Thomas Crown Art

Thomas Crown Art: Ethereum’s Hard Fork May Prompt Further Rally in Crypto

January 18, 2019         By: Steven Anderson

We’ve heard from Thomas Crown Art—and its technology expert Ian McLeod—on more than one occasion. Recently, McLeod dropped word our way about the upcoming hard fork for Ethereum. In fact, current word suggests that not only will Ethereum continue to mount with the hard fork on January 16, but the entire cryptocurrency market will make at least some measure of recovery with its arrival as well.

McLeod, whose Thomas Crown Art has previously been spotted putting cryptocurrency to work as a way to authenticate art and keep artists in eating money, noted that Ethereum—the second-largest cryptocurrency behind only bitcoin itself—had seen a pretty sweeping rally already. It broke a resistance point of $125, which suggested that it could carry right on and recover to new highs.

It wasn’t just the recent resistance break that McLeod suggested would be important. He noted “….The hard fork will 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. There’s a possibility the date of the hard fork might be pushed back a little, but traders are managing this into expectations.”

McLeod also pointed out the value of “oracles,” or data feeds that supply information to smart contracts. Smart contracts are a major part of the cryptocurrency market—it’s part of what’s giving Thomas Crown Art an edge in the field—and with Ethereum gaining ground from the fork, the chance of Ethereum smart contracts becoming the weapon of choice increases.

Many have pointed out that, if precious metals were to ever explode in value, the biggest explosion wouldn’t be seen in gold, platinum or palladium, but rather, in silver. Ethereum is effectively the silver to bitcoin’s gold, and since Ethereum is valued somewhere around 1/26 of what bitcoin is even now as of this writing, Ethereum definitely has a lot more upside potential.

Can Ethereum ever recover its post-bubble losses and re-land the $1,386.02 it saw this time last year? Only time will tell on that score, but with use cases on the rise, there may be some real upside afoot.