Fiat currencies are starting to lose their shine in the global recession. However, cryptocurrencies have also fallen since the highs reached in 2021. As in all markets, bear markets are common in crypto. We believe that bitcoin and altcoins like Ethereum classic will rebound to their previous highs.
The financial world has entered a new era with the emergence of cryptocurrency. Investors have a multitude of benefits from the wide range of cryptocurrencies. Each cryptocurrency, including Stellar, Ethereum, and Bitcoin has its own benefits.
However, accessibility, transparency, and high transaction fees remain a problem.
The crowning achievement of the crypto industry is Ethereum Classic, also known as ETC. It is the native token that was created on the Ethereum system. ETC blockchain is dominated by science-based and algorithm-based cryptocurrency, while Decentralised finance (DeFi), is gaining popularity.
Background Information: Ethereum Classic
The Ethereum Classic token (ETC) is a native token of the network with the same name. It was created in 2016 by a hard fork to the Ethereum (ETH). Ethereum Classic’s use case is the same as ETH – it serves as a smart contract platform – and the ETC token’s purpose is to power this network.
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Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
It is highly controversial to discuss the circumstances that led to the creation Ethereum Classic. The Ethereum DAO hack of 2016 inspired the idea of the Ethereum Hard fork. DAO investors lost over 11 million Ethereum (US$50 millions at the time) due to this hack. The stolen tokens were finally discovered, sparking heated discussions in the Ethereum community over how to best deal with them.
One group believed that the funds should go back to their original owners. Another group thought that it would be against the blockchain philosophy of absolute inmutability. The second group believed that the transfer was anchored to the chain and should therefore be kept so, even if fraudulent. The vote was won by the first group. Ethereum was then “hard forked”, and the original chain became Ethereum Classic.
While the Ethereum network is still the largest, Ethereum Classic has had its share of successes. ETC fees are generally lower than ETH which can be a benefit for many. ETC was affected by numerous 51% attacks in 2020, but recovered by 2021.
In May 2021, it reached $176.16, its highest point. The crypto market has had a difficult year in 2022, with many crypto lending platforms closing down and the collapse of crypto exchange FTX. This was due to poor practices. ETC has also suffered from the market’s decline of 89% since its peak just over 2 years ago.
ETC currently trades at $19.33 as of the writing of this article.
What is Ethereum Classic?
Ethereum Classic is an open-source, decentralised blockchain that supports smart contract support. It is a fork from the Ethereum blockchain. It was created in 2015. Ethereum Classic was founded in 2016 after a hard fork that resulted from the hack of DAO. This decentralised and autonomous organisation is built on Ethereum blockchain.
Two different Ethereum versions were created by the hard fork: Ethereum Classic (ETC) and Ethereum (ETH). Both chains shared the same history up until the moment of the fork. They diverged after the fork. ETC retained the original blockchain, while ETH maintained the changes that were most requested. ETC is now the “original” Ethereum blockchain.
ETC is more well-known and widely used than ETH, but it has a smaller but dedicated following who believe in the immutability blockchain technology. ETC is frequently referred to “the true version of Ethereum” because it has the following characteristics:
Historical Prices for Ethereum Classic
An analysis of past Ethereum Classic price performance is a key step in making accurate ETC price predictions. The Ethereum Classic cryptocurrency market has seen dramatic price changes since 2016, when the currency was first traded.
Historical data shows that ETC’s price increased significantly in April and May 2016, shortly after its debut on the exchange. It rose from $0.508 up to $0.660, a significant rise that reflected early investors’ long-term interest, despite the high risk.
Ethereum Classic’s price predictions experienced rapid growth throughout 2017, unlike many other cryptocurrency. The exchange rate of Ethereum Classic was below $2 in January. There was a high chance that it would drop. It had reached an all-time high of $18 by September. However, that was insignificant compared to the future growth spurt.
Ethereum Classic predicted that the ETC market would experience massive inflation. Its price soared from $10 to $40 between October 2017 and December 2017. However, Ethereum Classic prediction was right. In December 2018, ETC traded around the $5 mark. The price of cryptocurrency fell to $4.51 by March 2020 after a widespread sell-off.
Surprisingly the Ethereum Classic prediction saw a significant price increase during the Covid-19 phase. This was despite all the other currencies performing poorly. The currency experienced significant momentum and investor confidence as a result. There was a lot of business done and money exchanged. The Ethereum Classic price prediction trend has been upwards since April last year. This is a huge victory according to the pandemic phase.
ETC has finally proven itself worthy of such an investment. Its price curve continues to rise upwards, surpassing all expectations. A deeper analysis of the ETC price history for Ethereum Classic cryptocurrency prices shows that there are few promises. The partnerships are rare, except for the large amount of funds.
ETC price oracles, despite being in high demand, are complex. Investors who had been waiting for the launch of Ethereum mainnet received some relief. This led to a significant rise in the price Ethereum Classic ETC. These factors have led to a significant increase in Ethereum Classic’s adoption. ETC is listed on many exchanges and has been able to position itself among the top currencies. However, it must maintain its leadership position. In July 2021, the Ethereum Classic prediction launched Magneto, a hard fork that would implement multiple features via a Berlin hard fork.
Expert Opinions on Ethereum Classic Price Forecast
CoinPriceForecast
“The Ethereum Classic ETC Price Prediction will Exceed Expectations” The Ethereum Classic price prediction will surpass $69.98 by 2025. This is the highest price it has seen in the first half of the last five years.
WalletInvestor
“Based on Wallet Investor, our Ethereum Classic forecasts and price analysis, a long term rise and peak price are expected.” The minimum price for Ethereum Classic (ETC), in 2027, is $230.652. The return on investment is around +691.56% with good 5-year investment advice.
CryptoGround
According to the price forecast and its technical analysis, $128 will be the highest price in the first half the Ethereum Classic ETC price prediction. This price forecast is for 5 years.
LongForecast
According to price analysis and our research, the Ethereum Classic forecast price could reach $19 (peak) by the end this year. However, it could hit a peak of $25 (minimum) in the near term.”
Ethereum Classic Price Forecast
Ethereum Classic Price Forecast 2022
According to Crypto Ground the current price for Ethereum Classic (ETC), is $19.3200.
CryptoNewsZ Ethereum Classic price prediction 2022 predicts that ETC will see a price rise despite recent price increases for almost all crypto coins. The current price trend pattern of Ethereum Classic against the USD and the trading patterns within that price range indicate that it may continue to fall in the first half term Ethereum Classic Price Forecast 2022. It is impossible to predict whether ETC’s price movements will improve or decrease, but it is clear that there is light at end of the tunnel for the near term up to 2022. It is expected to reach $42.
Changelly’s technical analysis for Ethereum Classic prices in 2022 shows that the absolute minimum Ethereum Classic price will be $20.76. ETC prices can reach a maximum of $22.35. Expected average trading price to be $21.75.
Changelly says that based on the price fluctuations in Ethereum Classic at the start of 2022 crypto experts anticipate a $20.92 average ETC price in November 2022. The lowest and highest expected prices are $18.93, and $21.52, respectively.
Wallet Investor predicts a December average price of $17.527, with minimum and maximum prices at $3.636 and $32.936.
Ethereum Classic Price Forecast 2025
Changelly’s cryptocurrency experts have examined the fluctuations in Ethereum Classic prices over recent years. The minimum ETC price in 2025 will be $61.96, and the maximum price $73.63. Trading will cost $64.17 on average.
Crypto Ground’s algorithmic analysis and forecast predict that the Ethereum Classic (ETC), Coin price will hover around $81.3212 by 2025.
TradingBeast and PricePrediction.net predict that Ethereum Classic will grow in 2025 with prices of $27.232 and $38.581 by the end. This theory is supported by other price predictions for Ethereum Classic: According to Wallet Investor Ethereum Classic will reach $36.356 in December 2025.
Ethereum Classic Price Forecast 2030
SwapSpace claims that most experts see a bright future in Ethereum Classic. Long-term forecasts for Ethereum Classic prices predict significant growth up to 2030. PricePrediction.net predicts a $21.16 price, while Wallet Investor projects a $23.552 price. TradingBeast is bullish for Ethereum Classic long-term. It projects Ethereum Classic to reach $55.17083 by 2030.
Crypto NewsZ claims that the market will experience a new era of adoption and better use cases. The minimum Ethereum price could rise to 176.16 US Dollars by 2030, with an average Ethereum price of 180 US$. The Ethereum Classic ETC maximum price should be approximately 195 US Dollars, which is significantly more than the current price. If this trend continues, the future circulating supply price could be different from the current price.
FAQs
Where can I purchase ETC?
Binance, Coinbase, Etoro, OKEx and Huobi Global are all trusted cryptocurrency exchanges. ETC tokens and Ethereum Classic market status can be purchased on some exchanges using a credit card. ETC can be traded directly on many exchanges against fiat currencies like USD, EUR and GBP, as well other cryptocurrencies. ETC’s Block Rewards program is also available to investors. You can therefore either buy or trade Ethereum Classic.
Is ETC on the verge of extinction?
Although it is impossible to predict what the future will bring, Ethereum Classic offers some advantages. It is one of the most established cryptocurrencies having been launched in 2016. It has a large developer community and supporters. Ethereum Classic has had its share of problems. It has a smaller market capitalization than other major cryptocurrencies and lacks many of the features that made Ethereum so popular. However, Ethereum Classic is still a viable alternative for both investors and users who are looking for Ethereum alternatives.
The long-awaited switch from Ethereum to a new transaction verification algorithm (The Merge), is currently in progress. This is why Ethereum Classic has a higher price. ETC could see a significant rise in price as miners are forced to search for new coins. ETC seems like a good choice.
It will take time to see if Ethereum Classic can survive and prosper over the long-term.
Bank Directory information, including the Ethereum Classic price prediction, is not intended to be used as investment advice. It should not be used as a replacement for the advice of a certified financial advisor. Before you decide to buy Ethereum Classic, we recommend that your research be done.
Ethereum Classic vs Ethereum which is better?
Both have their advantages and disadvantages, so this cannot be debated. Ethereum Classic can be used with smart contracts and dApps. Ethereum Classic has greater investor support and the ETC blockchain’s overall functionality is better. Both are part of the most important cryptocurrencies in crypto.
