{"id":140175,"date":"2019-01-15T11:35:48","date_gmt":"2019-01-15T16:35:48","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=140175"},"modified":"2019-01-15T07:03:11","modified_gmt":"2019-01-15T12:03:11","slug":"ethereums-upcoming-hard-fork-to-further-fuel-wider-cryptocurrency-rally","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/01\/ethereums-upcoming-hard-fork-to-further-fuel-wider-cryptocurrency-rally\/","title":{"rendered":"Ethereum\u2019s upcoming hard fork to further fuel wider cryptocurrency rally"},"content":{"rendered":"
January 15, 2019<\/div>
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By George Prior<\/strong><\/p>\n

Ethereum\u2019s price will \u201ccontinue to soar\u201d throughout 2019 \u2013 and a main driver of the continued rally will be this week\u2019s hard\u00a0fork.<\/p>\n

The comments from influential tech expert Ian McLeod of Thomas Crown Art, the world\u2019s leading art-tech agency, come as the second largest cryptocurrency has secured an impressive rally over the last month.<\/p>\n

Mr\u00a0McLeod observes: \u201cEthereum has made a bullish move and broke the $125.00 resistance – giving the crypto naysayers and\u00a0doom-mongers\u00a0a robust signal that this digital currency is on the upward trajectory once again.<\/p>\n

\u201cEthereum\u2019s rally is part of a wider cryptocurrency rally since the beginning of the year, with other major coins, including Bitcoin and XRP, also securing important gains.<\/p>\n

\u201cThe bulls are back in town.\u201d<\/p>

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He continues: \u201cWhilst we can expect 2019 to be dominated by a considerably more bullish sentiment than in 2018 across the major digital assets, I think it is likely that Ethereum will be the standout winner this year for three key reasons.<\/p>\n

\u201cFirst, the hard\u00a0fork\u00a0set to take place on 16 January.\u00a0 The hard\u00a0fork\u00a0will mean Ethereum miner rewards fall from three ether to two and decrease the block time, resulting in a faster network. This is a key part of a major Ethereum upgrade and the markets are excited.<\/p>\n

\u201cThere\u2019s a possibility the date of the hard fork might be pushed back a little, but traders are managing this into expectations.\u201d<\/p>\n

\u201cSecond, oracles. Oracles –\u00a0data feeds that deliver information into the smart contract from\u00a0third\u00a0parties\u00a0– will inevitably drive adoption of Ethereum smart contracts.<\/p>\n

\u201cThis is because smart contracts\u00a0using\u00a0decision-making on real-world metrics can be expected to find relevant use cases among consumers, firms, and\u00a0organizations, amongst others. And, of course, as adoption and utility of Ethereum smart contracts increase, so will Ethereum\u2019s price.\u201d<\/p>\n

Thomas Crown Art is already a global pioneer in using Ethereum smart contracts.<\/p>\n

Ian McLeod comments: \u201cWe\u2019ve created a groundbreaking solution for artists and art collectors and galleries by giving the capability to use new works of art as a literal \u2018store of value\u2019 and serve as a cryptocurrency wallet for owners whilst providing an independent method to conclusively prove the provenance of artwork quickly and easily, and to view an immutable chain of ownership.<\/p>\n

\u201cUsing\u00a0an Ethereum\u00a0blockchain to authenticate artwork is an ideal use-case for distributed ledger technology. It provides the ability to store a permanent, immutable record of artwork at the point of creation which can be used to authenticate registered works by any third party independently.\u201d<\/p>\n

Thomas Crown Art\u2019s tech expert concludes: \u201cThe sentiment data and technical analysis suggests that Ethereum\u2019s rally, to be fuelled further by the hard\u00a0fork, will continue in the short to medium term.<\/p>\n

\u201cIt is likely that this will\u00a0positively\u00a0impact\u00a0on the rest of the cryptocurrency sector.\u201d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior Ethereum\u2019s price will \u201ccontinue to soar\u201d throughout 2019 \u2013 and a main driver of the continued rally will be this week\u2019s hard\u00a0fork. The comments from influential tech expert Ian McLeod of Thomas Crown Art, the world\u2019s leading art-tech agency, come as the second largest cryptocurrency has secured an impressive rally over the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-140175","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=140175"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140175\/revisions"}],"predecessor-version":[{"id":140176,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140175\/revisions\/140176"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=140175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=140175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=140175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}