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ETC 2018 price prediction: Will Ethereum Classic reach $40 this year (again)?

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Ethereum Classic
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In a market that’s been going steadily down for months, Ethereum Classic’s recent behavior is remarkable. The digital asset had some excellent days recently, at the time every other coin was losing value. 

It reached the eleventh place by market capitalization, leaving Tronix (TRX) and Monero behind and surpassing the 2 billion capitalization barrier. Then, it went down again, and it’s currently seemingly stable at the 13th spot.

However transitory that peak was, it’s made optimists out of Ethereum Classic‘s holders and even some neutral observers. They expect ETC to increase in value significantly before the year’s end (most predictions are for next November). This optimism is not just about that recent fluctuation in price but also because of some recent favorable developments that point to an increase in the token’s demand and value sometime very soon.

Not too long ago, Robinhood, a cryptocurrency trade mobile platform announced the adoption of Ethereum Classic in its platform which is now available in almost twenty states in the USA.

The app allows users to buy the supported cryptocurrencies in their mobile phone using credit cards as means of payment. Because of its portability and friendly user interface, Robinhood has access to many users that would otherwise avoid the crypto markets due to lack of expertise.

Then, there’s the Coinbase Pro listing. It’s happening. Ethereum Classic was scheduled to go live at Coinbase about a couple of days ago already. It is a massive development as it will give the cryptocurrency access to thirteen million new users. That’s a lot of new demand. Also, as ETC joins the Californian platform’s services, it will be the cheapest token available, which is probably going to make it attractive (or, at least, less intimidating) to new holders.

Both events make it so much easier to use fiat currency (USD in this case) to buy Ethereum Classic for so many new users in just a matter of days that the ETC market can only change for good because of the expansion. There is no doubt it’s a new room for growth.

Ethereum Classic at $40 by the end of 2018 looks realistic (but)

The most enthusiastic observers predict a bullish run so strong on ETC that it will reach a value of around 62 USD (which is roughly fourth of the current value). While this is, indeed, possible, it seems a little too optimistic, even in the light of ETC’s recent triumphs.

Other, more neutral observers, predict a more conservative (and more feasible) price of 40 USD (roughly a little over twice of its current value) and they also point out that this increase will bring ETC into the world’s top five by market capitalization. 

And that’s why it seems that they are overenthusiastic. While it’s true that, in the current market, such increment in price will put ETC in the top five, that prediction forgets an elementary fact: if it’s possible for ETC to grow that much that quickly, it can only be possible if the rest of the market is growing as well. 

The top five coins are not going to hold their value down as they wait for ETC to surpass them. That’s the problem with these predictions; they are predicated on the assumption that ETC lives in a void, which it doesn’t. 

But that’s not to say that Ethereum Classic (ETC) won’t perform well for the rest of the year. The Coinbase listing has eluded some of the most significant projects in Crypto such as Ripple, so while increases of 100-300% are a hard buy, there’s no doubt that ETC will probably do better than most other digital assets as the year concludes.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Maxpixel.net

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How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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gambling dApps
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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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