Ethereum Classic price prediction | CoinCasso Exchange
Ethereum Classic Price Prediction Ing (2)

All sorts of new projects are earning investors huge returns. One project that might’ve caught your attention is Ethereum Classic (ETC). It’s already grown a ton this year and may have room to grow still.

But is investing in ETC a smart decision right now? What types of Ethereum Classic price predictions are analysts making?

Keep reading to find the latest Ethereum Classic price predictions and to see whether ETC is the right investment for you.

What is Ethereum Classic?

Ethereum Classic is a decentralized platform that runs smart contracts and the applications built on top of them. The idea is to create a network where censorship and third-party interference are non-existent.

Ethereum Classic is the continuation of the original Ethereum blockchain. Its core principle is the idea that blockchains should be immutable.

On top of this, the community also believes in the idea of decentralized governance. The community gets to decide how the project proceeds rather than a core team of developers.

To use the network, you need to have a cryptocurrency that’s also called Ethereum Classic (ETC). Users are charged a fee, which is paid in ETC each time that they interact with a smart contract on the network.

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How Does Ethereum Classic Differ from Ethereum?

Understanding Ethereum

Ethereum is the leading layer 1 smart contract platform in all of cryptocurrency. It provides a function that’s akin to what Windows does for computers or what Apple’s App Store does for mobile apps.

In other words, Ethereum is a platform that lets users access an endless number of crypto-backed decentralized applications.

One example of the type of value that Ethereum provides comes from the blossoming industry of decentralized finance (DeFi). Applications like Aave and MakerDAO enable folks to borrow and lend money without ever interacting with a centralized financial institution.

Non-fungible tokens (NFTs) have also gotten quite popular recently. They bring scarcity to the digital world, which hasn’t really been possible before now.

These are just a few of the things that Ethereum enables. The network is still in its early stages and it’s likely that there will be even more powerful use-cases for Ethereum that haven’t been invented yet.

How Ethereum Classic Differs

Ethereum Classic tries to address the same market that Ethereum does. It also wants to enable a decentralized web of applications for users to benefit from.

But Ethereum Classic simply doesn’t have the community that Ethereum does. There are monumentally fewer users of Ethereum Classic than there are of Ethereum. And there are very few developers on the platform.

At this point, the only real use of Ethereum Classic is as a speculative asset. Unless you plan on being one of the few people who use the actual network, you’re likely only going to want to buy ETC if you think you can sell it at a higher price later.

This statistic says it all: Ethereum has a market cap of around $300 billion while Ethereum Classic’s is around $7 billion.

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The History of Ethereum Classic

Ethereum Classic was created in June 2016. It’s a split, or hard fork, of the Ethereum blockchain. A very popular smart contract was infiltrated by hackers around that time.

The early users of Ethereum had deposited millions of dollars into the contract and hackers managed to steal them all. Rather than simply allow this to happen, the Ethereum development team decided to roll back Ethereum’s blockchain to return the funds to their rightful owners.

This is when Ethereum Classic emerged. It’s basically an alternative version of Ethereum in which the funds from this hack were never returned to their rightful owners.

Proponents of ETC believe strongly in the idea of blockchains being immutable. They disagreed with the decision to return the funds stolen by hackers because of the precedent that it sets.

There are some people who use the Ethereum Classic blockchain. A handful of developers have created projects on it that mirror what you’ll find on the Ethereum network.

However, the vast majority of both individual and institutional investors use the decentralized applications (dApps) that are available on Ethereum rather than ones available on Ethereum Classic.

Currently, ETC is primarily a speculative token. It doesn’t really offer real-world value in the same way that Ethereum and other layer 1 smart contract platforms do.

Is Ethereum Classic a Good Investment?

Before we dive into specific Ethereum Classic price predictions for Ethereum Classic, let’s take a broad look at whether this is an investment that’s worth making. To do that, we’ll consider the pros and the cons of investing in ETC.

Pros of Investing in ETC

So, what’s the bull case for Ethereum Classic? The chain has seen some interest from largescale institutional buyers like Grayscale. In fact, Grayscale currently offers an investment product called the Grayscale Ethereum Classic Trust.

When a large financial institution like Grayscale is investing in a cryptocurrency, that can be a sign that you should too. That being said, it’s also not usually a smart decision to blindly follow the trades that someone else makes — no matter how experienced they are.

ETC has also performed very well over the past year. According to GoinGecko’s Ethereum Classic chart, the token is up a little over 830% since a year ago today. That’s an incredible return.

Another pro of investing in ETC is a little harder to quantify with precision but is worth mentioning all the same.

Ethereum Classic benefits from a considerable online following with retail investors. Remember how Dogecoin took off before Elon Musk started tweeting about it? The same group that did that has helped to pump ETC quite a bit this market cycle.

So, to recap here are the pros of investing in ETC:

  • Excellent average performance over the past year
  • Buy-in from large institutional investors
  • Cult-like online following to spark rallies

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Cons of Investing in ETC

Now let’s look at the bear case for an ETC investment. What reasons are there not to invest in this token?

The biggest reason not to invest in ETC is that the token isn’t really useful at this point in time. Very few people use the platform relative to its competitors.

Sure, that could change in the future. But if that’s part of your investment thesis, you’re essentially betting on some unknown catalysis driving droves of people to Ethereum Classic. There’s not currently any reason why that would happen.

Opportunity cost is another big thing to consider. Ethereum Classic may be up around 830% on the year. But other cryptos offer much better use-cases and have delivered even better returns.

For example, Ethereum is up just over 1,000% on the year (and that’s after a crash wiped out about 40% of its highest value in this bull run). And it’s a platform that has an extremely bright future ahead of it.

Crypto is a unique space. During bull runs, just about any semi-relevant altcoin will deliver phenomenal returns. But when bear markets hit, these altcoins tend to die the hardest and fastest.

So ETC is also a riskier investment than things like Bitcoin and Ethereum. If you bought ETC and we entered the bear market tomorrow, you would lose much more of your wealth than you would if you had bought BTC or ETH.

ETC’s 2021 Price Action So Far

It’s been a really crazy year for Ethereum Classic so far. The token was trading between $5 and $7 until about February 2021, when it rose to $15.25.

After that, ETC had a few quiet months before getting all the way up to $38.27 in April.

Things really took off for the coin in May. It climbed all the way up to $136.38 before coming back down to a local low of $52.41 on May 23rd. ETC is currently sitting around this range waiting for its next major move.

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What Factors Can Impact ETC’s Price?

If you’re considering making an investment in Ethereum Classic, you should have a good understanding of what might impact the value of that investment before putting real wealth in the token.

So, what might cause ETC to go up or down?

The biggest thing is fluctuations in the crypto market as a whole. When things are going well, altcoins like ETC tend to pump higher. When BTC and ETH are losing value, ETC and other alts will lose value at a faster rate.

Actions taken by the government or coverage given by the media could also impact ETC’s price. But this can be really hard to predict and would likely impact all cryptocurrencies equally.

Ethereum Classic Price Prediction 2021

Ethereum Classic has already grown a ton in 2021. However, some Ethereum Classic price prediction 2021 models predict that there’s still room for the altcoin to grow.

For example, Wallet Investor is an algorithm-based forecasting site that suggests ETC will trade around $70 by the end of 2021. That means their Ethereum Classic price prediction 2021 represents a growth of about 18% from current levels.

Digitalcoin is another website that had made an Ethereum Classic Price prediction 2021. Their forecast is that ETC will reach nearly $100 by the end of 2021. That would be a growth rate of about 52%.

Ethereum Classic Price Prediction 2022

How much will ethereum Classic be worth in 2022?

Many analysts are expecting ETC to grow in 2022 as well. That’s good news for investors who are interested in holding this crypto long-term.

For example, CoinPriceForecast made an Ethereum Classic price prediction that has ETC reaching as high as $300 by the end of 2022. That would represent a massive return from current levels.

Other analysts are bearish on ETC long-term, though. For example, LongForecast has an Ethereum Classic price prediction that puts ETC at around $62 at the end of 2022. That’s quite a far cry from $300.

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Ethereum Classic Price Prediction 2023

Most online crypto analysts actually see ETC dropping in price a bit by 2023. This makes sense when you think about the current state of the crypto market as a whole.

Generally, cryptocurrency bull runs only last a few years before the market resets itself into a bear market. By the end of 2023, we should be done with the current bull run that we’re on while also being a little ways away from starting the next one.

DigitalCoinPrice has an Ethereum Classic price prediction for 2023 that says ETC can reach as high as $120.08 in 2023. But TradingBeasts says that the token will only reach as high as $108 at most.

Ethereum Classic Price Prediction 2024

Many analysts see Ethereum Classic continuing to climb in value in 2024. But the exact dollar amount that this crypto will be worth vary from forecast to forecast.

For example, TradingBeasts has an Ethereum Classic price prediction that has Ethereum Classic reaching as high as $191.184 in 2024. But LongForecast envisions ETC climbing to somewhere around $237 to $304 in 2024.

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Ethereum Classic Price Prediction 2025

DigitalCoinPrice expects ETC to reach $257 in 2025, which is great news for bullish investors.

However, Long Forecast is bearish about the prospects of Ethereum Classic this far out into the future. Their Ethereum Classic price prediction says that ETC will only be worth around $80 each in 2025.

What Will Ethereum Classic Be Worth Between 2025 and 2030?

It’s a bit difficult to make accurate predictions this far out given the extreme volatility of crypto. However, some analysts are giving it their best shot.

For example, CoinPriceForecast has an Ethereum Classic price prediction that has ETC reaching $590 by 2027 and then $799.69 by the end of 2030.

Gov Capital has only made a prediction for ETC in 2025. They see the token reaching around $148 by that point.

Long Forecast doesn’t appear to like the long-term prospects of Ethereum Classic. Their long-term Ethereum Classic price prediction has the token falling as low as $28.90 by mid-2025.

Is It Better to Hold ETC Long or Short?

When you make an investment in crypto, it’s always important to do your research and have a thesis. That way you’ll know exactly when your reason for making the investment has been confirmed or refuted.

So, what’s a good investment thesis for ETC? Should you be holding this token for the long haul? Or is it better to try and make a profit in the short term with Ethereum Classic?

In most portfolios, ETC shouldn’t be a long-term investment. That’s because the crypto marker goes through extreme periods of volatility. And many of the altcoins that pump to new heights in one cycle don’t even survive to reach the next.

So we can’t take ETC’s average performance in this cycle as evidence that it will continue performing at the same level in the future.

The other thing that you need to keep in mind is that Ethereum Classic doesn’t have much real-world utility right now. People just aren’t using the network because Ethereum is a much better alternative.

The only real reason to make ETC a part of your portfolio is speculation. And speculative assets generally aren’t great to hold long-term unless they also have a real-world use case that you ardently believe in.

The Bottom Line: Should You Invest in Ethereum Classic?

We’ve covered the history of ETC, how it differs from Ethereum, and why people invest in it. We’ve also taken a look at Ethereum Classic price predictions for ETC over the next decade.

Now it’s time to evaluate the bottom line. Should you be investing in Ethereum Classic or not?

The answer to this question depends on when you’re asking it in relation to the broader cryptocurrency market cycle.

The best time to invest in ETC is during an established bull run after Bitcoin and other large-cap coins have already gotten the chance to pump to new highs. This cool-off period is typically when altcoins like Ethereum Classic will push to new highs themselves.

But you probably don’t want to invest in ETC if we’re in a bear market. Or if a crypto bull market is starting to look like it’s going to turn into a bear market. That’s because the Ethereum Classic price will fall much faster than its more established counterparts since it’s an altcoin.

If you’re thinking about investing in ETC, remember that it doesn’t have a ton of real-world utility. That means you can’t count on it being around the next market cycle so you need to choose the timing of your investment carefully.

Alternative Investment Ideas

Maybe after reading this piece, you’ve come to the conclusion that Ethereum Classic isn’t the right crypto investment for you. If so, CoinCasso has a few Ethereum Classic alternatives for you to consider.

Ethereum

Making an investment in Ethereum is the most natural alternative to investing in Ethereum Classic. It’s essentially everything that ETC is trying to be but with tons of users and hundreds of dApps.

Ethereum is more expensive than ETC but don’t let that dissuade you. The money that you put in will grow at the same rate that ETH does even if you can’t own a whole coin right away.

And if you compare ETH’s growth to the Ethereum Classic price in 10 years, you’ll likely be happy with your decision to invest in this project.

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Bitcoin

Bitcoin is the gold standard in cryptocurrency. Its price fluctuations are what drive the entire cryptocurrency market. And an increasing number of institutional investors are starting to allocate some of their portfolios in BTC.

Bitcoin is a token that definitely needs to be in your portfolio if you’re going to allocate some of your assets to crypto.

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Chainlink

Chainlink is a fascinating altcoin with a massive amount of potential. It’s what smart contract platforms like Ethereum use to access real-world data on the blockchain.

This functionality is essential to the most popular dApps in existence. Without Chainlink or a token like it, platforms like Aave, MakerDAO, and Uniswap wouldn’t be able to function like they do today.

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