As bitcoin (BTC) inches closer to $ 5000, it is pulling the altcoins market with it, and Ethereum Classic (ETC) is no exception. In the last 24 hours, Ethereum Classic (ETC) has fallen below the support level of $ 7, an indicator that if current conditions persist, it could reach lower levels within the week. However, these are just short-term shocks. From a longer-term perspective, Ethereum Classic has a good future ahead of it. In fact, if its foundations are something to be based on, then Ethereum Classic (ETC) could suffer a significant rebound in the next round of cryptocurrency.
A key factor that could increase the value of Ethereum Classic (ETC) is its immutability. This simply means that Ethereum Classic (ETC) accounts can never be changed. This is a fundamental part of its value, just as if it were a key segment of the value of bitcoins. The reason why it is so important is that investors can always be sure that their Ethereum Classic is there forever.
No one can ever vote to take him away from them through social consent. In the first place, it is the essence of the whole existence of cryptocurrencies. As more people understand the value of the crypto and how they can protect them from what happened in 2008, when banks have taken deposits from investors, the value of the immutable chains will grow. Ethereum Classic (ETC) has shown in its history that it can adhere to this principle, which is a great advantage for its future value.
The other key factor that ensures the rise of Ethereum Classic (ETC) is its utility. The value of using Ethereum Classic (ETC) is not just speculative, it's real. There are Dapps who are already building on the ETC blockchain. The Ethereum Classic (ETC) laboratories also funded entrepreneurs who were trying to create Dapps on the ETC blockchain. This over time will increase the number of Dapps in the ETC ecosystem and, as a result, will increase its value.
Another factor that makes Ethereum Classic (ETC) a good bet is the team. The Ethereum Classic (ETC) team is one of the most technically competent in the blockchain space. It is very similar to that of the bitcoin core. This is not an exaggeration considering that the IOHK team, led by Charles Hoskinson, is part of the Ethereum Classic team. This ensures to a large extent that all developments related to Ethereum Classic (ETC) will always be valuable.
With such solid fundamentals in support, there is no doubt that Ethereum Classic (ETC) will make a strong comeback in the next Bull Run. Furthermore, it is available on most major exchanges, including Coinbase. This ease of accessibility will play an important role in increasing its long-term demand. This is because once the market becomes optimistic and FOMO investors, the cryptos accessible through the main platforms like Coinbase will benefit the most. Therefore, this may be the time to look more closely at Ethereum Classic (ETC) and do not flee. Once it gains bullish momentum, it could push up to the highs of 2017, and possibly higher, based on its improved fundamentals.