Cryptocurrency is a topic of discussion for today’s young people. And it does not cease to be relevant, as something constantly changes – sometimes it is profitable to mine, sometimes it is not, new networks appear, new markers appear, the value either increases or decreases.
Today we will talk about the future of such cryptocurrency as Ethereum Classic. We will try to forecast the cryptocurrency Ethereum Classic (ETC) for the end of 2021 and to estimate the rate of its development. Is it worth investing, will the price of these coins grow?
- A word about Crypto
- Forecast for the end of 2021
- Long-term outlook
- Is it worth investing?
A word about Crypto
At first you should get to know how the ETCs came to be. This will help you to understand a lot about the developers and policy of the company. In a nutshell, it’s a fork of the already well-known network Ethereum, which was loved by many miners. Despite the fact that the measure was built on the basis of ETH with the correction of errors and bugs in the code with an increase in security level, it is still a fully autonomous currency, which lacks the shortcomings of its founder.
After its appearance, this network gained a wide spread, in part due to the popularity of Ethereum. Therefore, many miners turned their attention to it from the first days. And they were right, as ETC was a very profitable token for mining from the beginning. To this day, Ethereum Classic mining is relevant, though not as profitable as before.
Forecast for the end of 2021
To somehow predict the future of ETC, you should look at its past. In particular, you should pay attention to the following indicators:
- The value of the token on the exchanges.
- Trading volume.
So, the first thing to look at is the value of this coin. And here you can observe growth. At the beginning of 2021 the token cost about $ 5.5, while at the time of writing this article the rate was $34.5. During the year, the price rose up to $ 150. And although this phenomenon is short-lived, still if we take the middle course, we see a tendency to increase. This is a very important indicator. You can learn more about the factors that will affect the Ethereum Classic course by the end of 2021 at the following link.
In addition, initially the issuance of this token was not planned. But, given the realities of modern cryptocurrencies, the course of policy has changed and the number of coins has been limited. This means that over time, with each coin mined, the complexity of the network will increase. All this determines the further increase in the value of the Ether Classic token. Therefore, in 2022, we will see an increase in value of at least 10% – probably up to $ 70 per coin. It is impossible to accurately determine the growth rate and indicate the cost of ETC, as well as the complexity of the network, as it is influenced by many factors that do not depend on each other.
If we talk about the long term, we can say with confidence that Ethereum Classic has every chance not only to survive but also to become a profitable investment. It is possible that with the increasing complexity of the network, mining will gradually take a back seat and will not be as relevant as at the moment. But when it comes to trading on exchanges or long-term investment, you can see similarities with Bitcoin. Maybe the exchange rate will not rise sharply, but still now everything indicates that the cost of ETC will only grow.
The fall in the value of the coin can be observed, but only in the short term. Moreover, as a rule, after a slight fall, the exchange rate not only levels off, but also rises, slightly exceeding the value before the fall in price.
Is it worth investing
Analytics of Ethereum Classic show that it is currently one of the most promising cryptocurrencies, second only to Bitcoin and its forks, and its ancestor, Ethereum. Given all the above, we can conclude that you can invest in this cryptocurrency. Of course, it is important to understand that this is very risky, because in the world of cryptocurrencies everything can happen completely unexpectedly. Therefore, no one will be able to give guarantees.
But so far the prospects for the future are quite pleasant. Among other things, Ethereum Classic should be invested in because of following reasons:
- Trust and support from such a well-known exchange as Poloniex.
- High level of security, protection against attacks and support from exchanges. All this allows you to nullify such attacks as dumping strategy, DDoS attacks and so on.
- The presence of the issue.
- Strict adherence to the traditions of cryptocurrency developers, which increases the level of trust among users.
It is worth noting that in some matters Classic overtook ETH, and thanks to the issue, the network has the opportunity to compete with leaders in this field.
Given all the above factors, we can make some predictions for the future of this cryptocurrency. Of course, it is simply impossible to describe everything, and it does not make sense. Everything can change at any moment. The main thing that is important to know:
- The tendency to further increase the value of tokens.
- The development of the network, the growth of trust not only among users, but also exchanges such as Poloniex, which is also a positive indicator.
- High trust means increased investments in the network – new investors lead to even greater development.
- Mining trust and promotion among miners that make this network even more attractive. The fact is that the faster the coins are mined, the higher the complexity of the network and the cost of tokens.
What conclusion can be drawn from all this – this network and its cryptocurrency currently has a high level of trust and serious prospects for the future. After analyzing all the parameters, we can conclude that with a high probability Ethereum Classic will not only live and compete, but will grow in price. This means that ETC is a profitable investment in the long run.