"With $ETH price dropping below $200, @Decentraland's @TonySheng says narratives will continue to fuel #crypto market trends in the absence of clear regulation and valuation methods.
https://ban.cr/ShengNarratives"
Do you think what he is trying to say is that the only way for ETH to quit dropping is for the government to take over?
Sounds like it and I completely disagree..
If that what's his trying to point out then I also disagree with him.
He has a point about the narratives driving the market, but regulation and valuation? would just be another part of the narrative..
Like wtf, Do they want the government to say "Ok, ETH is worth $500 today." ??
Well that might sound dandy to some but they are never going to say that it's worth $20k because they wouldn't let that happen..
Like some authority is going to tell us what ETH is and is not worth, lol..
Regulations is just one piece of the puzzle. Of course narratives will fuel the market, we have seen this in the past and its either work in favor or against us. ETH dramatic fall has something to do with ICO's dumping as fast as they are being born every minute. The closest thing we can see government entering the picture is regulations, but I doubt it can put a dent for the long run. For me, ETH still has the fundamentals with its Dapps, but I would say that ICO's and EOS attach are partly to blame for its massive declined this year.
