27 Jan Ethereum Price Silent, World Leaders Expressing Concerns in Davos
Global leaders gathered in Davos to share their opinion on the global economic activities. And, as expected, leaders are frequently talking about the cryptocurrency phenomena. From country’s head to economists and treasury secretaries, everyone is talking about cryptocurrencies.
Ethereum price, which has always been responsive to market news’ and economists comments, is trading in the narrow-range, amid leaders comments on cryptocurrencies.
After increasing substantially in the last twelve months from $8 to an all-time high of $1400 on January 15, Ethereum price continues to trade in the range of $1,000 mark.
Ethereum traders are analyzing global leader’s opinion on cryptocurrencies. These influential’s are policy-makers and their remarks always have the potential to set the market tone for any asset.
There are two meetings in Davos that could have a significant impact on ethereum prices: The Remaking of Global Finance and Crypto-Asset Bubble.
Although global leaders and economists are praising the innovative blockchain technologies, they aren’t passing great remarks for cryptocurrencies.
Talking to different media outlets in Davos, Nobel Prize-winning economist Robert Shiller, said: “Bitcoin might totally collapse and be forgotten and I think that’s a good likely outcome but it could linger on for a good long time, it could be here in 100 years.”
Analysts and participants at World Economic Forum are also discussing the implications of what if cryptocurrencies collapsed.
For instance, The British Chancellor of the Exchequer, Philip Hammond, believes that it’s wise to deal the cryptocurrency issue sooner than later. Philip thinks that the global community shouldn’t let bitcoin and other cryptocurrencies prices to grow to a level where it could create a huge impact on the global economy.
On the other hand, participants are also focusing on the role of regulators in cryptocurrency markets and tax collection. Up to now, cryptocurrency traders aren’t reacting strongly to global leader’s comments and the markets are trading in narrow ranges with few sideways movements.
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