In this guide, we will voice our own and market’s opinion on ETC future while discussing Ethereum Classic price forecast for 2023 and beyond.
Please bear in mind that you should take this and any other prediction with a grain of salt since predicting anything is a thankless task, let alone predicting the future of a novel, highly volatile financial asset like Ethereum Classic.
Now, let’s head into it. Before we delve deep into the Ethereum Classic price prediction and answer questions if ETC is a good investment or not, why will ETC succeed or fail or why will Ethereum Classic price rise or drop, let’s quickly throw a glance at what is ETC and its to date history.
Ethereum Classic Intro
Ethereum Classic (ETC) is a fork of Ethereum. Or, as some would say, Ethereum is a fork of Ethereum Classic… depending on who you ask and can be a little confusing. Either way, the original Ethereum blockchain is split into two competing versions. The DAO aka the Decentralized Autonomous Organization was a complex smart contract which was going to revolutionize Ethereum forever. It was basically going to be a decentralized venture capital fund which was going to fund all future DAPPS made in the eco-system.
Within 28 days of its formation, it accumulated over $150 million worth of ether in a crowdsale. At that time, it had 14% of all ether tokens issued to date. On 17th June 2016, someone exploited this very loophole in the DAO and siphoned away one-third of the DAO’s funds. That’s around $50 million dollars. The aftermath of the hack split the community: one part wanted to do a hard fork and create a new chain with the separation right before the DAO attack. That gave birth to Ethereum.
The ones that were not in agreement with the hard fork and insisted on the immutability of the blockchain stayed in what is now called Ethereum Classic.
ETC is a smart contracts platform that has some of the largest network activity of any blockchain, consistently higher than Bitcoin Cash, and neck-and-neck with Litecoin. They have multiple developer teams, all of whom are committed to the long term ETC vision. They are in the top-10 in programmer activity (measured by code commits). They have numerous sources of funding, and we continue to grow, day-by-day, commit-by-commit, line-by-line of code to create a bullet-proof network that anyone can use.
Both blockchains are identical in every way up until block 1920000 where the hard-fork to refund The DAO token holders was implemented, meaning that all the balances, wallets, and transactions that happened on Ethereum until the hard-fork are still valid on the Ethereum Classic Blockchain. After the hard-fork, the blockchains were split in two and act individually.
The battle between Ethereum and Ethereum Classic is both an ethical and ideological one.
Ethereum Classic Price Prediction
The whole crypto world is on a verge of a complete breakdown. Bitcoin has fallen 75% from its all-time high amid broader market declines caused by raging inflation and US Fed rate hikes. When add the most recent melt-downs of huge industry players (FTX, Celsius, Luna etc) into the equation, the horizont is murky and there will be more blood on the streets of the crypto town. Investors are selling risky assets and moving into more stable markets. Crypto is still perceived as a very risky play and hence the sell off. Our algo still sees a some green in 2023, especially in the second part of the year. This is reflected in our 2023 predictions. Right now, Bitcoin needs to find a bottom before we can move in the opposite direction and reverse the trend. Once Bitcoin settles in the new price range, altcoins will start to do the same - we have witnessed this scenario dozens of times in the distant and more recent history. Our price prediction model is bearish for the next 90 days with a hint of a bull market at the turn of the quarters from Q1 to Q2. We expect whales and other bigger players in the market to finish filling their bags around that time which will cause a typical and sudden crypto spike. CaptainAltcoin team created a price prediction model with a multi-faceted approach to crypto that takes into account both technical analysis and fundamental assessment of each project. Fundamentals that we evaluate are team, tokenomics, use case, community, marketing efforts, liquidity and exchange availability, hype & speculative potential and some other proprietary factors developed in our crypto lab.
ETC Price Prediction For The Next 90 Days
Below is a tabular overview of how will ETC develop in the short-term (for the next 90 days), according to our prediction model:
Ethereum Classic Price Prediction 2023
High inflation and extremely unsafe macro situation reflected heavily on Bitcoin price in 2022. When we take the internal crypto troubles with big players like FTX, Celsius, Voyager, Luna going down, 2023 is not looking too good for the bulls. We will probably see a lot of boring sideways price action with a tendency to slip lower with each minor market tremor.
CaptainAltcoin’s prediction model takes market sentiment into an account and reacts accordingly. Below is a month-by-month breakdown of the last months of 2022 and 2023:
ETC Price Prediction 2025
Our prediction model sees ETC reaching $ 44.88 in 2025.
What will ETC be worth in 5 years?
The price of ETC in 5 years could lie around $ 0, according to CaptainAltcoin’s prediction model.
Ethereum Classic Price Prediction 2030 – 2040
What Ethereum Classic will be worth in 2030?
Our forecasting model sees Ethereum Classic reaching $0 in 2030.
What Ethereum Classic will be worth in 2040?
Our forecasting model sees Ethereum Classic reaching $0 in 2040.
Will Ethereum Classic replace / surpass / overtake Bitcoin?
No, Ethereum Classic will not replace or overtake BTC.
How high will Ethereum Classic go?
Our forecasting model sees Ethereum Classic price crashing and dropping to near 0 in a distanced future.
Is Ethereum Classic worth buying?
We do not see a bright future for Ethereum Classic. It is worth buying only as a short-term speculation with a good exit strategy. Ethereum Classic is not a good long-term hold.
Is Ethereum Classic a good investment?
Ethereum Classic is not a good investment in our opinion. Why? Well, it faces a fierce competition from other similar crypto projects, does not stand out with its technology and innovation, does not have a genuine community (not counting speculators and hype-chasing crowd) and the team behind the project is unproven.
Can Ethereum Classic make you a millionaire?
No, Ethereum Classic can not make you a millionaire as we do not see it doing a 10x price increase any time in the future.
How much will Ethereum Classic be worth?
For the short-term future, it could reach $8.62. In the long-term (8-10 years), it will most likely drop to 0 or thereabouts.
Why will Ethereum Classic succeed and go up in price?
Ethereum Classic has a slim chance of succeeding. It has no first mover advantage, it brings no unique value proposition, it has a weak team and small community behind it. All of this summed up prevents Ethereum Classic to succeed and rise in price for the long-term.
What is the short-term prediction for Ethereum Classic?
Ethereum Classic will reach $8.62 in the next 90 days, which is a 60.8% change over the current price which hovers around $22.00.
Ethereum Classic Price Prediction Today - What will be the price of Ethereum Classic tomorrow?
Ethereum Classic will hover around $23.88 tomorrow.
Ethereum Classic (ETC) Future Outlook
The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market.
Vitalik Buterin, co-founder of Ethereum said:
“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”
As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will ETC be among those 5%?
A clear no. Why?
There is a decreasing interest in crypto projects based on the mining algorithm (with an exception to BTC), PLUS – ETH stole it thunder. It is simple as that. The race between two Ethereums was a winner takes all game and Vitalik’s Ethereum took the W in this one. ETC will slowly bleed out to its death, while probably living through multiple chain hacks in the process.
Why will Ethereum Classic (ETC) Succeed?
Why will Ethereum Classic (ETC) Fail?
Will ETC reach $100?
Highly doubtful that ETC ever sees those heights. Zero is a more plausible option.
Is ETC dead?
No, certainly not. Judging by the teams activity on social media, developers activity on GitHub and coin’s presence on exchanges we can safely say ETC is far from a dead project. However, community bustle has died down and is only sporadic these days. That is a bad omen for any project.
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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com