"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.. 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..
The narratives should have nothing to do with the government. The government does not care about Eth or any cryptocurrency for that matter because it is even a big source of regulatory headache to them...am sure that deep inside many government officials are wishing that cryptocurrency was not born at all as it is in fact a competitor of the power they have in their hands. In my view, the market can creative the positive narrative for Eth but sadly what we are hearing now is the other side...the negative side that is why Eth is falling but let's hope that soon this can be reversed.