{"id":4239,"date":"2020-09-24T12:37:20","date_gmt":"2020-09-24T12:37:20","guid":{"rendered":"https:\/\/paybis.com\/blog\/?p=4239"},"modified":"2025-12-15T15:47:01","modified_gmt":"2025-12-15T15:47:01","slug":"ethereum-classic-price-prediction","status":"publish","type":"post","link":"https:\/\/paybis.com\/blog\/ethereum-classic-price-prediction\/","title":{"rendered":"Ethereum Classic Price Prediction – The Ups and Downs Ahead"},"content":{"rendered":"

Over the past few months, Ethereum Classic (ETC) has been the topic of many discussions. The forked Ethereum project was created just four years ago after the popular <\/span>DAO hack<\/span><\/a> created a chasm in the crypto community.\u00a0<\/span><\/p>\n

The \u201cclassic\u201d version follows the original Ethereum protocol and remains loyal to the philosophy of blockchain immutability. The newer version – what we know as Ethereum (ETH) – was moved to a new chain in order to return all the stolen coins from the DAO hack.<\/span><\/p>\n

And while many may think that the original version would attract most crypto-idealists, that\u2019s not necessarily true. Nowadays, the cryptocurrency has been making front-page news for its security issues and delisting notices of large exchanges.\u00a0<\/span><\/p>\n

Ethereum Classic price prediction posts don\u2019t seem too hopeful either. Many are uncertain of the coin\u2019s future, wondering if the coin can overcome its hurdles and survive in the long term.<\/span><\/p>\n

In this article, we take a look at ETC\u2019s recent events and make a realistic price prediction for its future value.<\/span><\/p>\n

Historical data for Ethereum Classic price<\/span><\/h2>\n

Ethereum classic is not performing well since its latest all-time high. After reaching a peak price at slightly above $40 per coin, it returned to its prior strong resistance in the $20 area, before slowly losing more than 90% of its value.<\/span><\/p>\n

\"Ethereum<\/path><\/svg><\/a><\/picture><\/p>\n

Over the past two years, ETC has not managed to see a significant recovery back to the $20 area. Even with certain events \u201chyping it up\u201d temporarily, the public interest in Ethereum Classic seems to be diminishing.\u00a0<\/span><\/p>\n

This could also be partially related to the bullish events that made Ethereum a lot more popular recently (<\/span>DeFi<\/span><\/a> space, <\/span>ETH 2.0<\/span><\/a>, etc.). ETH seems to be getting a lot of public interest and is able to upgrade regularly, resolving any issues that may arise.<\/span><\/p>\n

But that\u2019s not always true for ETC. Overall, the coin seems to bounce steadily between $3 – $6 for the better part of the last two years.<\/span><\/p>\n

Overview of the current price performance<\/span><\/h3>\n

On a closer look, it might be more relevant to explore ETC\u2019s 1YR chart. This will help us get a better understanding of where we stand and where we are headed.<\/span><\/p>\n

\"etc<\/path><\/svg><\/a><\/picture><\/p>\n

The first months of 2020 have been rather encouraging. From December to early March, ETC experienced a brief breakout towards the $12 levels (>300% increase in value).<\/span><\/p>\n

Note that the timeframe of this recovery coincides with the <\/span>Agartha<\/span><\/a> and <\/span>Phoenix<\/span><\/a> upgrade, which most likely acted as the catalyst to the coin\u2019s temporary growth.<\/span><\/p>\n

However, since the Covid-19 crash, Ethereum Classic is struggling. While we can see some local peaks occurring over the past few months, the price has lost all its bullish momentum.\u00a0<\/span><\/p>\n

On a positive note, the cryptocurrency is making higher lows since the beginning of this year, which hints at a potential recovery at some point in the future.<\/span><\/p>\n

This brings us to August, possibly the most difficult month for ETC since its creation.\u00a0<\/span><\/p>\n

Ethereum Classic has a tough time<\/span><\/h2>\n

In August 2020 alone, Ethereum Classic suffered <\/span>three consecutive 51% attacks<\/span><\/a>. The unfortunate events had a negative effect on both the price (-45%) and the overall community trust.<\/span><\/p>\n

The events in detail<\/span><\/h3>\n

First 51% Attack – July 29th – August 1st:<\/b> The first attacker generated 3693 blocks as a fork from block 10904146 till 10907740. He then broadcasted the blocks to other miners who, in turn, accepted them, replacing the blockchain\u2019s history with that of the attacker. As a result:<\/span><\/p>\n