Ethereum Classic (ETC), the virtual currency that experienced one of the most contentious halvings in the crypto market, seems to get ready to enter a new bull market in the coming years. 2020 started as a bullish year for virtual currencies, specifically for altcoins, which have grown in both fiat and BTC terms. Now, investors are wondering which is going to be the new highs that ETC could reach this year. At the time of writing this article, Ethereum Classic is the 17th largest cryptocurrency in the market with over $1.02 billion market valuation.
One of the main issues related to crypto projects in the space is related to how they are able to handle their investments. Development and innovation are two of the main things these projects should focus on and Ethereum Classic is not the exception. Ethereum Classic is going to be funded by Barry Silbert, the CEO of Digital Currency Group. This firm is investing large amounts of money in the crypto market and the ETC project is going to be benefited by this.While many projects have a lack of funding, ETC shows it is ready to get funding for expanding its solutions and products to developers. This is going to be very positive for the future price of Ethereum Classic.
Ethereum Classic is getting closer to other projects, specifically Ethereum. These two projects got separated after the DAO hack that affected them in 2016. Nowadays, each of them took a different way and the communities started to argue about which was the network that better represented Ethereum’s initial ethos. Now, there is a certain effort of bringing the communities together, which could help them get additional funding and improve their solutions for individuals. Considering there are thousands of projects in the space, it will certainly be important for both the ETC and ETH communities to work side by side. This is not guaranteed to have a positive effect on Ethereum Classic’s price, but it will totally help the project move forward in the market and attract a larger number of users.
As Bitcoin is getting ready to halve once again, the whole crypto market seems to be moving forward. Indeed, Bitcoin will be reducing its reward for miners from 12.5 BTC per block to 6.25 BTC per block. This could be very bullish for Bitcoin and the whole crypto market. In this way, Ethereum Classic’s price could move higher and reach highs not seen in several years. Investors should take into account how Bitcoin evolves to better plan their investments or diversify their portfolios. Ethereum Classic could reach its highest price since May 2018 if it is able to surpass $19 per coin. As mentioned before, each ETC can now be traded for around $8.77. This is why it is very important to see whether the bull market in the crypto space - related to Bitcoin’s halving - has the necessary strength to push this virtual currency to new highs.
One of the most profitable ways of entering the crypto market is to do so with AltSignals, which is one of the most popular crypto trading signals providers in the world. This firm is going to be providing you with the latest trading signals that would help you enter and exit the market at the correct time. Although this seems very useful only for newcomers, expert traders could leverage these signals to confirm whether their positions were correct or not. AltSignals is working in several exchanges, including Binance and BitMex. These two exchanges are two of the largest in the world and provide users with large liquidity to trade virtual currencies. This would help individuals have a better approach to Ethereum Classic, one of the fastest-growing cryptos in the world. At the same time, BitMex users will be able to leverage their funds and trade with margin.
This article aims at showing how Ethereum Classic is performing in the market and how it could continue growing in the future. Considering this year started with a bull market in the crypto space, traders are very enthusiastic about the future of this project. Disclaimer: The information provided by AltSignals and its writers shouldn’t be considered investment advice. All the data shared in this article is for informational and educational purposes. Never invest more than what you are able to lose.
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