What Will Happen If Ethereum Classic Hits Coinbase During A Bull Run, ETC At $50 +?
There are three things we know about Ethereum Classic. Firstly, Ethereum Classic is a fork of Ethereum (or is Ethereum a fork of Ethereum Classic? Hm) secondly, Ethereum Classic is going to be listed on Coinbase. Lastly, Ethereum Classic is up and coming, itâs a big player that is getting bigger, and thus is one to watch.
Now, we know that Ethereum Classic will be the next cryptocurrency to be added to the Coinbase exchange, a listing that is sure to see a surge in the price of the currency. Put it this way, when Coinbase initially announced that they would be listing Ethereum Classic in the future, itâs value spiked from $12.89, up to $17.19 and has continued to grow ever since.
Historically, when a cryptocurrency achieves a listing on an exchange as big as Coinbase, itâs price accelerates. Letâs take Bitcoin Cash for example, which was listed on the 19th of December 2017. Prior to the listing, Bitcoin Cash was valued at $1825.93, in the days after the listing, Bitcoin Cash reached $3,787.04. This is a climb of 107.5%.
With this in mind, we can assume that the same will occur within Ethereum Classic, of course, it might not spike 100% given that Coinbase is now set to complete a number of other listings too, but we can be certain that one way or another, when Ethereum Classic goes live on Coinbase, its price will change.
When will the listing go live? Well, according to the official Coinbase post regarding the matter:
âPer our public process for adding new assets, we will now begin the engineering work for supporting Ethereum Classic. As part of this process, customers can expect to see public-facing APIs and other signs that the asset is being added. When we reach the final testing phase of the technical integration, which we expect to occur over the next few months, we will publicly announce a launch date for trading via our blog and Twitter.â
You can see the full post for yourself, here.
In short, we donât know when it will go live, but we expect it will be in the next month, given that Coinbase are already working on it.
Now, letâs tie this in with the idea of a looming bull run and honestly, something very special could be about to happen here. Please do bear in mind that this is just speculative. If you choose to invest, do so based on your own prior research.
During historic market surges, Ethereum Classic has seen gains of 107% and 341% (recorded recently, during the cryptocurrency boom at the end of 2017). This hits an average price surge of 224%. Based on the current price of Ethereum Classic, at $16.48, a 224% price surge would see its value reach around $53.50.
If Coinbase list Ethereum Classic during such a surge, and Ethereum Classic seeâs a similar surge to that of Bitcoin Cash during the initial listing, then a total price of $100.00 for Ethereum Classic really isnât so unrealistic.
Now of course, this depends on absolutely perfect conditions and thus, we canât guarantee any of this. We do however believe that if the markets do swing upwards, the eventual Coinbase listing of Ethereum Classic will have great consequences. Remember though, this could change in an instant. This isnât investment advice, itâs just an optimistic outlook.