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  • 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