In this guide, we will express our opinion and that of the market on the future of the ETC as we discuss Ethereum Classic’s price forecasts for 2023 and beyond.
Keep in mind that you should take this and any other forecast with a grain of salt since predicting anything is a thankless task, let alone predicting the future of a new highly volatile financial asset like Ethereum Classic.
Now, let’s get into it. Before we delve into Ethereum Classic price prediction and answer questions about whether ETC is a good investment or not, why ETC will succeed or fail, or why the price of Ethereum Classic will rise or fall, let’s quickly take a look at what ETC is and its history to date.
You can buy ETC on Cex.io, Coinbase or Binance. You can store it on the Ledger Nano S, Trezor T or eToro wallet.
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 bit confusing. In both cases, Ethereum’s original blockchain is divided into two competing versions. The DAO aka the Decentralized Autonomous Organization was a complex smart contract that would revolutionize Ethereum forever. Basically it would be a decentralized venture capital fund that would fund all future DAPPS made in the ecosystem.
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 June 17, 2016, someone exploited this loophole in the DAO and embezzled a third of the DAO’s funds. That’s about $50 million dollars. The consequences of the hack divided the community: one side wanted to make a hard fork and create a new chain with separation just before the DAO attack. This gave birth to Ethereum.
Those who disagreed with the hard fork and insisted on the immutability of the blockchain remained in what is now called Ethereum Classic.
ETC is a smart contracts platform that has some of the largest network assets of any blockchain, consistently superior to Bitcoin Cash and head to head with Litecoin. They have multiple teams of developers, all committed to the long-term vision of ETC. 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, commitment by effort, line by line of code to create a bulletproof network that anyone can use.
Both blockchains are identical in every way up to block 1920000 where the hard-fork was implemented to refund DAO token holders, meaning that all balances, wallets, and transactions that took place on Ethereum up to the hard-fork are still valid on the Ethereum Classic blockchain. After the hard-fork, blockchains were split in two and act individually.
The battle between Ethereum and Ethereum Classic is both ethical and ideological.
Ethereum Classic Price Prediction
The entire cryptocurrency world is on the verge of complete collapse. Bitcoin fell 75% from its all-time high amid broader market declines caused by furious inflation and the US Fed’s rate hikes.
When you add the most recent collapses of huge industry players (FTX, Celsius, Moon etc.) into the equation, the horizon is murky and there will be more blood on the streets of the crypto city.
Investors are selling risky assets and moving to more stable markets. Crypto is still perceived as a very risky game and therefore sell off.
Our algo still sees some green in 2023, especially in the second half of the year. This is reflected in our forecast for 2023.
Right now, Bitcoin needs to find a bottom before we can move in the opposite direction and reverse the trend.
Once Bitcoin settles into the new price range, altcoins will start doing the same – we’ve seen this scenario dozens of times in distant and more recent history.
Our price forecasting model is bearish for the next 90 days with a hint of a bull market straddling quarters from Q1 to Q2. We expect whales and other larger players in the market to finish filling their bags around that time, which will cause a typical and sudden crypto spike.
The fundamentals we evaluate are teams, tokenomics, use case, community, marketing efforts, liquidity and availability of exchange, hype and speculative potential, and some other proprietary factors developed in our crypto lab.
Ethereum Classic Price Prediction 2023
High inflation and the extremely dangerous macroeconomic situation have been heavily reflected in the price of Bitcoin in 2022. When we take the internal crypto issues with big players like FTX, Celsius, Voyager, Luna going down, 2023 doesn’t look too good for bulls. We’ll likely see a lot of boring sideways price action with a tendency to slide down with each minor market tremor.
ETC Price Prediction 2025
Our forecast model sees ETC reaching $37.98 in 2025.
How much will the ETC be worth in 5 years?
The price of ETC in 5 years could be around $ 0
Ethereum Classic Price Prediction 2030 – 2040
How much will Ethereum Classic be worth in 2030?
Our forecast model sees Ethereum Classic reaching $0 in 2030.
How much will Ethereum Classic be worth in 2040?
Our forecast model sees Ethereum Classic reaching $0 in 2040.
Will Ethereum Classic replace/surpass/surpass Bitcoin?
No, Ethereum Classic will not replace or exceed BTC.
How high will Ethereum Classic go?
Our prediction model sees the price of Ethereum Classic plummet and fall to almost 0 in the distant future.
Is Ethereum Classic worth buying?
We don’t 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. Because? Well, it faces fierce competition from other similar crypto projects, it doesn’t stand out for its technology and innovation, it doesn’t have a real community (not counting speculators and the hype-chasing crowd), and the team behind the project isn’t proven.
Can Ethereum Classic make you a millionaire?
No, Ethereum Classic cannot make you a millionaire as we don’t see it making a 10x price increase anytime in the future.
How much will Ethereum Classic be worth?
For the short-term future, it could reach $ 7.22. In the long term (8-10 years), it will most likely drop to 0 or so.
Why will Ethereum Classic succeed and rise in price?
Ethereum Classic has little chance of success. He has no first-time advantage, he doesn’t bring any unique value proposition, he has a weak team and a small community behind him. All this summary prevents Ethereum Classic from succeeding and increasing the price in the long term.
What is the short-term forecast for Ethereum Classic?
Ethereum Classic will reach $7.22 over the next 90 days, which is a 61.2% change from the current price which hovers around $18.62.
Price Prediction Today – What will be the price of Ethereum Classic tomorrow?
Ethereum Classic will hover around $20.19 tomorrow.
Ethereum Classic (ETC) Future Outlook
Most projects will fail: some startups are created only to raise money and disappear, some would not handle the competition, but most are just ideas that look good on paper, but are actually 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 also some scams.”
As a result, more than 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of the projects will become the new Apple, Google or Alibaba in the cryptocurrency sector. Will ETC be in that 5%?
A clear no. Because?
There is a decreasing interest in cryptographic projects based on the mining algorithm (with an exception to BTC), moreover – ETH stole the thunder. It’s that simple. The race between two Ethereum was a winner takes the whole game and Vitalik’s Ethereum took the W in this. ETC will bleed slowly until he dies, while he will likely live through multiple chain hacks in the process.
Why will Ethereum Classic (ETC) be successful?
Because if something goes wrong when Ethereum goes to Casper, everyone will rush to ETC. This scenario is highly unlikely, though.
IOT – internet of things; ETC developers are working to make the ETC blockchain able to talk to ADA and ETH.
It’s a proof-of-work, Turing-complete blockchain, with cryptocurrency and smart contracts both fully integrated into the base layer. The ETC ecosystem is still very much focused on immutability as a core value, having no formal governance mechanism and ensuring emerging decision-making through free network adoption and rule changes. ETH, which currently shares the same full proof of work + Turing base, will most likely migrate to PoS and sharding which are both less secure technologies.
For a cryptocurrency that has suffered a severe attack of 51%, this is solid resilience. It’s as if the Ethereum Classic (ETC) community wasn’t affected at all by the recent attack.
Why will Ethereum Classic (ETC) fail?
Because of Ethereum.
Lack of security on the network due to low token prices and, consequently, low miners’ interest culminating in a low hashrate. We’ve already got a taste of what happens when you have a weak network hashrate: you’re attacked by malicious actors. Although ETC surprisingly shrugged off the event, the stain on its record, credibility and integrity remains. It was supposed to be an immutable chain but was easily manipulated and spent doubly.
Another reason for the potential fall of Ethereum Classic in the future is that the developers of the original Ethereum blockchain switched to Ethereum but not Ethereum Classic.
Will ETC reach $100?
I highly doubt that ETC will ever see those heights. Zero is a more plausible option.
Is the ETC dead?
No, certainly not. Judging by the activity of the teams on social media, the activity of developers on GitHub, and the presence of coins on exchanges, we can safely say that ETC is far from a dead project. However, the hustle and bustle of the community has died down and is only sporadic these days. This is a bad omen for any project.