Ethereum Classic has been getting a lot of positive fundamentals in recent time. A while ago, the Ethereum Foundation donated $150,000 to the Ethereum Classic network. This move to support its big brother was heartwarming. During the same period, there were reports about the Ethereum Foundation and the Ethereum Classic Development Team working on creating an ETH-ETC Peace Bridge. Also, ever since the Ethereum Classic on Coinbase romance started, ETC has become one of the favorites of Coinbase. This has also given the network and extra layer of credibility and improved the Ethereum Classic price prediction.
On the Ethereum Classic news today, we are going to talk about how ETC managed to hit the $5.81 level and how it is primed for gains above that level all the way to $7.00 short-term. This is based on the Ethereum Classic price analysis on Bitcoin Exchange Guide.
Is This The Best Time To Buy ETC?
The price of Ethereum Classic (ETC) has been above the EMAs since it reached $5.81. The technical indicators show that the next upward move will take the price of Ethereum Classic (ETC) to $7.00. After that, there will be resistances at $8, $10 and $12. Keep in mind that if the price of ETC is to break the support at $5, it will most likely fall lower short-term. New support levels will be at $3 and $1. However, it’s unlikely that this would happen so let’s focus on the positive.
One key factor that will support the price of Ethereum Classic (ETC) at this junction is the price of Bitcoin and the general market sentiment. Bitcoin (BTC) has been enjoying a bullish spree for the last few days. It has found support above $5000 and this appears to be a long-term position. If the price of BTC continues to surge, ETC, and the entire cryptocurrency market will follow. At the time of writing, the price of Ethereum Classic (ETC) on CoinMarketCap was $5.66. This means that it is down by 1.99% against the USD and down by 2.11% against BTC. The trading volume over a 24 hour period is $334,684,171 and the market capitalization is $620,080,671.
Ethereum Classic (ETC) Price Today
Ethereum Classic (ETC)
During the cryptocurrency winter, the Ethereum Classic network and the ETC token suffered a great deal. Last year, the Ethereum Classic future prediction was uncertain. This year, the Ethereum Classic price prediction is positive as brighter days are ahead.
Last month, the Ethereum Classic future prediction was bullish. During the recent bull rally this month, the price of Ethereum Classic (ETC) surged higher against the USD just like many other altcoins. Today’s Ethereum Classic news is about the current price of ETC and the best time to buy Ethereum Classic. To see all the comments for ETC you can visit Ethereum Classic Reddit page.
What Is Ethereum Classic (ETC)?
According to the news of Coinswitch; right after the decentralized exchange anonymous organization (DAO) was asked, Ethereum was forked to give rise to Ethereum Classic. Ethereum Classic is a blockchain-based open-source computing platform, having smart contract functionality, which was released in 2015. Ethereum Classic came into existence when some of the members of the ETH community didn’t approve the hard fork on grounds of immutability.
On October 2016 ETC underwent a technical hard fork to adjust the internal price running on Ethereum Virtual Machine (EVM).In July 2016, more specifically at block 1,920,000 the hard fork was being executed, where the chains were split into two and since then they have been acting individually. Ethereum Classic became a parallel blockchain, where in contrast to Ethereum the stolen funds were never returned to their owners.
ETC is one of the top 20 cryptocurrencies in the world, with high potential to grow, as compared amongst the other hard forks.
Ethereum Classic (ETC) Market Prediction By Experts In 2019
Let us see at what various websites have got to say about ETC and its price.
1-Bein Crypto is a crypto prediction website which predicted that by the end of 2019, ETC might be 10X more than what it is now and might even touch the $50, $100 by 2020 and might reach $200 in 5 years, which might give a tough competition to its parent, Ethereum.
2-Long Forecast is specialized in giving a conservative prediction. It has yet again given a pessimistic bearish prediction for ETC, stating that Ethereum Classic might go down to around $2, which is almost half of what it is today.
3-Digital Coin Price predicted that by the end of 2020, Ethereum Classic might reach $6.56, which is not at all an impossible scenario.
4-Trading Beasts also gave a conservative, yet pragmatic forecast, where they stated that by 2019 end, ETC might reach as high as $27.15 and as low as $18.46.
5-Wallet Investor gave the most bearish prediction ever, where they mentioned that by the end of 2019, Ethereum Classic might fall down to as low as $0.272.
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