Trading Values Stabilize for Cryptocurrencies, Investors Doubting Venezuela’s Petro Currency

The SEC continues to talk about ETF’s and question how they will be valued regarding Blockchain funds.

Cryptocurrencies Take a Breather and Stabilize, SEC and ETF’s

Cryptocurrencies have taken a breather and have stabilized after their massive volatility early last week. Bitcoin, Ether, and Ripple among others have entered today’s trading relatively calm. The Securities Exchange Commission is still making the news. After publishing a letter last week stating it has many questions on how cryptocurrency ETF’s will be valued, funds which claim they will trade in Blockchain related stocks will come under more scrutiny.

Ethereum Battles Swings as it Trades in the Middle of its Range

Ethereum is in the middle of its trading range. The cryptocurrency has made huge strides since early December when it was trading at 400.00 U.S Dollars. Its current value near 1060.00 U.S Dollars is a gain of more than double. However, Ether did attain a high of about 1360.00 U.S Dollars about a week and a half ago, but it also saw lows of nearly 760.00 U.S Dollars only a few days later. The wild swings of value for Ethereum are likely not done.

Venezuela Cryptocurrency Met with Skepticism

Venezuela continues to talk about the formation of its own government-sponsored cryptocurrency called the Petro. Venezuela claims it will base the coin on its Crude Oil based economy. However, investors have shown little interest and outright skepticism regarding the venture, knowing full well the sanction mired nation faces a difficult road ahead.

Davos World Economic Forum and Blockchain Discussions

The Davos World Economic Forum will get underway tomorrow and Blockchain & Cryptocurrency will be a major talking point during the conference.

• 23^rd-26th, Switzerland, World Economic Forum Annual Meeting

Yaron Mazor is a senior analyst at SuperTraderTV.

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