Ethereum Classic (ETC) has recently been an object of interest for crypto investors, not only for its tech and support but also for its investment opportunities. After a short-lived sell off, buyers rushed in to pump life into this seemingly ‘dead’ coin of mysterious attributes. The team behind Ethereum Classic (ETC) has yet to learn plenty about marketing and promotion. Their posts on Twitter are mostly repetitive and lack professional standards. While it is understood that a lot of money went to Ethereum (ETH) after the hard fork and Ethereum Classic (ETC) was left abandoned, it is no excuse for its lack of proper presence in the crypto community especially when coins with a smaller market cap like Lisk (LSK) are doing an exceptionally brilliant job at promoting their project.
Ethereum Classic (ETC) has done a lot of work on the tech side and was the fourth ranked coin in terms of tech advancement in 2017. However, all that work and effort will have little impact without it being brought to the limelight. A project with this kind of potential should do more to bring its work to investors’ attention. It is true that those who understand the tech behind the project and follow its Github regularly already hold ETC but most crypto investors are not tech savvy enough to follow Github accounts and see progress made for themselves.
Having said that, I think Ethereum Classic (ETC) is gearing up to start working on that side of things now that they have achieved a major technological victory in the form of the recent Emerald Wallet. This could truly be a game changer. An official wallet will serve as an instrument of confidence for prospective investors who have long been considering getting into ETC. One thing to note though is that Ethereum Classic (ETC) being the 16th largest coin by market cap just came up with its official wallet this year. It means that Ethereum Classic (ETC) is just getting started. The team behind ETC comprising of IOHK and ETCDev are the kind that like to secure all ends before launching a project.
The price currently trades at $21.26 after rejection at a strong resistance. The price initially broke the resistance and looked bullish but with a selloff in Bitcoin (BTC) the price fell back to lower levels looking to test the resistance again. A breakout from here will most likely be a quick one and will see the price rising close to around $43 which is another strong resistance. Long term the price action looks extremely bullish and Ethereum Classic (ETC) continues to be one of the most overlooked and undervalued projects in the crypto market. The cryptocurrency failed to complete its bull run during the last altcoin rally and surrendered its gains to Bitcoin’s fall. The same happened recently when despite breaking a major resistance, it fell down with Bitcoin (BTC). The irony is that there have been times when the price of ETC remained steady despite a drop in BTC. Such mixed signals on this coin have been another reason why traders have ignored it for the most part. However, long term prospects seem brighter than ever and for investors looking to profit in a year’s time off ETC, it still remains a great investment.