• 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

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