In this article, ChangeNOW will break down the basics of Ethereum Classic cryptocurrency and make a prediction on the ETC future price. We base our opinion on the current market chart analysis, opinions of cryptocurrency influencers and our own analytical projections, forming an Ethereum Classic price prediction as a result.
What is Ethereum Classic?
Ethereum Classic is an open source blockchain-based platform for DApps development. The applications created on the platform are made with smart contracts, just like on the Ethereum (ETH) blockchain. ETC is the cryptocurrency of the platform that is used as a payment method. Ethereum Classic appeared as a result of a post-hard fork argument. DAO Hard Fork was not supported by some of Ethereum Foundation members due to their philosophical stands, so they branched into a separate crypto entity – Ethereum Classic. There are three development teams currently working on the project and, to be fair, they are doing a good job of getting ETC on the top of the crypto popularity list.
Ethereum Classic price prediction 2018
Cryptocurrency market is a highly volatile space, so making cryptocurrency price predictions is generally a challenging task. However, ChangeNOW made short-term and long-term Ethereum Classic price projections, basing our opinion on the current market state, ETC price charts and already-existing Ethereum Classic value predictions. The latest Ethereum Classic price chart is provided below.
As the chart analysis states, there is a possibility of Ethereum Classic price increase by the end of this year. Majority of cryptocurrency analysts consider Ethereum Classic price trend positive – as they say, ETC has a huge possibility of growth even in the long-term. Ethereum Classic is a far less packed network if compared to Ethereum (ETH) and other popular crypto coins. Due to this, transactions on this platform are faster – it definitely helps to increase the Ethereum Classic value on the ever-competing market.
Speaking of long-term ETC price projections, we can get to the idea that an almost %200 growth is possible in the next five years to come. As a warning notice, however, we say that cryptocurrency projections in the long term are extremely hard to make – there are too many factors on the market that can either slow down the development of a taken coin or send it to the moon in the blink of an eye.
— Ethereum Classic (@eth_classic) December 11, 2018
During the uncertain periods, we can look for the opinions the officials. According to ETC Twitter, a lot of the developer’s thought goes to keeping Ethereum Classic decentralized. Sure, this approach may be profitable for the coin in the times of whale action on the crypto market. Due to this factor, ETC definitely has the community support – those in favour of cryptocurrency being as decentralized as possible usually turn to more attractive (a.k.a. more decentralized) crypto options.