Chart for ETC / USD (1W)
Ethereum Classic (ETC) is the currency to be charged during the current market correction. As the old saying goes, "Buy when there is blood on the streets, even if blood is yours", investors of Ethereum Classic (ETC) clung to their coins and accumulated more during the correction . The Ethereum Classic (ETC) investor community is not very large at this point, but it is certainly one of the most experienced and meticulous. This means that most of them will not invest in something because there is much hype around it or people are rushing to buy it. They are more concerned with the fundamentals of a project because it is what is difficult to achieve and change. Sentiment and clamor do not require time to change.
When Ethereum (ETH) became extinct from the original chain and Ethereum Classic (ETC) was born, investors in the original Ethereum ended up with two coins: ETH and ETC. Thus, when most of the extraction and development teams switched to Ethereum (ETH), they began to discharge the Ethereum Classic (ETC) coins. There are many reasons for this. Of course, some of them wanted to virtually kill Ethereum Classic (ETC) because they did not support the fork, so they pulled out their revenge on the coin. They kept downloading tons of their coins on open trades whenever Ethereum Classic (ETC) saw a peak.
Igor Artamonov and the rest of the ETC Dev team did not worry about the price. If they did, they would have supported the fork, switched to the new chain (ETH) and earned a lot of money. Instead, they decided to stick to hard work and principles. With their struggle and perseverance, they not only managed to bring a dead project back to life, but made it an emerging competitor of Ethereum (ETH). That is why, for the first time since the inception of Ethereum Classic (ETC), we have seen Ethereum Classic (ETC) start a bullish trend against Ethereum (ETH). It is very likely that this eventually reaches a point where the true excruciating occurs, ie Ethereum Classic (ETC) which exceeds Ethereum (ETH) in the market capitalization.
Chart for ETCUSDShorts (1W)
The sentiment has been against Ethereum Classic (ETC) since its inception. A lot of people believed it was a dead project, those who did not think so would believe it was a scam. So, it comes as no surprise that when exchanges like Bitmex and Bitfinex started offering ETCUS shorts, many people took part in the action. In fact, if you look at the chart above for ETCUSDS shorts, it looks like a table for shorts you might not find for any other coin. Bitcoin (BTC) has seen an increase in the number of shorts and then a fall, Ethereum (ETH) has seen the same, and so has Ripple (XRP). However, for Ethereum Classic (ETC), the number of short films has increased significantly.
If we are more realistic, we would say that the sentiment has been against Ethereum Classic (ETC) since its inception and Ethereum Classic (ETC) has not seen any love from the cryptic community. First, people downloaded us, and then they called a scam coin and a dead coin. Now that people have risen from the ashes, people are beginning to understand that it's here to stay. The list of Coinbase in particular has had a big impact on the change of hearts and minds. The crypto community for the first team from the beginning of Ethereum Classic (ETC), considers it for its merits rather than being just another Ethereum. The chart above for ETCUSDShorts shows that the number of shorts is about to come out of a growing wedge down. This is an important development that would raise the Ethereum Classic (ETC) to a major bearish attraction for the first time in its history. With all the events and developments awaiting us, Ethereum Classic (ETC) is on track to see its greatest success in its entire history.