Are There Any Hopes Yet Regarding Investment on Ethereum Classic?

Ethereum Classic has its ancestor as Ethereum. In contrast to the basic Ethereum, Ethereum Classic has been built on a more solid foundation with added layers of security, and due to its high volatility, this crypto gains much worldwide attraction from the investors. On the basis of its market cap, it is the 5th largest cryptocurrency in the world. It allows us to make smart contracts on the basis of some specific conditions and without any interference of the third parties. Since the past year, the price of Ethereum has been lowering at a rapid rate due to which the question “Are there any hopes yet regarding investment on ETC” is now quite obvious.

Current stature of ETC at one glance

  • ETC is currently in 18th position in the Cryptocurrency market.
  • It is currently getting traded at $4.11 USD.
  • Its market cap as of now is $445,291,643 USD with 24h volume of $200,027,237 USD.

Price analysis with Ethereum Classic chart

On the basis of the Ethereum classic chart, it is evident that the current price of ETC is $4.11 or 0.00113170 BTC. Its market cap is trading at 445,400,929 USD with 24h volume set at 199,949,641 USD (UTC time 5:56). Now, as one will analyze its current price to its earlier price keeping an approximate difference of 1 month, one will see that on 28th Jan 2019,
the price of ETC had reached a maximum high of $4.24 but otherwise to that, on the same day, it had even turned down as low as $3.88; so the price of ETC has lowered by -3.06%. On February 11, the price of ETC slightly shoot up to $4.11, and this resistance has provided good support, so far price fluctuations of ETC are concerned.

Future price predictions by the above analysis

From the above observations, it is quite apprehensible that still now, there are no such positive hopes which can assure investors of making a handsome return by investing in this cryptocurrency. If traders are looking for virtual currencies with a high amount of profits, they should not include ETC in their list as this can be a high-risk 1-year investment option. Its current resistance is equal to $4.11 (UTC 6:11) but, this can be devalued in the future. As per the current analysis of the cryptoanalysts, the price of ETC can even drop down below $4.11. The predicted change will be -93.382%. This makes it evident enough that in the upcoming days there are no such possibilities of ETC price getting hiked up. So, the depressive condition of ETC price has remained the same throughout last month, and it will persist in the upcoming days as well.

Summing up

In spite of being the classic version of Ethereum with more apt security and technology, the volatility of this cryptocurrency has left no bounds in incurring loses to its developers. Since last year till now, there is no remarkable price hike of this crypto, but it has successively reduced to as low as $3.88 and even lower than that in the last one month. Even, the cryptoanalysts have assumed that there are no positive hopes which can regain trust among the investors regarding considering investing in this crypto.

About author


Earl Davison is a cryptocurrency enthusiast and believer. He has Master's degree in Economics and he is completely dedicated in analysis in cryptocurrencies since 2014. He leads our writers team to achieve user oriented content regarding cryptocurrencies and blockchain. He's also a crypto-trader.

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