms of ETH/USD, like several of its peers, is undergoing a small correction. This follows the decent bull run seen of late, since managing to bounce on 31st October, following downside pressure. Near-term, eyes will be on to see if the psychological $200 mark can serve some purpose, in catching the falling price. Should this fail to hold, a quick slip back down to $180-170 area could be observed, a known demand zone. Elsewhere, price action has been moving within a rising channel pattern formation, subject to a potential breakout south.
ETH/USD 4-hour chart view
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.