For many people, cryptocurrencies have lost their luster. They’ve gone from being futuristic and exciting to mysterious and potentially dangerous in the public imagination.
There are many competitors out there and it can be difficult to understand which ones have staying power, or even legitimacy.
Bitcoin is by far the most famous, but how many people understand the difference between their digital currency and Ethereum’s ‘smart contract’ system? And will distinctions such as this make a difference as these currencies compete for investors?
The latest ETC prediction aims to set people straight.
Latest Ethereum Classic Prediction
If you have been paying attention recently, you may have noticed that international markets are in pretty sad shape, and ETH is no exception.
This isn’t a recent phenomenon; they have been down for months, yet according to the latest prediction models, they are still considered a hot commodity for many cryptocurrency traders.
Why is there so much hope for what appears to be such a bad investment? Let’s face it, the markets are fickle, and what might be a good investment in the future may look like a questionable choice right now.
How Low Can ETC Go?
ETH has been a bit of a disappointment for investors, showing barely any movement at all in the past six months, and hitting a low of $4.645 on December 31 2019.
Current models predict even further downturn at the end of this month, dropping a whopping -11.24% to $6.24.
So, should you jump ship or stay the course and pray for a miracle? To answer this you need to do two things: first, take a deep breath and try to overcome the heart attack that has occurred every time you looked at your financial portfolio recently.
Next, study the forecasts.
Ethereum Classic Prediction Points to Brighter Days
Though there will be some turbulence ahead, the latest ETC prediction shows some light at the end of this very long tunnel, and it’s not a modest upswing.
Those savvy investors who are comfortable playing the waiting game can expect to see a substantial return on their investment later this year.
Well, market watchers predict interest from large institutional investors coupled with more regulation of digital currencies to have a net positive effect, especially on ETC, driving up the price to an estimated $14.97 by the 1st of January 2021.
So, Give Them All My Money?
Slow down there, tiger!
Although the current prediction shows growth in the long term, markets fluctuate, and this one could be a bumpy ride.
Interest in cryptocurrencies definitely isn’t as strong as it once was, going by the current market dynamics, and there is plenty of competition for your investment.
The future is anyone’s game, but when the dust settles, will ETH be one of the survivors?
As long as they continue to deliver value, ETH will be a strong contender, but a smart investor should be keeping a close eye on future developments.
What’s the Big Deal with Ethereum Anyway?
Launched in 2015, ETH is the new kid on the block, but it came out with a bang, immediately differentiating itself from the competition in fundamental ways.
Traditional cryptocurrencies like Bitcoin are primarily digital currencies, which focus on manual financial transactions: sending and receiving money.
Ethereum is different from other major cryptocurrencies like NEO and Litecoin.
While it also offers the peace of mind of a decentralized server network and blockchain, ETH is much more than a currency alternative.
It focuses on the idea of “smart contracts” by providing a platform and programmable language for users to build applications on. Money is only sent when certain pre-set conditions are met.
What is a ‘Smart Contract’ and Why Should I Care?
By differentiating itself from other cryptocurrencies, ETH has proved that it has more to offer and is a major reason why many investors are looking at this company as a long-term investment.
Initial offerings might have been underwhelming, but they have something unique to offer and it is only a matter of time before the world wakes up to that.
They have digitized contracts and made them automatic and customizable. The possibilities for this type of tool are endless, and a major reason why this company, despite its poor initial market performance, isn’t expected to disappear.
The positive ETC prediction is based on two things:
- Perceived interest in cryptocurrencies
- Increased regulation of them
It is a guesstimate of how the market will react to those forces, and the forecasts are clear:
ETC is definitely an investment worth looking into, if only to study the net effects of these changes on the world of cryptocurrency – after all, these changes will most likely affect the majority of cryptocurrencies on the market.
Ultimately, it is up to you to decide the best place to invest your money. Good luck!
ETC has climbed up recently together with the majority of cryptocurrencies.
The future might look bright according to analysts.
ETH has performed better than ETC lately.
This is something that analysts take into consideration when deciding where to invest.