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Ethereum Classic Prediction 2021 – Will ETC Price Reach $150, By End of 2021!

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Ethereum Classic is an open-source, decentralized, blockchain-based cryptocurrency which runs on smart contracts. Based on the principle ‘Code is Law’ ETC emerged as a split version of Ethereum blockchain as a result of a hack.

In this article, let us try to know some basic information regarding ETC and find out the Ethereum Classic price prediction for 2021 and beyond. At the end, you will have a clear outlook on ETC Price, whether it is a good investment.

Table of contents

  • Overview
    • Ethereum Classic Fundamental Analysis
    • Ethereum Classic Price Prediction 2021
    • Ethereum Classic Price Prediction 2022
    • Price Prediction For The Next 5 Years
    • Market Prediction For Ethereum Classic
      • TradingBeasts
      • LongForcast
      • DigitalCoinPrice
      • Our Price Prediction
    • Historical Market Sentiments
      • 2016
      • 2017
      • 2018
      • 2019
      • 2020
    • FAQ

Overview

Cryptocurrency Ethereum Classic
Token ETC
Price $ 116.1600
Market cap $ 14,776,176,541.0000
Circulating Supply $ 127,235,372.2551
Trading Volume  $ 14,643,367,906.0000
All time high $ 167.0900     May 6, 2021
All time low $ 0.6150     July 25, 2016

Ethereum Classic Fundamental Analysis

Ethereum Classic is the basic Ethereum token, created on the smart contracts system, which appeared in 2015. It was designed to help the developers to operate the application effortlessly, with heightened security.

Originally, Ethereum is the hard fork of Ethereum Classic which was officially launched in July 2016. It has the ability to host and support decentralized applications. The main aim of Ethereum classic is to conserve the Ethereum blockchain.

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Ethereum Classic was developed by Vitalik Buterin and Gavin Wood. One of the main features of ETC is, anyone can participate in its global development community. Transaction fee is collected by the miners based on the work. It runs on a proof-of-work mining algorithm.

Also Read: Chainlink Price Prediction 2021, Will LINK Price Hit $100 By 2021?

Ethereum Classic Price Prediction 2021

ETC trading at the start of 2021 began with the trading price of $5.70. Further the price kept on surging and eventually entered a massive uptrend phase in the first week of April. The price rose like a giant and surpassed $50 in the beginning of May and also surpassed $100 within a couple of days.

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Maintaining the bullish rally, the price is eventually expected to cross $150 in coming days. And if the bull run gets accelerated the price may also reach $200. On the contrary, if the price slashes, the price may retest the levels around $100 or below.

Ethereum Classic Price Prediction 2022

After a pretty good trade year 2021, the ETC price may start the yearly trade above $150 levels and eventually keep on surging until it breaks $200. The price is expected to trade above $250 by the mid of 2022 and surge above $300 by the end of 2022. However, an accelerated rally may lead the price to jump above $350 to $380.

Price Prediction For The Next 5 Years

The ETC price is expected to rally hard and eventually hit the highest levels above $450 by the mid of 2023. However, the price is expected to flip and fall into a bearish trap, declining the prices further.

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The price is expected to keep on varying including pumps and dumps which may even lead the price slash below $200. But on the contrary if the price regains the bullish momentum, the price may end up trading in between $350 to $400 by the end of 2025.

Market Prediction For Ethereum Classic 

TradingBeasts

TradingBeasts.com predicts ETC might reach $120.687 by the end of 2021 and $191.184 by the end of 2024.

LongForcast

Longforecast.com predicts that ETC might end the year 2021 trading in between $494 and $613. By the end of 2024, the price may trade around $237 to $304 and by the mid of 2025, the price may trade in between $225 to $279.

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DigitalCoinPrice

According to DigitalCoinPrice, Ethereum classic may trade at an average of $209.35 by the end of 2021 and $359.94 by the end of 2025.

Our Price Prediction

Considering the historical price movements and the recent change in the price, the ETC price is expected to trade around $150 to $180 by the end of 2021. However, keeping the bullish momentum intact, the ETC price is expected to reach above $300 to $350 by the end of 2025.

Also Read: Binance Coin Price Prediction, Will the Price Rally to $1000 in 2021?

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Historical Market Sentiments

2016

Ethereum classic started its journey with the trading price of $0.66. The price drastically surged to $2.14 by the end of July. With certain price variations ETC managed to trade at $1.38 at the end of 2016.

2017

ETC continued to trade at $1.40 by early January. The price steadily started to rise and dramatically the price hit $22.34 by mid of June and started to drop further. The price dropped around $10 by September and ETC started to surge further. However, ETC surged further and  recorded its All-Time-High by reaching $47.77 by the mid December and later plunged to $26.93 to end the trade of 2017.

2018

ETC initiated 2019 trade at $41.70 and further plunged to $19.75 by early February. Later the price surged to $41.79 in February as bulls held the market. Further the price initiated a downward move and arrived at $14.13 by April. ETC managed to be in the range between $12 and $16 until December. Later the crypto market crash led to the decline in the price of ETC as well as other altcoins. At the end of 2018, ETC was trading around the $5 mark.

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2019

ETC managed to trade at the range between $3 and $7 throughout the year.

2020

During the start of 2020, ETC was trading at $4.86. Progressively, the price managed to reach the $11 mark by early February and further plunged to $5 by the end of March. The price continued to be stable throughout the year with certain variations. At the end of 2020, ETC traded at $5.66.

FAQ

What will ETC be worth in 2021?
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By 2021, ETC is expected to reach $150.52.

Is it profitable to invest in Ethereum Classic?

Yes. The long-term earning potential is quite high.

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What is the difference between Ethereum and Ethereum Classic?

Ethereum runs on Proof of Stake consensus algorithm and Ethereum Classic works with smart contracts and Decentralized Apps.

Where to trade ETC?
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ETC can be traded at the popular exchanges like Binance, OKEx, HitBTC, Upbit and many more.

 

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Ethereum

Ethereum’s Second-Largest Mining Pool to Shut Down on Sept 30 Amid China Regulatory Pressure

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The Chinese crackdown on the cryptocurrency industry has taken another victim – this time, the Ethereum mining pool Sparkpool.

The second-largest ETH mining pool – Sparkpool – has announced that it has halted access to new users in Mainland China. Furthermore, the organization plans to abandon all of its services as of September 30th.

  • Based in Hangzhou, China, Sparkpool is the second-largest Ethereum mining pool responsible for more than 20% of the total hash rate, as the picture below demonstrates.
Ethereum Hash Rate Distribution. Source: Etherscan
Ethereum Hash Rate Distribution. Source: Etherscan
  • However, the company plans to seize all operations due to the most recent Chinese crackdown. The announcement published earlier this week reads that it has suspended access to new users who are located in Mainland China as of September 24th.
  • This part might be expected to a large extent because of the nation’s openly hostile stance against the cryptocurrency industry. The latest news coming from the country indicated that all digital asset trading is banned.
  • This forced Huobi, one of the largest cryptocurrency exchanges, to stop providing any of its services to Chinese users.
  • However, Sparkpool has decided to take it a step further. The statement reads that a “complete shutdown for all Sparkpool services and operations for the existing users, at home or abroad, has been planned for September 30th, 2021 (UTC +8) at 20:00.”
  • The company argued that this decision comes “under the premise of ensuring the safety of our users’ assets.”
  • Sparkpool promised to provide more specific information on clearing and refunding rules in upcoming announcements through emails and in-site letters.
  • The closure of the second-largest ETH mining pool would most likely lead to damages to Ethereum’s hash rate. The metric, which is crucial for the network’s security, recently reached a new ATH, but it might drop in the following few weeks.

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Ethereum Price Analysis: ETH tests $3,150 resistance, a breakout to follow?

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  • Ethereum price analysis is bullish today.
  • ETH/USD continued to move higher overnight.
  • ETH is likely to pause before breaking higher.

Ethereum price analysis is bullish today as bulls pushed the market price to the $3,150 resistance after a strong rally yesterday. Therefore, we expect ETH/USD to break higher later today and finally set a new higher high.

Ethereum Price Analysis: ETH tests $3,150 resistance, a breakout to follow? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded with a bullish momentum over the last 24 hours. Bitcoin is up by 1.6 percent, while Ethereum has gained 4.47 percent. Meanwhile, Solana (SOL) is the best performer today, with a gain of 10 percent.

Ethereum price movement in the last 24 hours: Ethereum tests $3,150 previous high

ETH/USD traded in a range of $2,976.34 – $3,163.67, indicating a substantial amount of volatility over the last 24 hours. Trading volume has declined by 13.33 percent and totals $18.85 billion, while the total market cap trades around $365.4 billion, resulting in the market dominance of 18.75 percent.

ETH/USD 4-hour chart: ETH ready to set higher high?

On the 4-hour chart, Ethereum price action can be seen to look for a breakout above the previous high of $3,150 as bulls have regained control.

Ethereum Price Analysis: ETH tests $3,150 resistance, a breakout to follow?
ETH/USD 4-hour chart. Source: TradingView

The overall market continued to trade in a bearish momentum last week. After a new lower high was set around $3,650, ETH/USD dropped more than 25 percent until support was found around $2,750.

What followed was a reaction higher, with the previous major support of $3,150 retested as resistance. What followed was another spike lower on Friday, with a slightly higher low set this time.

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Yesterday, the $2,750 support was tested for the third time, with a subsequent rally to $3,150 resistance over the last 24 hours. Overall, we can expect exhaustion for bearish momentum, likely leading the Ethereum price higher over the next 24 hours.

Ethereum Price Analysis: Conclusion 

Ethereum price analysis is bullish for today as bulls pushed higher overnight, and the $3,150 resistance currently gets tested. Therefore, ETH/USD should see further upside above the $3,150 resistance later today.

While waiting for Ethereum to move further, read our guides on NFT Games, CoinJar, as well as Bitcoin Memes.

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1/3 of Ethereum Supply Has Been Moved Out of Exchanges in Span of One Year

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Ethereum is being moved away from centralized exchanges, and DeFi might be one of the reasons

According to data presented by Santiment, 1/3 of the circulating Ethereum supply has been moved from exchanges to personal wallets. From Sept. 26, 2020, to this day, the circulating supply has been reduced from 24% to 16%, totaling an 8% loss in a year. The main reason for such a trend is the update of the coin’s network and a rapid price increase.

Ethereum price increase

Accumulation periods usually accelerate after the price of an asset has rapidly increased, which makes investors move funds away from the exchange since they are not willing to sell them. Traders usually hold money on exchanges whenever they are willing to sell their assets.

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Since Sept. 2020, when exchange supplies have started to decrease, the Ethereum price has risen by almost 1,000%, with the average entry being $1,800-$2,000 on the network. The majority of Ethereum holders are currently holding their coins with a 69% profit.

Ethereum Daily Chart
Source: TradingView.com 

The period of accumulation is considered over after on-chain data started reflecting a rapid exchange inflow increase. Usually, after the accumulation period is replaced by spending cycles, the price of underlying assets drops significantly.

Alternative investment options presented

Compared to the previous 2017 bullrun, Ethereum has stepped further in development with the announcement of various alternative investment options like liquidity provision and lending. That is why, in some cases, investors choose to reinvest their coins rather than keeping them on exchanges or selling them.

Total Value Locked
Source: DeFi Pulse 

The total value locked in the DeFi industry is currently staying at $85 billion, with a $95 billion TVL ATH reached on Sept. 6. The current trend indicates that Ethereum holders prefer holding their assets in either personal wallets or DeFi smart contracts, rather than exchanges.

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