Ethereum Classic (ETC) is one of the oldest cryptocurrencies that still has maintained its place among the top altcoins as it has reached a market cap of over $6 billion and trades on all major exchanges.
The popularity of the coin has piqued the interest of investors, and therefore, many people look for the accurate Ethereum Classic price prediction. Although, some associate Ethereum Classic with risks.
It was created due to a split in the developer and user community, just like with Bitcoin and Bitcoin Cash. Ethereum Classic is one of those coins that remain in the market even after several other coins cease to exist. Therefore, it becomes necessary to have Ethereum Classic price prediction.
Developments affecting the price
Digital assets manager, Grayscale Investments recently announced that its Ethereum Classic Trust is now an SEC reporting company. With this move, ETC joins the list of investment vehicles from the world’s largest digital asset manager. A list that also includes Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Digital Large Cap Fund.
In the past few weeks, the price of Ethereum Classic has been alternating, reaching as high as $76.94 on September 6 2021 before dropping to $52.02 the very next day. While it has slightly increased in value and is currently worth $58.20, it’s still very far from the all-time high of $176.16 established back in May 2021. Grayscale’s move means the interest in ETC will increase, even if only for a short time. Ethereum classic price today is $46.9. Thus, it’s important to know what the Ethereum Classic coin is all about.
The functionality differences increase over time, creating large price and capitalization size differences. However, the Ethereum classic is still one of the good coins to diversify your cryptocurrency market investment portfolio and avoid high risk. Considering this in mind, let’s discuss the Ethereum Classic price predictions.
What is Ethereum Classic?
Ethereum classic coin was in July of 2016 created as a result of a split in the Ethereum community after the original blockchain got hacked. Fundamentally, the two blockchains – Ethereum and Ethereum Classic were similar at first. The history of this crypto is definitely valuable.
However, over time, differences arose as the Ethereum classic network community wanted to keep the blockchain running on a proof-of-stake consensus algorithm and secure blockchain immutability. The Ethereum community wanted to develop it into a much advanced, proof-of-stake-based digital currency.
There weren’t many people who understood the concept of division in the initial stages, and the Ethereum Classic prediction remained at a lower level. Ethereum Classic is more of a protocol rather than being a store of value like gold. Ethereum Classic current market status is being compared to gold.
Ethereum Classic Overview
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
|ETC||$ 48.66||$ 6.39 B||2.14%||131.34 M||$ 1.27 B|
Ethereum Classic Network & Signals
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The Functioning of Ethereum Classic
As with Ethereum, the Ethereum classic uses a Touring-complete virtual machine called Ethereum Virtual Machine (EVM) to execute scripts and connect its nodes.
Its total supply is hard-capped at 210,700,000 ETC as of December 2017. Similar to Bitcoin having reward halving, Ethereum classic reduces its block reward by 20 percent every 5,000,000 blocks.
At every halving event, it is necessary to update the Ethereum Classic prediction. This is applicable to every cryptocurrency out there.
It works on the proof of work protocol and has great potential owing to the Nakamoto Consensus mechanism. Recently, Ethereum Classic had reduced the block reward for mining each block from 4 ETC to 3.2 ETC. The Ethereum Classic prediction became more optimistic due to the halving event as the coins left to mine lowered down.
Therefore, Ethereum Classic price has become more similar to Bitcoin’s price in some aspects than its original source – Ethereum. People have always compared Ethereum Classic price and functionality to that of Ethereum, the latter winning every time.
Today, we can see that the Ethereum Classic price has fallen behind the original Ethereum, which the Ethereum Foundation runs. Ethereum trades with a much larger market capitalization and has gained much larger popularity.
However, Ethereum Classic is still trendy and can be purchased on practically every cryptocurrency exchange. Therefore, let us have a look at the Ethereum Classic prediction.
Should you invest in Ethereum Classic?
When comparing Ethereum blockchain vs. Ethereum classic blockchain, the difference can’t be clearer. We can see that Ethereum has performed substantially better as compared to Ethereum Classic price over the past years. Hence, it might be time to sell Ethereum Classic and buy Ethereum instead.
ETC Price Comparison in Recent Date
Looking at the technical analysis from historical data, ETC price/ETH price has traded in a range of around 0.028-0.015, indicating a cyclical nature for which of the two crypto markets perform the best.
However, in 2020, we saw Ethereum price outperform Ethereum Classic price substantially, leading to a new several-year low for ETC/ETH around 0.005.
When looking at the performance against Bitcoin price, Bitcoin saw a significant increase in the year 2020. The ETH/BTC price has dropped a lot more from the high of 0.004 in 2018 to 0.0002 during the first months of 2021.
Therefore, the digital coin is not as attractive for a serious investor, despite bullish Ethereum Classic news frequently seen. The demand for Ethereum Classic coin simply cannot outmatch that of the two market leaders – Bitcoin and Ethereum.
It is important to look for proper support and resistance levels to understand the price forecast and afford to invest in Ethereum Classic using your hard-earned dollar.
The current stat for ETC/BTC is around 0.0011 and for ETC/ETH is around 0.016.
In the past week’s analysis, we have seen Ethereum Classic price rise to the price of $77.36 while currently, it is at $48. This price is, of course, way below that the all-time high that was created at around $175. Since then, the coin has been losing its value.
The only danger of investing in Ethereum Classic is its susceptibility to 51% attacks.
During such attacks, the Ethereum Classic price seems to drop. Security is a major factor for the Ethereum Classic (ETC) price forecast.
It has been a target of many such attacks, and it was formed from one such attack. Therefore, it is imperative for you to perform your due diligence before investing.
Ethereum Classic (ETC) price prediction
Price predictions are significant for investors. For Ethereum Classic price prediction 2021, the coin has been showing mixed signals.
Historical price analysis
At the start of the year, the coin rose to $50 in the month of April, after which growth of over 400% was seen! This previous growth led to the coin touching its high of $167, and thereafter, the coin has fallen to a great extent.
Once the current several-week retracement ends, for the end of 2021, a higher milestone of $200-$400 and a lower milestone of $150 can be expected for the Ethereum Classic (ETC) price forecast. It is a fact that the coin rose over 3000 percent in the year 2021 alone.
As evident from the data, this could happen again if Bitcoin starts to rise, and the Ethereum Classic (ETC) price might even touch $1,000 as Bitcoin will provide support to the crypto market.
Several other ETC/USD (Ethereum Classic/US Dollar) price forecasts estimate a much lower maximum price of around $400, with minimum price targets even lower. However, things might turn around for Ethereum Classic and other cryptocurrencies if the bullish momentum arises. We should see Ethereum Classic push much higher this year.
This means that for 2021, Ethereum Classic (ETC) is definitely a good investment, according to our predictions. Therefore, we can expect another huge rise in the Ethereum Classic price, giving chances of big money involvement and a significant increase in adoption.
Currently, it is to be noted that the circulating supply for ETC is 130,325,944 ETC which also determines the future price of the coin.
The thing is that the Ethereum Classic price prediction will be dependent on the price of BTC, and therefore, if Bitcoin forecasts go up, so will the rest of the market, including Ethereum Classic. It is highly likely that the Ethereum Classic price will rise again in a matter of weeks to months.
We can see in the 4-hour chart that the price today has fallen under the 50-day and 100-day Moving Averages. This price prediction of Ethereum Classic rests on this fact. In such conditions, the price will breach $100 in a few weeks to months from this date.
The price seems to be breaking out of the lower end of the Bollinger Band, but slight reversals can be seen. Overall, in the long term, the bulls might be carrying the market, and therefore, we might see an increase in the price of the ETC/USDT pair. It would be great to buy ETC from major exchanges.
Ethereum Classic price prediction assumes that the overall crypto market would rise after this bullish trend in the coming weeks after August, gaining ground later this year by January. Ethereum Classic price forecast solely depends on the performance of the coin in the coming weeks, including the months of September, October, as well as November. As with most altcoins, if the overall market starts to slow down even further, we should see it reflected in the Ethereum Classic price forecast as well.
ETC price prediction 2021 by Wallet Investor states the price of ETC at a max of 71.872 USD by the end of December 2021.
Ethereum Classic Price Prediction for 2022
Ethereum Classic Price Prediction for the year 2022 is mostly bullish as the price of Bitcoin has been expected to be around $100,000 in the most bullish scenario. This means that the growth of Bitcoin will definitely cause a surge in the price of Ethereum Classic as well. So, one year from tomorrow, you might wish that you bought Ethereum Classic.
Therefore looking at the current circumstances, it is possible that the coin rests between a bearish growth of below $100 to a high above $1000. All of this depends upon the emergence of bulls and bears. The occurrence of a sustainable rally is a must.
Ethereum Classic price forecast for the year 2022 can depend on a variety of factors. If the bull market appears later this year, Ethereum Classic cryptocurrency could trade in a relatively wide range. In this scenario, Ethereum Classic could spend the upcoming years retracing most of its gains, as seen during 2020.
Forecast by Wallet Investor shows that the price of ETC will reach 280.775 USD in a matter of 5-years as shown in the chart below.
Ethereum Classic Price Prediction For Next 5 Years
According to crypto expert Bobby Lee, the crypto market overall is set to continue increasing over the next five years as Bitcoin is expected to reach the $300,000 mark. Therefore, Ethereum Classic price prediction remains bullish also for the five-year period.
In 5 years, we can expect the Ethereum Classic price to exceed $2000 easily if the bulls keep their arrivals regular. Also, considering its relation with the Ethereum Network and the inclusion of many projects in the future, a bullish run is definitely possible for Ethereum Classic.
As Ethereum Classic continues developing further features such as smart contract and decentralized app execution on the Ethereum network, we expect Ethereum Classic price prediction to reach the $3000-$5,000 mark by 2026. Making a long Ethereum Classic price prediction for the upcoming years is a relatively safe bet as it is still among the top traded assets on practically any crypto exchange. It is always better to consider 5 years from tomorrow.
Considering the price prediction by Wallet Investor, one year from now, we can see ETC/USDT pair reach $94.4. Another analysis by Digital coin predicts the price of the coin to reach $73.38 by the end of 2021 while reaching as much as $212.62 by the end of 2028.
Overall, the Ethereum Classic price has performed excellently at the start of the year. Still, it is falling as several minimum price targets have already been reached, and the coin is continuing to fall further. But, it is to be noted that it is one of the best currencies.
Although it is hard to be accurate in a market whose volatility is huge, this year has seen a lot of commotion in the crypto market, and it has affected Ethereum Classic’s price. ETC plays a huge part in the coronavirus pandemic, which could positively affect Ethereum Classic price. Also, connections have been developed between Ethereum Classic and Ethereum with the help of Phoenix and Agharta forks.
If you are losing money rapidly, it could be due to a disbalance in your judgment. Be more precise and use complex instruments for a significant increase in your profit. It is imperative that you consider risk warning of the markets on a daily basis to determine your position at the very beginning.
Our Ethereum classic prediction is very bullish for 2022 and further as a result of the rapid move towards the current all-time high of $175 and a gain of around 3000 percent since the start of 2021.
As always, this investment advice depends on your personal risk tolerance and the ability to capture the opportunity at the right prices. We believe that in accordance with our Ethereum Classic price prediction, it will yield good returns over the following years. However, the market leaders – Bitcoin and Ethereum will likely outperform Ethereum Classic price-wise.
While trading or investing in Ethereum Classic, read our price prediction articles on other great altcoins such as Monero and Bitcoin Gold. To learn more, see our investing in Cryptocurrencies step-by-step guide.