ETC (Ethereum Classic) Price Prediction
Ever since 2009, there have been a lot of dynamic changes and advancements in the cryptocurrency world. From being a mere concept published in the white paper by Satoshi Nakamoto, it has grown to be an industry consisting of nearly 5000 different cryptocurrencies and a market capitalization value of billions of dollars.
In this article, we are going to discuss Ethereum Classic, which has resulted from a hard fork of a prominent cryptocurrency Ethereum. ETC ranks 21 in the market at the time of writing.
Now, before we move on to the Ethereum Classic price predictions for the upcoming years, let’s look into some basics of Ethereum Classic and what ETC is.
What is Ethereum Classic?
Ethereum is a decentralized blockchain network that facilitates smart contracts on its platform. These smart contracts are automated to enforce and facilitate the contract without any human intervention, this means no downtime, censorship, and third-party interference. In layman terms, Ethereum provides easy management of any kind of digital assets without the need for any intermediaries in between.
How did ETC emerge? In the year 2016, this cryptocurrency was hacked with attackers stealing nearly $50 million dollars worth of tokens. In order to return the funds to its original owners, the cryptocurrency underwent a hard fork or a split in its blockchain. Now the newer version is ethereum and ethereum classic is the older version, prior to ETC hard fork.
The native token of Ethereum Classic is ETC. Currently, the market cap of ETC is $589 million with the price of one token being $5.07 (at the time of writing).
Ethereum Classic Price: What does it depend on?
Alike other financial markets, the value of the cryptocurrency is also decided by the market forces. Since the first and most impactful one, bitcoin is the one that dominates this market, the value of ETC coin is correlative to bitcoin.
On the basis of correlation analysis, ETC and Bitcoin share a very strong positive relation of 0.77 (this is measured on the basis of both currency’s price movements in the last 100 days).
The strong correlation suggests that the direction for both the coins are likely to be very similar. This means if bitcoin witnesses the price growth, there will be a subsequent increase in ETC coin price as well.
Ethereum Classic Price Prediction 2020
As now we know that Ethereum Classic price largely depends on the market movements and bitcoin, it is believed that it will have positive growth in 2020. It might also improve on the scalability and interoperability in comparison with other cryptocurrencies. And as per the latest Ethereum Classic news, ETC is planning to add hybrid consensus research and mesh networks before 2020 ends.
Here are some of the predictions for the year 2020.
Wallet Investor has forecasted that an investment in ETC will not be profitable for the year 2020, the current price is 5 dollars and likely to fall nearly $0.50 by the end of 2020.
Crypto Ground has predicted a positive future for ETC investors, it forecasted that the valuation of the ethereum classic will rise up to $10.
Ethereum Classic Price Prediction 2025
The current ETC price is $5.03. As per the market matures, it is believed that in the 5 years time frame, the coin price is predicted to have a high trajectory growth.
Crypto Ground predicts that ETC will be a good investment in the long run, and on the basis of data and algorithm analysis they have derived its value will be around $48.9019 in the year 2025.
Coinswitch.co stated that ETC will accomplish new milestones and is likely to reach a value of $114.842 by the end of the year 2025.
Digital coin price believes that the ETC price growth will be quite moderate and expected to reach up to $20.24 USD by the end of 2025.
Where to Buy Ethereum Classic?
To buy ETC, you do not need to look much further. At ChangeNOW, we offer you an easy and seamless exchange to buy ETC coin.
Step 1: On the home page, enter the amount of BTC (or any other crypto) that you want to exchange for ETC tokens. The exchange automatically calculates the number of coins that you will subsequently receive.
Step 2: Enter the ETC wallet address where you want to receive your funds.
Step 3: Now double-check all your details and if everything looks correct, press ‘Confirm’. Please note that any cryptocurrency transactions are irreversible.
Step 4: After you confirm your transaction, send BTC from your wallet to the generated wallet address on the screen.
That’s it! The whole process is fast, seamless, and only takes a few minutes.
We hope this guide has helped you in your considerations on whether to invest in Ethereum Classic. To learn more about ETC, please visit the following Ethereum Classic Review in our blog.
Disclaimer: This article reflects its author’s opinion only and is not financial advice. We take no responsibility for the results of any trader’s decision or action.