Ethereum Classic (ETC) Proves Its Worth by Significantly Recovering from The Recent 51% Attack

After trading in the red all through yesterday, almost all the top twenty digital currencies in the market are now in the green. This shows that digital currencies still have some traction to amass more gains after the recent crypto bull run. While the search for the best cryptocurrency to invest in 2019 is on the rise, more altcoins are beginning to prove their worth. Bitcoin – which is the largest digital currency by market cap – is gradually losing its dominance to altcoins. Bitcoin dominance is now down to about 50 percent, and the dominance of more altcoins are increasing.

One digital currency that has continued to prove its worth in the crypto space is Ethereum Classic. Ethereum Classic is one of the most notable digital currencies in the crypto space. Ethereum Classic news and Ethereum Classic price prediction has been keeping the coin going. Another major boost the digital currency has is the Coinbase Ethereum Classic listing. Coinbase Ethereum Classic was huge, and this significantly boosted the price of Ethereum Classic. Will crypto ever recover?

Ethereum Classic 51% Attack – Will Crypto Ever Recover?

Ethereum Classic recently experienced a 51% attack. This attack took place in January this year. A 51% attack is when an agent gets control of more than 50 percent of the network and control malicious transactions. On the 7th of January, the hackers rolled back transactions for four hours and stole 54,000 Ethereum Classic tokens, worth over $300k.

Even after such a massive loss, the community of Ethereum Classic still have some strength and faith in the digital currency. Else, the sharp recovery seen in Ethereum Classic price would not have been possible. Ethereum Classic has remained firm and the digital currency is gradually proving its worth in the crypto space. Is Ethereum Classic the best cryptocurrency to invest 2019? Will crypto ever recover? Ethereum Classic price trend has shown that cryptocurrencies are here to stay.

Ethereum Classic Atlantis Update – Is Ethereum Classic the Best Cryptocurrency to Invest 2019?

Another catalyst that contributed to the massive recovery of Ethereum Classic price is the forthcoming Atlantis Update. There are speculations that the Atlantis update is just by the corner. Nevertheless, the update is likely to take place in September this year on the block #8,750,000. The update will greatly enhance the Ethereum Classic network. One of the most significant improvement is that it will make Ethereum Classic easier to run. It will also make it much easier for Ethereum Classic Dapp developers to access smart contracts.

Ethereum Classic Price prediction 2019 – Ethereum Classic Price Analysis

Ethereum Classic price saw a little downtrend this week. The price of Ethereum Classic surged higher and tested a high of $8. Nevertheless, the bears acted on the coin it started plunging lower. The price of Ethereum Classic plunged to the low of $6.30 and the 12-day exponential moving average. Ethereum Classic price today is over the 12-day and 26-day exponential moving average; this shows that ETC price is likely to surge higher soon.

The price of ETC is currently facing resistance at the $7 mark. A break over the level will pave the way for more gains towards the $8 level and beyond. The short-term Ethereum Classic price prediction 2019 is $10. Many analysts believe ETC price will test that level in the coming weeks.

Ethereum Classic (ETC) Price Today – ETC / USD

NamePrice
bitcoin
Bitcoin
$7,214.61-3.03%
ethereum-classic
Ethereum Classic
$3.74-1.98%

At the time of writing, the price of Ethereum Classic is $6.45 after an increase of about five percent over the past twenty-four hours. The current market cap of the digital currency is $698.80 million. The trading volume of the digital currency over the past day is $448.94 million.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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