Yahoo Finance Warnings about Venezuela and the Petro, Ethereum Prices Fall
Ethereum has slightly declined in value the past day upon touching resistance.
Venezuela Pre-Launching the Petro and Critics Abound
Venezuela is set to pre-launch its new cryptocurrency called the ‘Petro’, and critics have made it clear investors should stay away from the ICO like the plague. The South American government has been wrecked by years of mismanagement and corruption. Venezuela’s move into cryptocurrency is viewed as a way to take advantage of the euphoria which still exists among some speculators. Venezuela claims it will integrate the value of the Petro to its abundant Crude Oil industry. However, it should also be pointed out Venezuela’s recent track record economically has been a disaster domestically and internationally.
Ethereum Declines after Testing Resistance, Solid Climb in February
Ethereum has lost value the past day. The price of Ether is near 880.00 U.S Dollars per coin. Ethereum was able to climb as high as 970.00 earlier this week but started to wilt when it approached resistance. However, the value of Ether has risen considerably since early February when it touched lows of 575.00 U.S Dollars. Market sentiment surrounding cryptocurrencies has certainly improved the past couple of weeks and a slight downturn in Ethereum may be met with more buying from speculators.
Supervision and Regulatory Oversight will Increase for Cryptos
A report is circulating that international governments believe criminals are using cryptocurrencies to move ‘dark money’ internationally more effectively. Financial investigators suggest more than 5 and half billion U.S Dollars are being transacted annually by money launderers involving cryptocurrencies. And this is a reason why the European Union, the United States, and Japan have begun to grow more active regarding supervision and regulation.
Cryptocurrency Seminar to be held in London at Arbor City Hotel
A cryptocurrency seminar will be held in London on February the 28th at the Arbor City Hotel.
28th, U.K, Cryptocurrency Seminar in London
Yaron Mazor is a senior analyst at SuperTraderTV.
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This article was originally posted on FX Empire
