So, if you are looking to invest in this coin? Then hope you know about ETC. If No, Read this detailed prediction and forecast about ETC.
Guess what? After reading this article you will have considerable knowledge of ETC. And you will be able to decide how to invest? and when to invest?
What is Ethereum Classic?
Ethereum Classic is the basic Ethereum token, created on the smart contracts system, which appeared in 2015. It was designed to help the developers to operate the application effortlessly, with heightened security.
Do you know the disagreement encircling the Ethereum DAO hack?. In June 2016, there was a hack that enabled an exploit in the DAO smart contract manipulation. This allowed the hacker to extort 3.6 million ETH from the fund, worth around $55 million during that time.
Withdrawing funds from the DAO locked for 28 days, due to a clause in the DAO smart contract. The Ethereum community was given time to consider whether the blockchain should be forked to roll back the hack, returning the funds to the DAO.
The hardfork alternative was taken. Although, only a few members of the Ethereum community refused to support the new blockchain. They complained that code is the law, and the hack should remain. Eventually, in July 2016, there was the enactment of a hard fork, where the chains were divided into Ethereum and Ethereum classic and since then they became individual entities.
ETC Coin Hack
In 2018, Ethereum Classic (ETC), together with many other cryptocurrencies in the space, endured huge losses. ETC lost more than 90 percent of its value and reached its lowest value in over 19 months.
Ethereum Classic (ETC) is an effect of a hard fork from the actual Ethereum and is one of the best accomplishing digital assets till now.
Ethereum Classic Price Today
Ethereum Classic has been a bit impressive within the last 24 hours. The top 20 cryptocurrency gained around 5% to touch a value of around $5.80.
Ethereum Classic price began a 24-hour price movement on July 5 12:00 hours UTC at around $5.65 per unit and moved horizontally for almost half of the whole day. However, a steep sharp price decline caused the price to bottom at around $5.55 at around 23:00 hours UTC.
Early on into July 6, Ethereum classic price gained a corresponding price surge which supported it at $5.65. The day is filled with alternate buying and selling as ETC coin moves generally horizontally.
Lately, Ethereum classic price spiked up to the $5.80 level and found support at the $5.75 area. This is capped by a total market value of around $672 million amid a $513 million 24-hour trading volume.
Ethereum Classic Technical Analysis
In March 2017 for the first time, ETH Classic made strong growth against USD, which lasted till June, where ETH Classic reached a peak value of more than $20.
After this, the price slowed down by the end of September. The overall trend in 2017 of the general cryptocurrency market, saw Ethereum Classic with an all-time high of over $45 by January 2018.
But to surprise, in 2018 the great crypto market crash occurred, the value of ETC continued to the dropdown. During this time, Ethereum Classic came as low as $3.33, losing more than 90 percent of its value. In November and December of 2018 Etc coin saw the worst months so far, leading to loss of more than 60 percent in just a month, completing the double top reversal.
Ethereum Classic Price Prediction 2020
Ethereum classic is still in little gains in 2020. In its 6-month price movement of 2020, the cryptocurrency is currently trading at a considerably higher price than it initially began the year. About 50% gain differentiates ETC coin price in January from its current price tag.
Prices spiked to around $12 in February and bottomed at $4 in mid-March. A slowly climbing price action has escorted Ethereum Classic price through $8 as of June, 2020. Although right now, a corresponding price decline materialized to dump ETC coin price at $5.8.
As of recent, key updates of Ethereum Classic are developing embedded SVM, which would enable EVM (Ethereum Virtual Machine) and SpitnikVM for embedded applications. Another improvement is boosting the ETC JIT compiler, which assists in summarizing byte code to the native code and will reduce the time of program execution by 3x to 4X.
Further, It seems ETC developers have plans of EVM backend objective for LLVM. Amid these updates, ETC may trade at $10 by the end of 2020. More so, some crypto Analysts say that ETC coin inclines to take a bearish twist and span to around 0.437 USD with a reduction of 91.0688 %.
Ethereum Classic Price Prediction 2021
Also, Ethereum Classic may further improve its scalability. This, along with interoperability with other blockchains, it is necessarily a big step to fulfill greater heights. In the meanwhile, ETC will secure more partnerships with regards to the upgrades, these may eventually increase its value to $30 by the end of 2021
Ethereum Classic Price Prediction 5 years
In the next 5 years, Ethereum Classic might enter higher heights and landmarks. It may be respected as one of the top 10 cryptocurrencies in the world. Also, it might pose to be a great competition to the leading cryptocurrencies like bitcoin and Ethereum. Ethereum Classic would most likely benefit in adoption globally. With these, by the end of 2023, ETC might reach $100.
Ethereum Classic Market Prediction
- The market is overly bullish on Ethereum classic. Although some skeptical views also exist, the majority believe that ETC has great potential as many are hopeful.
- Following Being In Crypto’s ethereum classic news by the end of 2020, Ethereum Classic price (ETC coin) will grow by about 1000% and may even grow to the $50 or $100 by 2020. In the next 5 years, it will go around $200, which might give a tough competition to its parent crypto, Ethereum itself.
- According to WalletInvestor, there is a very confident Ethereum Classic prediction. The expert believes that ETC coin, by the end of 2020, will sink by almost 98% to touch $0.272.
- Digital Coin Price predicts Ethereum Classic might reach $6.56, by the end of 2020.
- Trading Beasts delivered a conventional forecast, where it explains that by 2020 end, ETC might go as high as $27.15 and as low as $18.46.
Our Price Prediction
Our Ethereum Classic prediction leans towards a bullish sentiment. We make reference to various inbound developments and forthcoming partnerships between Ethereum Classic and major industry players.
Accordingly, we see Ethereum Classic price hovering around $18 by the end of 2020 and in 2021, prices may touch as high as $30. In the next 5 years, we believe ETC coin price will see explosive growth. $50 is very likely.
Ethereum Classic News
Ethereum Classic (ETC) On Chainsafe
Ethereum Classic Labs recently revealed that it will support ChainSafeth in developing ChainBridge to increase its interoperability with Ethereum.
Celsius Network Adds Ethereum Classic
The Celsius Network have added Ethereum Classic to their platform. Of note, Celsius is a cryptocurrency based lending platform.
Ethereum Classic Devs Building a ‘Chainhopping’ Bridge Between ETH and ETC
ETC Labs, the San Francisco-based incubator for the Ethereum Classic (ETC), has announced a partnership with Metronome to build a “ChainHop” Interoperability between Ethereum and Ethereum Classic blockchains.
Per the announcement, blockchain interoperability—also referred to as “chainhopping”—is a property of a blockchain asset meaning that it can be transferred between separate blockchains. In this case, the cryptocurrency Metronome (MET) will be transferable between the ETH and ETC blockchains.
Atlantis Hard Fork for Ethereum Classic Scheduled for September
The developers of Ethereum Classic announced a release date of the system-wide upgrade, or hard fork, for the Ethereum Classic blockchain.
The targeted block number for the so-called Atlantis activation is 8,772,000, which is expected to hit at roughly 12:00 UTC on Sept. 17.
Currently, the Atlantis hard fork is undergoing testing to weed out any bugs before the fork will be rolled out in September.
Ethereum classic (ETC) remains one of the most successful hardforks in the history of blockchain. In conclusion, we believe that the project has great potential to exploit the space to considerable extent and will definitely increase the price of its native cryptocurrency in the long run.