Ethereum Classic was a slow mover for a long time. Some were burnt badly if they didn’t have the needed HODL-balls, but now it is time for a return. Sure, some people are still badmouthing about this coin, which is the actual history of Ethereum. Ethereum Classic is the prior Ethereum. In the past, the Ethereum Foundation decided to hard fork into the so-called “The DAO Hard Fork” – but faced a major resistance by their community due to the actual thoughts behind the project. A part of the ETH community did not support this fork, so they decided to keep the classic Ethereum with $ETC alive.
Some technical analysts claim to have observed several similarities on the charts between ETH / ETC with a delay between those both, so it could be mimicking its recent growth and an outlook into the future of $ETC, but this is by far not all. Ethereum Classic has been undervalued for a long time and with the upcoming Callisto hard fork with free $CLO for $ETC holders, we can see a great catalyst which is going to give the coin the push it needs for a further rise.
Here are the reasons we are bullish for Ethereum Classic:
#1 Ethereum Classic Volume Rising
We think we could see $ETC in the top 10 of Coinmarketcap again after being some time below this mark. The trading volume has increased to 1.2Bln and the market cap is rising, approaching $4.2Bln
#2 Marketing Campaign in the back (?)
We don’t have anything officially confirmed, but we get a sentiment, that there is a force in the back trying to push $ETC recently more and more. Yes, we agree with the thoughts and the consensus of the bullish article by TheMerkle, though we noticed that it is a sponsored one. Maybe Ethereum Classic is willing to push through accelerate its growth by spending some money to spread the word?
#3 Miner support
Whilst the mining thing is not our domain, it is the talk that Ethereum miners plan to move over to Ethereum Classic once ETH has reached Proof of Stake. The support of miners is important for the future price growth.
#4 News, News, News
Ethereum Classic has much news to come. As they have a huge community, they will invest energy in their community building. A new forum, a revamped reddit, etc. Furthermore, the detailed Roadmap update that adds to the high hopes for the futures. See the huge amount of important news coming up soon:
#4 Three words: Callisto Hard Fork
The Callisto Hard Fork will come up with free $CLO coins for $ETC holders. If nothing else this should keep the price going up until beginning March. Everbody loves free money!Source: Ethereum Commonwealth development update (11 Jan, 2018)
#5 Google Trends & Social Volume
After a neat bull run in the last days, $ETC is cooling off a bit right now, which might be a good time to get in. We are gonna hold it until the Hard Fork nears and try to estimate the sentiment of the worth of $CLO to decide if it is worth to hold for the free coins or better to take profit. We spread buy orders between 0.003 to 0.0026 sat. Whilst technically it should be able to reach the 0.005 mark again, we saw in the past those hard forks with free coins can make the charts explode. So we prefer to let it run with an open target, taking out profit step-wise on every significant increase, leaving 20% in this trade at least until shortly before the hard fork.