The rebound in the largest cryptocurrencies by market cap shows that the asset class has recovered from some of the major setbacks over the past two weeks. Ethereum Classic (CCC:ETC-USD) is a favorite among investors. Considered cheaper ether (CCC:ETH-USD), ETC is one of the biggest winners today. But what do the Ethereum Classic (ETC) price predictions suggest in terms of value?
Ethereum Classic is a fork of Ethereum that originated in 2016. The ETC coin offers more security over its ancestor Ethereum and sacrifices the huge efficiency improvements Ethereum received from the 2.0 overhaul. It has depreciated in value over the past four years.
But lately it has gotten a boost from investors looking for a “cheaper Ethereum”.
Ethereum’s success in recent months has left investors desperate for the next crypto to blow after missing the bus on the original.
The “Ethereum Plus” crypto class now includes the many forks of ETH as well as complementary chains such as Polygon (CCC:MATIC-USD) who try to fix problems within the original ETH ecosystem.
Ethereum Classic (ETC) Price Predictions: Can ETC Maintain Its Momentum?
Ethereum Classic is one of the games that investors are betting on due to Ethereum’s popularity. As a result, it was quickly propelled to an all-time high of $ 176 before last week’s crash. Today it is on the mend and is gaining over 30% over the course of the day. Coins are exchanged for $ 77.44. Thanks to the interest in Ethereum Plus games, the trading volume is also increasing. The volume increased by almost 50% on the day.
Will Ethereum Classic keep the momentum of the investor frenzy? Can it hit that all-time high of $ 176 again? Let’s see what analysts predict:
- The Economy Forecast Agency is only slightly optimistic about ETC. The outlet is forecasting highs of $ 97 this year for the coin before finally closing at $ 94.60 in 2021.
- DigitalCoinPrice is another ETC bull, but they’re not seeing the coin hit its all-time high of nearly $ 200. They predict that ETC will climb to $ 120 by the end of the year.
- Against the uptrend are some bears forecasting losses by May next. WalletInvestor and Gov Capital have both released their 12 month projections and are not looking good for ETC. Forecasts from both outlets for May 2022 indicate a price of $ 66.
At time of publication Brenden Rearick had positions (neither directly nor indirectly) in the securities referred to in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s posting guidelines.
Article printed by InvestorPlace Media, https://investorplace.com/2021/05/ethereum-classic-etc-price-predictions-how-far-can-etc-go-after-the-crypto-crash/.
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