Ethereum Classic Price Prediction: Does Ethereum Classic Have a Future?
Wanna get a free genesis NFT and cashback for ETC swaps?
Table of Contents
Ethereum Classic Fundamental Analysis
Ethereum Classic (ETC) is a native token on the eponymous network, which came into existence in 2016 as a result of a hard fork on the Ethereum (ETH) blockchain network. Ethereum Classic’s use case is therefore the same as ETH — to serve as a smart contract platform, and the ETC token’s purpose is powering this network.
The circumstances of the Ethereum Classic’s birth are quite controversial. The idea of Ethereum's hard fork is rooted in the Ethereum DAO hack which occurred in 2016. This event resulted in a loss of more than 11 million ETH ($50 million at the time) by DAO investors. The stolen tokens were eventually found, and this prompted a bitter fight within the Ethereum community about the best way to deal with the consequences.
One group thought that the funds should be returned to the original holders, while another argued that this would be against the blockchain philosophy, which dictates absolute immutability. So, in this second group's opinion, since the transfer was committed to the chain, it has to stay that way, even if it was fraudulent. The first group won the vote, and Ethereum was hard forked, with the original chain becoming Ethereum Classic.
Ethereum network has remained the bigger of the two, but Ethereum Classic has enjoyed some success too — for example, ETC fees are lower than ETH, which is a plus for many. ETC went through a rough patch in 2020, when the network was hit by several 51% attacks, but it managed to recover in 2021. Ethereum Classic forecasts mostly predict this recovery lasting for a while.
Ethereum Classic Live Price Chart
In the first half of 2021, Ethereum Classic joined the rally that most of the cryptocurrency market went through. Its price grew quickly from ~$5 just before the 2020’s end to ~$15 in February. By March, the ETC price had dropped into the ~$10–$12 zone, where it stayed until April. At that point, Ethereum Classic skyrocketed, reaching the all-time high of $176.16 in May.
ETC got through the May crash well enough. The lowest its price has been since May is $32.5, which it hit briefly in June. This may be compared to ~$10 seen just a few months ago, in March, when even the wildest ETC predictions couldn’t foresee such a great rebound. In late August ETC went through another rally, bringing the price above $60. This is reflected in the ETC forecasts, which are predominantly optimistic at the moment.
Ethereum Classic Technical Analysis
Since the beginning of May 2021 and until late July, Ethereum Classic was trading in a descending triangle pattern. Then, as the market turned bullish, ETC had its breakout, jumping off of the support zone at ~$35–$40 and climbing both in price and trading volume, reaching ~$63 by mid-August.
There are some concerns about the recent climb turning into a head-and-shoulders pattern, which can mean that the Ethereum Classic future price will be lower than one might expect. As things stand now, though, there are no obvious factors that might damage Ethereum Classic’s future value.
Ethereum Classic Price Prediction
Ethereum Classic Price Prediction for 2023
Ethereum Classic Price Prediction for 2024
Ethereum Classic Price Prediction for 2025
Ethereum Classic Price Prediction for 2026
Ethereum Classic Price Prediction for 2030
Summary
As it can be clear from the analysis cited above, Ethereum Classic (ETC) projections are rather contradictory. There is no universal consensus either about positive or negative future ETC price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Ethereum Classic projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
FAQ
How much will 1 Ethereum Classic be worth in 5 years?
In 5 years, 1 Ethereum Classic will be worth close to $235, according to some ETC price predictions for 2026. There are more Ethereum Classic price predictions for 2025, which are also positive, often putting ETC’s price above $150.
Why is Ethereum Classic a lot cheaper than Ethereum?
Several factors are making Ethereum Classic cheaper than Ethereum. Some of them can be attributed to the series of 51% attacks on the Ethereum Classic network, which unfortunately eroded some of the public trust in the project. Another big factor is the ETC’s lack of endorsement from the original Ethereum team.
Is it better to buy Ethereum or Ethereum Classic?
It’s hard to say whether it’s better to buy Ethereum or Ethereum Classic, as most of the crypto investments are volatile and inherently risky. From the public trust standpoint, Ethereum might be safer. However, ETH coin price predictions are still mostly good, which makes many people believe that Ethereum Classic is a good investment in 2021.
Should I invest in Ethereum Classic?
You should invest in Ethereum Classic if your risk tolerance is sufficiently high. Many investors prefer better-known cryptocurrencies like Bitcoin or Ethereum, but for investors looking to diversify their crypto portfolio, Ethereum Classic is a better choice than many others.
Is Ethereum Classic a better investment than Dogecoin?
Yes, Ethereum Classic is probably a better investment than Dogecoin, at least in the long-term perspective. Since Dogecoin is essentially a meme coin, its price is very dependent on the whims of the public: memes get forgotten. Ethereum Classic, on the other hand, has some valid fundamentals behind it, which probably makes price predictions of Ethereum Classic at least somewhat grounded in the laws of the market.
Why did Ethereum and Ethereum Classic split?
Ethereum and Ethereum Classic have split over the differences of opinion regarding the return of the tokens to the Ethereum DAO investors after the 2016 DAO hack. While the tokens had been recovered, one part of the community decided that amending blockchain to return the funds is against the principles of blockchain. This led to Ethereum splitting off in a hard fork, while Ethereum Classic retained an unchanged version of the chain.
What is the difference between Ethereum and Ethereum Classic?
The difference between Ethereum and Ethereum Classic is in the more strict adherence of the latter to the “original” blockchain rules. ETC supporters think that the entries on the chain must not be amended in any circumstances. Another big point is that ETC has been following in Bitcoin’s footsteps more than Ethereum’s, as it’s the original crypto. There are Ethereum Classic halvings and a hard cap, as opposed to Ethereum which does not have them. Also, Ethereum is going to move to Proof-of-Stake consensus protocol soon, while ETC's developers didn't make such announcements. Note that ETC is developed by various decentralized teams — there is no Ethereum Classic Foundation to manage it all.
