Price Analysis

Ethereum Classic on its Way to Increase its Value Gradually

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The classic version of Ethereum is Ethereum Classic. It is a smarter blockchain, a community, a network and a cryptocurrency that has the capacity to take digital assets further. Besides allowing people to send the value to each other, ETC also provides an apt platform for making complex contracts that can be operated autonomously and this is totally uncensored. ETC is popularly known for its open and welcoming community, and it also has a long history of reliable operations which act as a key factor of evolving interests among the investors to consider investing in this cryptocurrency.

Current stature of ETC at a glance

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  • ETC is currently traded at $4.82 USD (UTC 08:39) with market rank 18 among all the cryptocurrencies that are currently getting circulated in the crypto world.
  • Currently, 108,387,263 ETC are circulating with the market cap of $522,104,579 USD.
  • Considering yesterday’s price of ETC which was $4.24, it is seen that still, a bullish trend is persisting which is good for regaining back the value of this cryptocurrency.

Price analysis of ETC on the basis of Ethereum Classic chart

Ethereum classic chart

On the basis of the above ETC chart, it is seen that the current value of ETC is 4.83 USD or 0.00122518 BTC (UTC 08:48). Its market cap is currently trading at 523,830,858 USD. The current 24h volume of ETC is 339,518,253 USD. So, if we consider the current price of ETC to its price on January 31, 2019, which was $4.01, we can say that within this period of approximately one month, the value of ETC has spiked up by 20.44%. This indicates that the ETC community can hope for positive in the upcoming days regarding regaining values of ETC and thus, influencing traders to invest in this crypto.

Future price predictions of ETC

As per the predictions of cryptoanalysts, the predicted value of ETC is expected to reach $34.252 by the end of 2019. This indicates that approximately there can be an increase in ETC value by 618.72%. The analysts also assumed that by 2023, the value of ETC could be expected to stand at $114,842. So, from their predictions, it is evident to some extent that in spite of immense volatility of ETC, there can be some good news for the keen investors of ETC by the end of this year. As two days earlier also, a strong bearish trend persisted, right now, it will be risky to make any assurance about getting high returns if one invests on this crypto. The situation will change by the end of this year so, remaining vigilant about the extent of the volatility of this crypto can help traders making the right decision at the right time.

Summing up

Ethereum Classic is gradually getting on a bullish trend with current resistance of $4.83. This positive move towards price hike of this crypto can prove to be fruitful in regaining its own value in the upcoming days. It is better for the traders and investors to remain aware of the fluctuations of this 5th largest crypto so that they can take the right decision of investing in ETC in a timely manner.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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