Ethereum Classic Price Prediction and Analysis: Amazing +25% increase! ETC listed on Coinbase. Tuesday, June 12
Important Ethereum Classic News
One of the biggest players on the cryptocurrency exchange market - Coinbase, has just announced that they will add ETC trading pairs on their exchange. The official announcement says: "We are pleased to announce our intention to add support for Ethereum Classic (ETC) to Coinbase in the coming months. We are announcing this both internally and to the public consistent with our process for adding new assets." It's also interesting that investors who had their GDAX accounts during 2016 Ethereum hard fork and didn't decide to withdraw their funds will receive a corresponding Ethereum Classic credit.
ETC Price Analysis
Bitcoin's Influence On The Market
In the last two days, the whole cryptocurrency market experienced a sudden and rapid fall, with Bitcoin going from more than $7680 to almost $6700 in a matter of hours. Many coins scored even up to -20% daily price change. The same thing applied to Ethereum Classic, which before the fall was confidently trading around $15 mark. It then suddenly got to $12 within a day.
Ethereum Classic Price Movement
Before the sudden cryptocurrency market fall, ETC price remained rather stable, as it wasn't heading in any direction, but instead it fluctuated near the $15 mark, with $0.5 price changes in both directions. The lowest it was $14.41, while on June 4th it even managed to get to $16.25.
The fall brought it down to $12 and what is very interesting is the recent and very sudden recovery. ETC managed to get back above $15 within a day, while the rest of the coins are still struggling and scoring +2%-5% in daily price increase. ETC on the other hand, got more than +23%. It peaked today at $16.22 and is now trading for $15.81.
ETC/USD Price Chart, Tuesday June 12th:
Currently, we may expect positive price movements thanks to the big listing announcement, however one has to note that it will take some time before ETC will be tradable on new exchange. When the listing of ETC on Coinbase is fully finished and successful we can expect high short term gains in price. It has a chance of doubling in the value temporary, however the price should stabilize within next days after it. Therefore, for a skilled trader there is some profit to be made. Coinbase listing will give a significant exposure to Ethereum Classic so it may affect its long term price in a positive, however not that sudden or significant way.
Follow TokenTops on Twitter to stay notified about new articles, cryptocurrency news, ICO announcements and price predictions and analysis.
Please remember that investing in cryptocurrencies should be consider risky and may lead to the loss of all of the invested money. For further information visit Terms and Conditions section on TokenTops.We do not encourage our readers to any kind of behaviour or financial decisions. We believe that everyone should make their own and in depth research on the particulat topic in various sources before making any financial decision and this person should be the only one responsible for the outcome. Our writers do their best to remain unbiased and don't actively support any project. The research is done with various sources, the predictions are based on own believes, other experts and community discussions, yet they cannot be considered any type of financial advise.
You may also like
Ethereum Classic News and Price Analysis: Coinbase Support of Ethereum Classic Takes Effect.
Ethereum Classic News And Price Analysis: ETC Loses 30 percent Since Coinbase Listing. Sunday, August 12
Ethereum Classic News And Price Analysis: Few Days to Coinbase Listing; How will it affect ETC Price? Monday, August 6
Ethereum Classic News and Price Analysis: ETC Half Year Report; Accomplishments and Future Plans. Sunday, July 29
Ethereum Price Analysis: The whole market is going down. ETH -7%, Swiss city to introduce Ethereum technology. Wednesday, June 13
Bitcoin Price Analysis: Why is Bitcoin down? Coinrail Hack and Possible Causes for Red Market. Tuesday, June 12
You need to login to create comments.