Good morning traders! Let's get the day started with a look at events in the crypto world.
A nasty breakup is happening in the cryptoworld. MyEtherWallet (MEW) has been forked in a dispute between it's founders, Taylor Monahan and Kosala Hemachandra. The nature of the dispute is currently unclear, and it might have been nothing more than a divergence of visions. But what will leave many scratching their heads is how Taylor Monahan, the one who forked off from MEW to MyCrypto.com, has decided to move forward.
The interface of the new fork, MyCrypto.com is eeriely similar to MyEtherWallet. See for yourself:
- MyEtherWallet.com
- MyCrypto.com
What else? The MyEtherWallet twitter account was suddenly and without announcment changed to MyCrypto.com twitter account, leaving many followers of MEW confused and clueless. To fork and create a new venture is one thing, but in a manner that this creates such a mess, seems a little off.
I definitely won't be pointing fingers and say who is to blame, because i am not aware of the specifics, but this creates a conundrum for the regular users like you and me - who is the trustworthy party here and which one is the shady one? Or are they both in the right? You decide. My suggestion - until this clears up, be cautious. One can use Metamask, a light-weight Chrome based ETH wallet.
Catch up with the story on btcmanager.com
Read the statement regarding MEW from Kosala Hemachandra here
credz: pixabay.com
Enough of the this! Let's continue with positive news.
The CEO of Pantera Capital, Dan Morehead, says that Bitcoin will probably start gaining in the next few weeks. Comparing the price action with historic moves, Bitcoin's volatile movements are actually quite normal and the best is yet to come, accordign to Morehead.
He argues, that most of the institutional money has still not gotten a taste of the spectacular moves in cryptocurrencies and hence we haven't yet seen proper inflows. I have to say i agree with him - sure, trading will get harder, but HODLing might just get a another boost.
Via bitcoinist.com
Being "underheld" by the powerful institutions is one of the biggest pluses Bitcoin can actually have. And the more regulations are introduced to the volatile crypto markets, the more big players will want in.
Read up on Dan Morehead interview on "Fast Money" here on bitcoinist.com
What are my technical thoughts on Bitcoin? They're quite simple. We're challenging the first downtrend line right now; should we manage to hold above here and 9300, we'll be going to approximately 11K easily.
Check out Chainbb, an alternative frontend for STEEM network. If you like forum style, that's the platform for you.
Title image from pixabay
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