Coinbase adding Ethereum Classic was one of the good things that happened to the ETC token last year. The Coinbase Ethereum Classic listing happened during the bear market last year so it proved that even if the price of cryptocurrencies were falling against the USD, Coinbase had a lot of faith in the Ethereum Classic (ETC) token and it sees its potential. This, among other things, influenced the Ethereum Classic prediction for the year. The Ethereum Classic prediction on Live Bitcoin News, shows that the ETC token is here to stay.
Ethereum Classic News Today – Ethereum Classic Prediction – Ethereum Classic (ETC) Will Rise Again
Coinbase adding Ethereum Classic last year ignited the Coinbase effect when the announcement was made and not when the token was listed. What this means is that when Coinbase initially announced that it was making plans to list Ethereum Classic, the price of Ethereum Classic surged significantly against the USD amid a bear market. However, when Coinbase finally added the ETC token, the bearish pressure in the market was so strong that there was little or no effect of the listing.
At the beginning of the year, the Ethereum Classic prediction was a little bleak following the 51% power consolidation attack on the network. Many people predicted that Ethereum Classic wasn’t going to survive the attack. However, the network and the ETC token have been resilient so far. During the recent Bitcoin bull run when the price of Bitcoin crossed the $5000 level, Ethereum Classic started moving higher against the USD. Some experts, at the time, suggested that the spike the the price of cryptocurrencies was part of a pump and dump scheme. A managing partners at Kenetic, Kegan Chu had this to say about the spike in the price of Ethereum Classic during the Bitcoin bull rally;
“The recent price surge across a range of left-behind tokens such as Ethereum Classic demonstrates that the smaller crypto markets are still emotionally driven. The fervor and froth whipped up in these communities quickly become significant price waves. On the other hand, when these waves crash, they’ll inevitably leave some bodies on the rocks. It’s no secret that ETC technical development lags behind many other protocols, but perhaps the price move may reignite interest beyond token speculation into real long-term project growth.”
Ethereum Classic Prediction Today – Ethereum Classic Price Prediction 2019 – Ethereum Classic Price Analysis
At the time of writing, the price of Ethereum Classic was falling against the USD just like the price of Bitcoin and almost every other cryptocurrency. On CoinMarketCap, Ethereum Classic was trading at $6.19. It is down by 6.54% against the USD and down by 3.56% against BTC. The trading volume over a 24 hour period is $533,398,102 and the market capitalization is $678,422,336.
Ethereum Classic (ETC) Price Today – ETC / USD
Even if the price of Ethereum Classic is red against the USD, it is going to recover as long as it stays above the support at $6.0. As soon as the bulls gather enough momentum, Ethereum Classic (ETC) may move as high as $10.
On the 9th of April, Poloniex, a Circle-owed exchange, announced that Ethereum Classic is now available for lending. Users who need ETC loans can apply and pay back with interest. This will give the Ethereum Classic price an extra boost.
What do you think about the Ethereum Classic prediction? Will the price of Ethereum Classic hit $10 according to the Ethereum Classic news today? Share your thoughts in the comment section.