Making A Positive Ethereum Classic Price Prediction 2021 – Based On Technical Analysis



Ethereum Classic Price Prediction 2021

Ethereum Classic Price Prediction

In today’s crypto video, we are going to make an Ethereum Classic price prediction by doing technical analysis in order to figure out the next move for Ethereum Classic ETC price!

⌛History of Ethereum Classic⌛

According to Cardano founder Charles Hoskinson, Ethereum’s initial founders had two different philosophies about the best way to develop cryptocurrencies.

Some of them believed in the idea that code is law – what happens on the blockchain stays on the blockchain for better or for worse.

Others however believed in mutability in the name of innovation.

In other words, if something bad happens on the blockchain, steps should be taken to fix it.

Ethereum Classic was created because of an event that put both of these crypto philosophies into question

👨‍💻The DAO Hack👨‍💻

The DAO was created by a German startup called Slock in June 2016, and within a month of launching over 150 million dollars worth of ETH had been deposited into the DAO smart contract.

On June 17th, 2016, an anonymous hacker drained 50 million dollars worth of ETH from the DAO smart contract, equal to about 5% of all the ETH in circulation at the time.

After disagreements about how to respond to the incident, Ethereum forked on the 20th of July 2016, creating two separate blockchains.

The Ethereum chain where the DAO hack never happened, and the Ethereum Classic chain where the ETH remains stolen for better or for worse.

🥊Ethereum Classic vs. Ethereum🥊

Ethereum Classic is almost identical to Ethereum save for a few minor differences.

Ethereum Classic is committed to immutability – what happens on the blockchain stays on the blockchain. ETC also has completely different tokenomics than ETH.

This is because of a change to Ethereum Classic in December 2017, which reduces ETC block rewards by 20% every 5 million blocks. This will continue until ETC hits its maximum supply of 210 million 700 thousand, which is expected to occur sometime in 2042.

📈ETC Price Analysis📈

ETC’s price action is as parabolic as it gets. ETC has gone up by more than 20x since the start of the year. This rally began back in April 2021, and there are three things that could have caused it.

Most of this seems to be institutional investment via Grayscale. Grayscale’s Ethereum Classic trust has been around since 2018, and the trust seems to be holding more than 13% of all the ETC in circulation.

🕵️‍♂‍ Who Hacked The DAO?🕵️‍♂‍

It seems apparent that the DAO hack was not driven primarily by profit, but by ideology. If it were for profit, the hacker would have drained all the ETH from the DAO smart contract.

The public letter to the Ethereum community shows that this individual is committed to the idea that code is law.

Taken together, these facts lead me to believe that the person who hacked the DAO is likely one of the pseudonymous founders of Ethereum Classic.

► CRYPTO TOOLS & RESOURCES ◄

●▬▬▬▬▬▬▬▬▬▬▬▬▬▬●

Cryptocurrency Exchanges:

BlockFi Exchange:

Earn up to 8.6% APY on crypto with the BlockFi Interest Account, take out fast and secure USD loans on your crypto, and buy and sell different currencies on this no-fee trading platform.

Sign up using the following link and you will earn $10 in BTC after making a min deposit of $100 into your BlockFi Interest Account (BIA).

https://blockfi.com/?ref=8196c8ae

Changelly Exchange:

For buying or trading one cryptocurrency with another cryptocurrency:

https://changelly.com/?ref_id=nMo94rePnVfrug0R

For buying Cryptocurrency with Fiat Money using Bank Card:

https://changelly.com/buy?ref_id=nMo94rePnVfrug0R

Kucoin Exchange:

https://www.kucoin.com/ucenter/signup?rcode=rJGK1VM

●▬▬▬▬▬▬▬▬▬▬▬▬▬▬●

► Trade Cryptocurrency Derivatives on Bybit Derivative Exchange:

https://partner.bybit.com/b/Crypto$

●▬▬▬▬▬▬▬▬▬▬▬▬▬▬●

► Automated Trading Made Easy with Coinrule:

http://bit.ly/automated_trading_with_Coinrule

●▬▬▬▬▬▬▬▬▬▬▬▬▬▬●

► Buy Hardware Wallet:

Ledger Crypto Starter Pack: https://shop.ledger.com/products/crypto-starter-pack?r=eee8629af7c5 Ledger Nano X: https://shop.ledger.com/products/ledger-nano-x?r=eee8629af7c5

●▬▬▬▬▬▬▬▬▬▬▬▬▬▬●

► Get Billfodl: https://bit.ly/Get-Indestructible-Billfodl

What Is a Billfodl?

The Billfodl is a small, wallet sized stainless steel enclosure designed to house any kind of crypto private key or recovery seed you may need to protect from physical threats of destruction. With the Billfodl, you don’t need fancy stamping sets or hammers. Instead we provide a randomized set of character tiles, laser engraved for maximum readability and ease of installation.

●▬▬▬▬▬▬▬▬▬▬▬▬▬▬●

► Best Crypto Tax Software (Get 10% discount):

http://cryptotrader.tax/?fpr=valuevaults (Promo Code: CRYPTOTAX10)

●▬▬▬▬▬▬▬▬▬▬▬▬▬▬●

For more Cryptocurrency News & Tips:

BITCOIN PRICE PREDICTION – WILL HIT $250K!

Greatest Ethereum Price Prediction of 2021!

Dogecoin Value to the Moon and Back! (May 10, 2021)

BIG ELROND PRICE PREDICTION (Hashoshi Interview)

CARDANO PRICE PREDICTION! EXPERT BENJAMIN COWEN EXPLAINS

XRP Price Explosion To $589?!

Elon Musk’s Secret Plans for Increasing Dogecoin Value?!

Elon Musk to Pump the Dogecoin Value on SNL?!

Dogecoin Value Blasting to $5 in 2021?

Chainlink Price Prediction – $1000 Possible?!

Best Altcoins 2021 – 5X Altcoins Are Everywhere – Get Rich With Crypto!

LAST CHANCE to Become a Cryptocurrency Millionaire in 2021?!

Find out How You Can Become the Next Bitcoin Era Millionaire

Disclaimer: We are not a financial advisor. We do not provide tax, legal, or accounting advice. This material has been prepared for entertainment purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.

This site is reader-supported – if you make any purchase or subscription via some of the links which are affiliate links, we may be compensated with commissions, at no extra cost to you. Thank you.

 

 

You May Also Like