Ethereum Classic (ETC) Price Analysis: Ethereum Classic Dipping Once Again After a Brief Spike – What to Expect from ETC in 2019?

Ethereum Classic went on a spike after Coinbase announced a listing for ETC months back, also gaining an increased momentum back at the time when the listing was made official. What made the Coinbase even more significant besides from the fact that the exchange announced the change of policy towards listing new assets is the fact that the ETC team followed with exciting news about the future of Ethereum Classic. The team behind ETC announced that Ethereum Classic will be working on the Internet of Things, interoperability, increased scalability with Sharding which appears to be a new trend as Charles Hoskinson from Cardano (ADA)and Vitalik Buterin from Ethereum (ETH) are also planning on using Sharding for the future scaling of the networks.

Ethereum Classic (ETC) Price Today – ETC / USD

Name Price24H (%)
Ethereum Classic (ETC)
$5.41
1.96%

The good news skyrocketed ETC to opening new potentials and possibilities, however, the price of ETC didn’t get to benefit as much due to the fact that the crypto soon sank below the initial value of 10$. Currently traded at the price of 3.64$ per one unit, ETC lost over -60% of its value since the November dips started out a month ago, marking major losses with the rest of the dipping market where only a handful of cryptos from the top list seems to be immune or barely immune to the price cuts taking place for the past few months.

Ethereum Classic Showing Positive Returns on the Weekly Chart, but Dipping by over -88% YTD

Ethereum Classic might have had a smooth run conditioned by the Coinbase announcement, however, the crypto lost over -91% of its total value during the course of the last 11 months. Even after the latest dips that appeared at the end of December 14th, ETC is able to keep its weekly rises although only by 3.4% up against the dollar. At this pace of growth, many analysts are implying that Ethereum Classic might be unable to move further from the value of 3$ until some crucial changes are introduced to ETC network. This might as well be the case as ETC didn’t get to see any significant movement in the market ever since the announcement on the Coinbase listing, considering that the performance of the 17th largest cryptocurrency should improve with new updates. However, the planned updates require extensive and dedicated work, so surely, ETC is less likely to get the needed rebound overnight.

What to Expect from ETC in 2019?

Some optimistic predictions imply that ETC will get to see a more serious rebound with the second quarter of 2019, while the crypto market could suffer from additional dips in the upcoming start of the year 2019. In case ETC would get to see more benevolent market trends,its price could go back to 10$ in 2019, however, many imply that the current state in the market is not good enough to send the cryptos up against the fiat, including the first quarter of 2019. For now, it appears that the only factor that could push Ethereum Classic up to the moon is seeing some of the announced changes being implemented into the network.   
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