Bear with us because this is a bold claim, but we are sensing some optimism in the market and we want to make the most of it. In the next bull run, Ethereum Classic could climb 338%.
There’s two reasons and two bits of evidence to reinforce this claim. Firstly, Ethereum Classic is about to be listed on Coinbase. The announcement caused Ethereum Classic to spike. Once Ethereum Classic lands on Coinbase, interest will rise and with that, so will the market cap and value of the currency, that’s a given. This is an announcement that has caused a great deal of excitement within the Ethereum Classic community, but also holds great implications for other cryptocurrencies which aim to gain a listing on Coinbase, I.e. Ripple XRP.
The next bit of evidence, comes from a little review of the historical performance of Ethereum Classic, based on it’s four most significant price gains, all of which have been recorded over the last year. These price gains have all occurred within larger overall market surges so admittedly, in order for Ethereum Classic to rise 338%, we need to see a perfect market climate. The take home message is though, it’s entirely possible.
At the time of writing, Ethereum Classic is valued at $15.23, up 10.63%. Based on this value, a rise of 338% would see Ethereum Classic reach $66.80, more than $20.00 over its current all-time height of $43.00. Of course, an increase in the market cap of Ethereum Classic through a Coinbase listing would make this possible.
Historically, Ethereum Classic has made four major jumps. The first occurred when it moved from $2.60, up to $23.00, seeing gains of 748%. Next, Ethereum Classic moved from around $10.00 up to $43.00, seeing gains of 330%. Then, Ethereum Classic moved up from $17.00 to $42.00, a gain of 147%. Most recently, Ethereum Classic moved from $13.00 up to $25.00, seeing a gain of 92%.
If you take an average of these percentage rises, we find an average rise of this period, or 338%, hence reinforcing our initial claim. (This period is between the start of April 2017 and now).
Please remember that this is not investment advice. These calculations aim only to demonstrate the potential that Ethereum Classic has to rise, as it stands we cannot confirm that this will be the case, as, cryptocurrencies are volatile.
If you choose to invest in Ethereum Classic, please do your own prior research. Our reporting of historical figures and speculation regarding potential future movements can of course help to inform your research, however, we do encourage that you continue to do further reading to reinforce your investment decisions.