The rebound of the largest cryptocurrencies by market capitalization is showing the asset class healing from a few major setback from the last two weeks. Ethereum Classic (CCC:ETC-USD) is a favorite among investors. Seen as a cheaper Ethereum (CCC:ETH-USD), ETC is one of the biggest gainers today. But what are Ethereum Classic (ETC) price predictions pointing to in terms of value?
Ethereum Classic is a fork of Ethereum which spawned in 2016. Offering increased security from the progenitor Ethereum, and sacrificing the huge efficiency upgrades Ethereum received from its 2.0 overhaul, the ETC coin slinked along in value for the last four years.
But recently, it has gotten a boost from investors looking for a “cheaper Ethereum.”
Ethereum’s success in the last few months has sent investors frantically seeking out the next crypto to blow, as they missed the bus on the original.
The “Ethereum-Plus” class of cryptos has come to include the many forks of ETH, as well as complementary chains like Polygon (CCC:MATIC-USD) that seek to correct issues within the original ETH ecosystem.
Ethereum Classic (ETC) Price Predictions: Can ETC Keep Its Momentum?
Ethereum Classic is one of the plays investors are jumping on from Ethereum’s popularity. As a result, it was rapidly driven to a $176 all-time high before last week’s crash. Today, it is on the mend, gaining over 30% on the day’s session. Coins are exchanging at $77.44. Trading volume is spiking as well thanks to interest Ethereum-Plus plays; volume is up by nearly 50% on the day.
Is Ethereum Classic going to keep up the momentum of investor hype? Can it reach that $176 all-time high once again? Let’s see what analysts are predicting:
- The Economy Forecast Agency is only somewhat bullish on ETC. The outlet is predicting highs of $97 for the coin this year, before ultimately closing out 2021 at $94.60.
- DigitalCoinPrice is another ETC bull, but they do not see the coin reaching its near-$200 all-time high. They are predicting ETC to climb as high as $120 through the end of the year.
- Opposing the bullish take are a few bears predicting losses by next May. WalletInvestor, as well as Gov Capital, both put out their 12-month predictions, and they don’t look good for ETC. Predictions from both outlets for May 2022 suggest a $66 price point.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.