Ethereum Classic price predictions for 2019 are quite optimistic.
And why not that be the case when you know Ethereum Classic is the original Ethereum currency after all.
I know some of you might be wondering what the hell I mean by ‘Original.’
Well, I mean Ethereum Classic the original smart contracts platform that was conceived by Vitalik Buterin in late 2014.
I know most of you don’t know about Ethereum Classic much that’s why I will first share as much as essential details I know about Ethereum Classic before jumping to prices.
Spoiler: Ethereum Classic can reach as high as $50 dwarfing its previous high of $45 earlier in 2017.
Ethereum Classic History & Price Forecast
Vitalik Buterin– a Russian programmer, proposed Ethereum in 2013 and later in 2014 its yellow paper was presented in The North American Bitcoin Conference in Miami, the USA.
After which Ethereum had one of the biggest ICOs or token sales of that time and its development got a kickoff.
Later after two years of Ethereum’s launch, the community decided to have a decentralized autonomous organization (The DAO) on top of Ethereum.
For funding the development of The DAO, another big ICO of that time was pulled off where investors around the world invested around $150 million towards its development.
Shortly after the work began, $50 million worth of Ether were drawn off from the original $150 million collected. This threw the whole Ethereum and DAO investors’ community in chaos.
After this big blow, Ethereum developers finally decided to fork Ethereum and save the reputation of Ethereum-which was back then in its infancy.
Also, the number of funds stolen was not small- $50 million which naturally called for remedial measures to be taken, no matter how hard they were.
That’s why at Block 192000 Ethereum blockchain forked off to refund the DAO investors and from there on the whole drama started, and thus Ethereum Classic was born.
Ethereum Classic is the chain that is being run by those community members who were against the idea of Ethereum forking off to pay the investors.
After all, they believe that ‘Code Is The Law’ and that’s why weren’t quite supportive of the fork, but on the other hand Vitalik and Gavin Woods were quite supportive of the fork as they wanted to save the Ethereum’s reputation.
But ultimately, Ethereum forked away from Ethereum Classis (original Ethereum) with its leadership and developers community.
And that’s the reason the new currency (Ethereum) which was formed due to the fork was the market’s first choice.
Ethereum Classic Price Predictions 2019
Coming back to the price thing for Ethereum Classic.
Ethereum Classic has produced decent price returns for its earlier investors.
Of course, I don’t mean that the past price action is an indicator of future price movements, but you can always see historical price actions to get an idea.
And when you inquire about that, you will find ETC holders had a whopping return of +1700% in 2017, but later in 2018 we have seen an 80% pullback in its price, and that’s why with this price adjustment Ethereum Classic is looking like a healthy investment for now.
Here are stats from the last three years:
|Ethereum Classic historical returns on investment|
|Returns by year||1795.04%||-81.90%||-18.71%|
Here is a month wise comparison of Ethereum Classic’s price action in the last two years including the current January 2019 month:
Ethereum Classic (ETC) Price Prediction 2019-2020
Between Tue, Dec 25th, 2018 – Wed, Jan 23rd, 2019, the price of Ethereum Classic ranged between $5.27 and $4.33, with a min/max of $4.17 and $5.63.
Its market cap ranged between $ 564.11 MM and $ 466.67 MM, with a min/max of $ 448.67 MM and $ 602.74 MM, a median of $ 524.76 MM and a 7 day moving average of $ 466.71 MM.
The trading volume ranged between $ 94.46 MM and $ 278.08 MM, with a median of $ 126.27 MM and a 7 day moving average of $ 114.54 MM.
However, if you notice the volume has been decreasing, and that’s a sign that not many are interested in this low-risk profile cryptocurrency as of now.
But if you have been into crypto for some time, then you should know that buying low and selling high is the way to go when purchasing altcoins like Ethereum Classic.
Here are volume stats from last few days so that you can spot the dying trend:
|Wed, January 23rd, 2019||$1,094,369|
|Tue, January 22nd, 2019||$1,501,005|
|Mon, January 21st, 2019||$1,363,165|
|Thu, January 17th, 2019||$2,304,897|
|Wed, January 16th, 2019||$2,029,439|
|Tue, January 15th, 2019||$2,377,135|
|Sat, January 12th, 2019||$2,451,962|
|Wed, January 9th, 2019||$2,759,047|
|Tue, January 8th, 2019||$5,653,908|
|Sun, January 6th, 2019||$4,352,837|
|Fri, January 4th, 2019||$2,533,818|
|Tue, January 1st, 2019||$2,595,277|
|Mon, December 31st, 2018||$2,562,992|
|Sun, December 30th, 2018||$2,791,107|
|Sat, December 29th, 2018||$4,684,596|
So keeping all these data in mind, it is easy to infer that ETC is one of those cryptocurrencies that have low volatility index but has the potential to yield 5x to 10x in a few years.
Furthermore, this is even predicted by our in-house price prediction techniques that we use quite often.
So far our method has been accurate more than 70% of the time and here are the data points for Ethereum Classic’s price predictions.
Even more so the development is still being run by IOHK and the team which is undoubtedly one of the best blockchain development teams out there in the market capable of importing any feature from the Ethereum development.
Lastly, Ethereum Classic is now no longer uncapped like Ethereum and now has fixed total supply which makes its inflation rate known and hence more comfortable for calculations.
That’s why you should be a bit more bullish on Ethereum Classic.
Now you tell us: What do you think about Ethereum Classic? What’s your price prediction for Ethereum Classic? Do share with us in the comments section below.
Hey there! I am Sudhir Khatwani, an IT bank professional turned into a cryptocurrency and blockchain proponent from Pune, India. Cryptocurrencies and blockchain will change human life in inconceivable ways and I am here to empower people to understand this new ecosystem so that they can use it for their benefit. You will find me reading about cryptonomics and eating if I am not doing anything else.