Welcome to the fourth installment of our Bitcoin and & Altcoin Price Analysis series. Today we are going through Ethereum Classic (ETC). Ethereum Classic – as most probably know already – is the original Ethereum chain that has been kept alive after the DAO incident by an ever growing group of developers. The main value proposition of the chain is immutability and the claim is that in order to achieve that you can not hard fork at will to change the rules for financial reasons (to bail out investors in this case).

What makes ETC unique?

Interoperability: They plan to achieve interoperability with the help of sidechains. The core of the sidechains will be the “SputnikVM” which can run smart contracts everywhere, even in your browser or you can put it in embedded devices. The finalization of these sidechains is going to be completed this year. From then on, transactions are going to be completely free, and even the lowest powered devices are going to be ready to use them. The deployer of the feature can even decide whether he prefers PoA or PoS approaches.

UI/UX: ETC has smooth, already well working wallets such as the Emerald Wallet or ClassicEtherWallet, not to mention that ETC can be found on every major exchange: Bittrex, Binance, Okex, Kucoin – you name it. Furthermore low-fee transactions are not the only thing ETC has to offer, transferring freshly purchased ETC from exchanges to the Emerald wallet is quite fast. Installing the wallet itself is also very simple and shouldn’t take more than a minute for an average user.

Callisto (CLO) airdrop: The airdrop is coming, a snapshot will occur at block 5500000. Those who held ETC during the snapshot will get CLO coins at a 1:1 ratio during the airdrop. Of course, the current popularity is highly affected by this airdrop, and even though we might see a correction in price once that happens, the future is still bright for ETC with all the above mentioned fundamentals.

For a complete roadmap visit this link.

What does this mean for Ethereum Classic in the short term?

Until the Callisto airdrop is completed, we expect to see higher highs. With a high volume like this, a new USD ATH should be right around the corner. With a current 10.48 % price increase in the last 24 hours and a 34.83% in the last 7 days, we expect it to climb higher in the short term. Moreover its worth to note that ETC price is rising by 12.11% in favor of BTC, only a very few coins are able to decouple of BTC’s volatility.

Another important thing to note is that not only Korean exchanges are driving up the trading volume, we can see high volumes on Chinese and US exchanges aswell. The volume seems healthy enough both in FIAT and BTC.

What does this mean for Ethereum Classic in the long term?

Lets look at the ETC/BTC chart for some longer term TA:

We can see here that as the result of the airdrop there has been growing buy pressure recently. This resulted in ETC leaving the previous trend line and switching to a more parabolic one. We are guessing that we might see a new peak now, even a double top and a bit of sideways after it followed by a new high and an USD ATH possibly.

The more likely scenario is that after the airdrop we will move back to the old trend line and continue on the way to a new market cycle. If you look at the last full cycle, you wil see that it peaked in June. We are still very far away from summer and that is the reason we are expecting this to be a “mid season” peak caused by the airdrop.

The less likely scenario is that because of the current rise, we might see an early attempt at a full market cycle and an ATH attempt at the ETC/BTC pairing. Either way ETC seems like a good pick currently if you can hold a few months.

WalletInvestor.com Machine Learning Forecast

Our forecast made with Machine Learning algorithm (based on AI) expects a minimum of 63% USD growth in the coming 1 year. This is good considering we have a positive conclusion on our charts aswell.

This forecast is updated constantly as market behavior (volume, price rise, etc.) changes, meaning that the picture attached can get outdated as a result. Keep in mind though, that this is just a tool that should give you a better perspective on the markets and should never be used as the single reason for investing.

General notice

We offer our own perspective at markets, but you (as an investor) should always #DYOR – Do Your Own Research, both fundamentally and market-wise. Our articles should not be used as an investment advice. Note also that this article is not intended as an investment advice. We at WalletInvestor love to do charts and read up on interesting projects.