To understand the Ethereum Classic price prediction, we need to understand its origin. Some crypto enthusiasts still get confused when it comes to identifying the difference between Ethereum Classic (ETC) and Ethereum (ETH).
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Ethereum Classic is a hard fork of Ethereum that was launched in July of 2016. The main function of Ethereum Classic is to serve as a smart contract network that holds the ability to host as well as support decentralized applications (DApps). Ever since Ethereum Classic was launched, it has gradually distanced itself from its affiliate Ethereum after the major hacking event that had 3.6 million ETH stolen.
Since Ethereum Classic came into being as a means of protecting the integrity of Ethereum, it’s the legacy chain of Ethereum, and, therefore, the original developers of Ethereum are the developers of Ethereum Classic. All the same, this Ethereum classic price prediction exposes everything regarding the coin’s previous performance and future expectations.
Ethereum Classic Price Prediction | Introduction
The price of Ethereum capital as of March 10, 2022, was $26.64, with a 24-hour trading volume of $423,620,193. Currently, it ranks 34 on CoinMarketCap, with a market cap of $3,557,990,035. The current circulating supply of Ethereum classic is 133,150,552 ETC coins with a maximum supply of 210,700,000 ETC coins.
ETC holds a similar technical state to ETH, with the only difference being how DAO hack transactions will be handled. This article will take a deep dive into examining Ethereum’s Classic price prediction for the rest of the year as well as the coming year.
Ethereum Classic Price Prediction: Technical Analysis
Ever since the inception of Ethereum, there has been an upward trend in its price. The fluctuations in price that have been recorded in the past have been minor, and this has led to the bounce-back of the price of the Ethereum Classic coin. At the end of December 2021, the price of the Ethereum classic was on a rising trend.
However, there was a gradual fluctuation in the price at the start of January 2022. This fluctuation in price was later followed by a gradual drop in the price to what it is now.
Throughout this period, the price of Ethereum was not stable. There were several fluctuations throughout its rise before the price began to fall. However, the fall in price was not drastic, meaning that Ethereum still has the opportunity to increase in price. The rising tendency that was previously being exhibited by Ethereum classic is therefore still expected to continue.
Crypto enthusiasts should therefore consider Ethereum a valuable asset that has its price set up efficiently. The rise and fall that was experienced at the end of last year and at the beginning of this year only show a particular trend that will be exhibited all through the future.
Ethereum Classic Price Prediction: Market Opinions
Let’s see what market opinions have to say.
According to Gov.Capital Ethereum classic price prediction, the price for Ethereum Classic is expected to rise for the rest of February and the coming months of March. Gov Capital explains that Ethereum capital has been in an uptrend in the past year, and this tendency is likely to be maintained.
According to their custom algorithm based on deep learning, the price of Ethereum Classic will be at the best possible price of $ 27.08365 at the beginning of March. There will be several fluctuations in price all through March, closing the month at the best possible price of $28.68215.
Regarding the rest of the year, Gov Capital predicts that the upward price trend in price will likely increase as the months progress, even though there will be several fluctuations in price in between. At the end of the year 2022, the price of Ethereum will have gained momentum to a possible $44.49465.
Treading Beasts Ethereum classic price prediction has also looked at the previous prices of Ethereum Capital and come up with several ideas regarding its price in the future. For March, the price of Ethereum Classic is expected to reach $25.872 by the beginning of March 2022.
The expected maximum price is $32.340, while the minimum expected price is $21.991. For the rest of the year, the price of Ethereum will likely hit a maximum price of $27.013, a minimum price of $18.369 with an average price of $21.610 by the end of December this year.
|Month||Minimum Price||Maximum Price||Average Price||Change|
|April 2022||23.933||35.196||28.157||5.85 %|
|May 2022||23.841||35.060||28.048||5.44 %|
|June 2022||23.683||34.828||27.862||4.75 %|
|July 2022||23.464||34.505||27.604||3.78 %|
|August 2022||23.160||34.059||27.247||2.43 %|
|September 2022||22.767||33.481||26.785||0.69 %|
|October 2022||22.288||32.777||26.221||-1.42 %|
|November 2022||21.673||31.873||25.498||-4.14 %|
|December 2022||20.938||30.791||24.633||-7.40 %|
For the year 2023, the price of Ethereum Classic is expected to gradually record an increase all through the year, according to the prediction sequence of Trading Beasts. As of January next year, the price of Ethereum classic will have an average of $20.206 with a maximum price of $25.257 and a minimum price of $17.175. The year will end with an increase in the price to an average of $33.386, a maximum of $41.773, and a minimum of $28.378.
Long forecast offers a different opinion regarding the prices of Ethereum Classic when compared with the above sites. According to Long Forecast, the prices of Ethereum are not very promising for both the rest of the year 2022 and the year 2023.
For March, the prices have been predicted to drop to a new $24.81, while at the end of December, the price is expected to have dropped further to $12.44. Despite the uptrend that has been exhibited by Ethereum ever since its inception, Long Forecast goes on to insist that the prices for Ethereum Classic next year won’t be so different. It is estimated that the prices at the beginning of the year 2023 will be at a new low of $14.43, and it will close the year at $19.03.
Latest News and Happenings Concerning Ethereum Classic
Ethereum classic strives to stay ahead of its developments regarding alienating itself from the hacking event that left millions of Ethereum stolen. On a daily basis, Ethereum Classic is proving to be a perfectly suitable, trust-minimized, decentralized computing platform that will be able to launch NFTs, from the best NFT stocks to buy, DeFi, and other DAO projects. This is, in turn, pulling in more crypto enthusiasts that will, in turn, invest in Ethereum Classic.
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Ethereum Classic Price Prediction: Verdict
Ethereum Classic has its priorities in the right place as it aims to preserve the originality of the Ethereum blockchain without having to counter the DAO attack artificially. Ethereum Classic has no desire to convert the network into a profitable entity.
In that case, transaction fees within the platform are paid using Ethereum, and those mining Ethereum will collect them based on the amount of effort they put in (Proof of work) mining algorithm. Looking at the Ethereum Classic price predictions from various sites, it is safe to say that it has a lot of potentials currently and in the future.
The price of Ethereum Classic will most likely increase, which is a profitable deal for investors. Those wishing to reap the benefits of the Ethereum classic in the future should most likely invest in today.