Here Is Why Ethereum Classic (ETC) Could Reach $500 By Dec 2018

Ethereum Classic (ETC) is known for a lot of things. It is known as the original Ethereum blockchain. It is known as the smaller, less popular version of Ethereum (ETH) and it is known as a forgotten coin which I admit is extremely boring to trade. However, if history is any indication, we have seen Ethereum Classic (ETC) to achieve the most gains in a narrow window of just a few weeks. This trading behavior of Ethereum Classic (ETC) coupled with the ease of storing and transferring it to and from wallet to exchange has convinced many cryptocurrency investors to hold Ethereum Classic (ETC) long term. Ethereum Classic (ETC) ranks #1 in terms of algo score according to Coincheckup.com with a score of 4.68/5. The second in line is Monero (XMR) with a score of 4.53/5 whereas Bitcoin (BTC) has a score of 4.39/5 and Ethereum (ETH) has a score of 4.29/5. This is a measure of how solid Ethereum Classic’s tech is compared to other cryptocurrency projects. It should be no surprise to see why Barry Silbert of Grayscale has a portfolio of $65 Million allocated to Ethereum Classic compared to $26.9 Million for Ethereum (ETH). Ethereum Classic (ETC) is also supported by Charles Hoskinson, CEO of IOHK. In addition to that, ETC Dev works on the project as one of the most competent developers in the blockchain industry. This is why Ethereum Classic (ETC), despite its meager resources, ranked #4 in terms of work done on its blockchain last year. Ethereum Classic (ETC) believes in immutability and a truly decentralized blockchain. This is why a lot of investors hold Ethereum Classic (ETC) out of principle. Recently, Ethereum Classic (ETC) came up with its own wallet, the Emerald Wallet. While Ethereum Classic (ETC) may rank as the 17th coin in terms of market cap, it is just getting started. According to Charles Hoskinson of IOHK, last year was just about survival of Ethereum Classic (ETC). He said in an interview that when Ethereum (ETH) hardforked and most developers and investors switched to the new coin, Ethereum Classic (ETC) was left with nothing. He further said that it was hard to just survive but the efforts of loyal supporters of the cause of immutability and transparency and those who believed in vision of the real Ethereum, made it possible to keep the blockchain not only relevant but make enough progress to be ranked as the fourth coin in terms of progress made. Ethereum Classic (ETC) has a market cap of $1.75 Billion whereas Ethereum (ETH) has a market cap of $68.38 Billion. That is a difference of 39 times! The difference between Bitcoin (BTC) and Bitcoin (BCH) is just 7 times. While Bitcoin (BTC) and Bitcoin Cash (BCH) may have significant technological differences, Ethereum (ETH) and Ethereum Classic (ETC) do not have any significant differences apart from the number of ICOs built on Ethereum (ETH). In all fairness, Ethereum Classic (ETC) might even be superior to Ethereum (ETH) in terms of tech, approach to Proof of Work/ Proof of Stake, consensus, governance and scalability (ETC’s Callisto Sidechain). Ethereum Classic (ETC) is also more attractive for miners. All things considered, we believe that it is just a matter of time when the unrealistic gap in market cap between Ethereum and Ethereum Classic (ETC) is bridged. A price of $500 for Ethereum Classic (ETC) by the end 2018 will place it at a market cap of $50.7 Billion which does not seem surprising at all for a project like Ethereum Classic (ETC).