The Pelosi Effect? Ethereum Faces Headwinds Over Area At $1,600

The Pelosi Effect? Ethereum Faces Headwinds Over Area At $1,600


Ethereum has lost steam after a week of trading in profits. The elements for a potential extension of the bullish momentum were laid out in the macro-economic stage. Still, rising tensions between China and the United States have brought back uncertainty to the global financial world.

U.S. Congresswoman and Speaker of the House of Representatives Nancy Pelosi visited Taiwan earlier this week. Her visit is controversial, as Taiwan is considered a territory in open rebellion by China.

The latter responded to Pelosi’s visit by firing artillery near Taiwan and announcing military exercises, the Asian giant considers this an “act of provocation”. So, tensions about a potential conflict between the U.S., Taiwan, and China in the near future emerged.

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Investment firm Cumberland believes the above highlights

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