ETC Coin Price Analysis & Prediction 2020 & Beyond

Looking for an ETC coin price prediction and analysis 2020 & beyond? Keep reading!

Before we get into our ETC coin price predictions of 2020 and beyond, we think it’s best you know what ETC coin is about. We’ll go over some background about the ETC crypto project, and it’s future. If you already know the answer to the question “What is ETC crypto coin?” — skip the first part of this article.

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What is Ethereum Classic (ETC) Coin?

The inner workings and purpose of the Ethereum Classic platform and its coin are closely related to its shared history with Ethereum that lasted until 2016. After the hacking incident in 2016, one part of the developers decided that the platform should undergo a hard fork to mitigate the damage. The other part opposed changing the original blockchain and stood by the existing platform that they subsequently named Ethereum Classic.

The original incident is linked to the Decentralized Autonomous Organization (DAO) which the original Ethereum used. The purpose of this organization was to make sure that the network and its decision-making system remain decentralized. It was breached by a hacker who stole about 3.6 million ether (approximately USD 50 million US dollars) as the cryptocurrency needed to use the Ethereum platform and its products.

Most of the original Ethereum developers opted for the hard fork, but those who chose Ethereum Classic claim that the platform basically offers the same functionality when it comes to the development of smart contracts and dApps on it. Smart contracts are run on the platform’s Sputnik Virtual Machine, while dApps are designed with the help of the Emerald Software Developer Kit. The nodes which process transactions related to smart contracts are paid in ETC. The network still uses the Proof-of-Work protocol and has no plans to change it, unlike the Ethereum which plans to move to the Proof-of-Stake consensus algorithm. In addition to Ethereum, Ethereum Classic is in direct competition with the platforms such as NEO, Qtum and Lisk which are also focused on smart contracts and dApps.

The software Geth is used to run the nodes on the Ethereum Classic network, as well as handle accounts, transactions and mining. Thanks to its shorter block times, the transaction fees with ETC are low.

The Aftermath of the DAO Attack?

Now, while Ethereum is in no shape or form to blame for what happened with the DAO, regardless, the incident shattered the beliefs that people had in cryptocurrency in general. The price of ether plummeted from $20 to $13, and people were openly eulogizing.

Even though the hacker did take away $50 million worth on Ether, it was still sitting in the child DAO, and he couldn’t yet access them because the DAO smart contract explicitly stated that any of the invested ETH taken out of the DAO wouldn’t be accessible for 28 days. With this in mind the ethereum community and team decided to take action and three potential solutions were pointed out:

• Nobody Does Anything.
• Soft Fork.
• Hard Fork.

Nobody Does Anything?

Some people argued that making any changes will go against the very nature and underlying philosophy of crypto blockchains itself. After all, it is supposed to be immutable and “code is law.”

A lot of people weren’t happy with this, however, so the majority voted on going with a Soft Fork.

ETC Coin Price

Now that you got the answer to “What is ETC coin?” — let’s get into our ETC coin price predictions 2020 and beyond, as well as some ETC coin analysis. We’ll also go over what some crypto analysts think about the question “Is ETC crypto a good investment in 2020 and beyond?”

ETC Coin Price Analysis

On the intraday charts, ETC/USD is moving within the narrow horizontal range. The short-term recovery is limited by the upper line of the 30-min Bollinger Band at $7.3 and 30-min SMA200 at $7.38. One this barrier is out of the way, the upside momentum may be extended with the next focus on $7.50 reinforced by 30-min SMA100 and the middle line of the 4-hour Bollinger Band.

ETC/USD 30-min chart

On the downside, the local recovery is created by 30-min SMA50 at $7.20. If it is broken, psychological $7.00 will come into focus. This psychological barrier is reinforced by 200-daily SMA. If it is broken, the sell-off may gain traction with the next focus on 100-day SMA at $6.50 followed by the above-mentioned Sunday’s low of $6.49.

ETC Coin Price Predictions 2020

The market’s liking Ethereum Classic (ETC) coin so far, and thinks it has potential for the upcoming years. Here are some ETC coin price predictions from crypto market experts.

Ethereum Classic Price Prediction — Bein Crypto

Bein Crypto is a crypto prediction website that predicted that by 2020 and might reach $200 in 5 years, which might give a tough competition to its parent, Ethereum.

ETC Coin Price Prediction — Trading Beasts

Trading Beasts also gave a conservative, yet pragmatic forecast, where they stated that by 2020 end, ETC might reach as high as $9.67 and as low as $6.58.

ETC Coin Price Prediction — Wallet Investor

Wallet Investor gave the most bearish prediction ever, where they mentioned that by the end of 2020, Ethereum Classic might fall down to as low as $0.7012.

ETC Price Prediction — Digital Coin Price

Digital Coin Price predicted that by the end of 2020, Ethereum Classic might reach $6.56, which is not at all an impossible scenario.

Ethereum Classic (ETC) Price Prediction 2020 — Our Thoughts

After the 51% attack on ETC network, where the attackers rented the hash power, which is required to control the network, Metronome (MET) released an update that it would develop contracts for deploying on the Ethereum Classic (ETH) network so that the transactions can be secured. Very recently, ETC Labs even introduced an ETC development team, which would be working on core ETC projects, wherein it would provide tools for decentralized applications development and supporting its blockchain services. These all developments gave ETC reasons to rise up from the ashes, and maintain its stability. By the end of 2020, ETC might reach around $35, which would give it a great boost.

ETC Price Prediction 2020

By 2020, Ethereum Classic might improve on its scalability, along with interoperability with other blockchains, which is indeed a big step to attain greater heights. As per the ETC roadmap, they have plans of hybrid consensus research and mesh networks into their system by 2020. These will sort ETC to make it one of the best cryptocurrencies in the world. Meanwhile, due to these upgrades, ETC will get more partnerships, which might increase its value to $34.52. (Ethereum Classic Price Prediction 2020).

ETC Price Prediction 2025 — Long Term

In 5 years time frame, Ethereum Classic might reach newer heights and milestones. It might be considered as one of the top 10 cryptocurrencies in the world, and might give a tough competition to the leading cryptocurrencies. Ethereum Classic would gain higher in adoption all across the world and even in partnerships across the globe. By the end of 2025, ETC might reach $114.842. (Ethereum Classic future price prediction)