Ever since the news that Ethereum Classic is on Coinbase hit the cryptocurrency space a few months ago, the Ethereum Classic (ETC) token has gained more credibility among digital asset investors. Long before the Ethereum Classic on Coinbase listing, traders anticipated that the Coinbase effect will cause the price of Ethereum Classic to surge higher. Unfortunately, the bear pressure in the market was too much at the time and the Ethereum Classic prediction didn’t come to past. Recently, the price of ETC in every Ethereum Classic news has been positive just like the price of ETH, BTC and others.
Ethereum Classic Prediction: Ethereum Classic Almost Crossed $6 During The Bitcoin Bull Run
Yesterday, as the Bitcoin bull run started, the price of Ethereum classic started moving higher against the USD. It was able to test a strong resistance which it turned to support and it was up by 4% by the end of trading yesterday. If the bull rally had continued, the price of Ethereum Classic would have reached the $6 level and this would have paved a way for more upward movement. Right now, the price of Ethereum Classic (ETC) is correcting lower against the USD.
Ethereum Classic (ETC) Price Today – ETC / USD
At the time of writing, the price of Ethereum Classic (ETC) was $4.79. This shows that it is down by 1.33% against the USD and down by 1.52% against BTC. The 24-hour trading volume is $164,343,948 and the market capitalization is $523,753,288 according to CoinMarketcap.com. If the price action of cryptocurrencies becomes bullish again, the price of ETC will have enough momentum to surge to the $6 level.
How Have Developments In The Ethereum Classic Community Affected The Price of ETC
The cryptocurrency and blockchain industry is still new. So far, every project has suffered a share of criticism. This includes the Ethereum Classic network. Not too long ago, there was a 50% power consolidation attack on Ethereum Classic. This was discouraging but it did not stop investors from believing in the Ethereum Classic project. Traders are still buying, selling and holding Ethereum Classic (ETC) app developers are still working on the blockchain as well.
The Ethereum Classic Cooperative team has also had a rocky few months. Anthony Lusardi recently announced that he was leaving the project. This announcement did not affect the price of the ETC token. Many other negative developments that occurred recently have not affected the price of the Ethereum Classic token negatively. This shows that unlike many other cryptocurrency communities, the Ethereum Classic community is made up of traders who aren’t moved by sentiment. Most of them are true believers who aren’t just interested in making a profit but have faith in the future of Ethereum Classic.
Compared to many other projects, Ethereum Classic is still in the early stages of development. This is why its resilience over time is a good sign. The Ethereum Classic prediction is bright. Things are looking up for the project and it’s only a matter of time until it finds its way to the top five.
What do you think about the Ethereum Classic news and Ethereum Classic price prediction today? Share your thoughts below.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.