If you're new to the world of cryptocurrency and
seeing the name Ethereum Classic may confuse you. You might have seen Ethereum being traded. You
could be wondering if they were in fact the same. Ethereum and Ethereum classic are two separate
cryptocurrencies but do share similar frameworks. They were once a singular cryptocurrency after an
incident in 2016 where a hacker stole 50 million dollars from them. There was an inevitable split
as half of the company wanted to go in a different direction.
They thought that would be safer.
Ethereum Classic is still focused on being a decentralized currency and still has people loyal
to it. However, Ethereum has gone in a different route and is now not only a cryptocurrency but
also a developer tool that many major companies such as Microsoft use. This is led to many people
jumping ship to Ethereum as it has more name-value along with its new business model. It is much
safer in the event of a crypto market crash. People do still trade in Ethereum Classic although
it isn't worth as much as Ethereum these days. Ethereum price as of now is 533 Australian
dollars. Ethereum Classic as of now is 7.52 Australian dollars. We already know from the most
recent crypto research report that Ethereum will show an increase in value over the next five
to ten years but what about Ethereum Classic? According to the economy forecast agency, Ethereum
Classic will not show much of an increase going into 2021.
In fact, we will see a small dip
throughout the year by December of next year. Ethereum classic will be worth 3.32 cents its high
will come in February where it will reach 5.41. This is concerning for anyone who
is still trading in Ethereum Classic as there does not appear to be any kind
of spike coming within the next year. Should you sell your Ethereum classic now? As it
stands with the predictions, it would be best to sell now and at the latest in may of next year
as after that we will see a consistent decline over the next two years. The market could
always change due to unforeseen events such as the crash of Ethereum but just going
by the predictions it might be time to sell it. Just to reiterate these are only predictions
and should be taken with a grain of salt.