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#Ethereum Classic price Analysis

Reasons why Ethereum Classic has no future.

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Ethereum Classic was left behind and is a direct consequence of which the future of Ethereum Classic is dark. Here are some of the reasons elucidated.

Categorising the causes for the downfall of the Ethereum Classic network.

Why do some cryptocurrency projects fail?

There are ample of cryptocurrencies available in the market, but the only handful of them, travel through the semipermeable membrane of popularity and reach widespread acceptance. Crypto related transactions are irreversible, which is the major loophole in them and also an upper hand for the banking system. It is also estimated that, until the cryptocurrencies resolve this issue, the banking system would remain unchanged. It has also been observed that, without many fundamental applications, the market capitalization of projects reaches billions of dollars, which tends to create an imbalance in the society. Also, as too much speculation is involved in the process, the field is very sickening. Let us read about Ethereum Classic and why we think it is going to die soon.

 

Causes for the unpopularity of Ethereum Classic

Hard forked in July 2016, Ethereum Classic is prominently utilized for the transactions and also the internet of things. The bifurcation of Ethereum into original Ethereum Classic and the newer Ethereum led to the difference of opinion between the community members along with developers as well. However, the Ethereum Classic was left behind and is a direct consequence of which the future of Ethereum Classic is dark. Below are some of the reasons elucidated.

 

1. The development and roadmap of the Ethereum Classic blockchain don’t seem to be impressive, as the developers at the company constantly delay in fulfilling their promises. This is the first and foremost reason, behind the bad future for Ethereum Classic.

 

2. Due to its lesser popularity and acceptance in the Cryptoverse, the Blockchain project receives constant interferences for a bright future for Ethereum Classic.

 

3. Another pre-eminent reason for the downfall in the future for Ethereum Classic is that the developers of the original Ethereum Blockchain switched to Ethereum but not towards Ethereum Classic. Therefore, many updates which were supported on the new Ethereum network wasn’t supported by Ethereum Classic.

 

4. The constant development of the original Ethereum Blockchain with its recent conversion from Proof of Work to Proof of Stake, rendering Ethereum Classic community, huge amounts of pressure as they are consistently being unable to keep up with the growing requirements of the users.

 

5. It is also a very generalized notion that, the forks are usually unhealthy for the development of the cryptocurrencies. The best possible solution during a deadlock is, trying to find out an alternative in order to mitigate the problem, instead of undertaking a hard fork. Therefore, the future for Ethereum Classic wouldn’t mark a great Fiat.

 

6. Even the hashrate of the Ethereum Classic Blockchain accounts only to 20% of the cryptocurrency. This problem is highly unsustainable with respect to the future for Ethereum Classic as this would definitely have issues with its widespread adoption.

 

7. Even the staunch supporters seem to have lost fire, as the future for Ethereum Classic is in danger. According to experts, it has been estimated that the project would ultimately get lost, among hundreds of other cryptocurrencies that got lost before it. The supporters are backing of the project as no significant achievements have been unlocked since a very long time.

 

8. Despite its high volumes of trading, the Blockchain project has been receiving roadblocks ever since its initiation due to a myriad of reasons. The market fluctuations also had an adverse impact on the market value of along with the future for Ethereum Classic.

 

9. The blockchain project inherently doesn’t imply a major financial use case, but on the contrary, it is concentrated to improvise the Smart Contract based Internet of Things. In brief, the cryptocurrencies developed for such applications would not account to come, anywhere closer to major projects, which have the potential to become global currencies.

 

The brighter side of Ethereum Classic

The Ethereum Classic is also seeking developments, as they are trying to implement side chain solutions instead of incorporating the Proof of Stake consensus mechanism similar to that of Ethereum. The experts also predict that this is one kind of an implementation of the Lightning Network, where the transactions speed would reach skies.

 

Will Ethereum classic really fail?

The future for Ethereum Classic community might seem to be very vague but it is absolutely very certain that the future of the entire cryptocurrency market is heading towards development. The underlying Blockchain technology is what, that forms the supporting structure for the entire functioning of the cryptocurrencies to become hassle-free.

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#Ethereum

Vitalik Buterin is quitting Ethereum: Get ready for an ETH crisis

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Ethereum Price Downfall

From as high as $1347 in January 2018 to $187 in September 2018, Ethereum price could reach $53 soon.

The Ethereum network has been falling, as many heated discussions are being carried on in the name of development. The separation of Ethereum Classic from Ethereum was one of the major incidents which broke the backbone of the network.

 

The current price of the Ether is $225.24. Let's understand the background details of the price, since December 2017. Price history of Ethereum

 

Various inabilities of Ethereum

As the Ethereum network is slow, the decentralized applications which need faster transactional capabilities, would opt for the EOS blockchain platform and also the existing decentralized applications would quickly switch to EOS. Even the number of hacks and frauds have been increasing, in the Ethereum community. Most recently, a fake Instagram account of Vitalik Buterin, illicitly scammed few of its followers to send 37 ETH. Effective decentralization is unachievable, as Ethereum is inherently a Centralised one.

 

Do we have any value proposition for Ether?

As previously discussed that there is no requirement of ETH for Ethereum. The users and investors seem to be dropping down the usage of Ethereum these days, as better alternatives have been provided. The EOS is one of the best competitors for Ethereum,

 

The Captain (Vitalik Buterin) is leaving the Ship (Ethereum)

 

The discussion began as a component of an online argument in which individuals wound up blaming Vitalik Buterin for pumping Ethereum. He asserted that the Ethereum system could do well on itself and that it would have a future regardless of whether he was not able to keep on adding to it.

As you may know, Vitalik Buterin has a considerable amount of Ethereum. He was blamed for “pumping” his ETH property, which was to a great extent pre-mined and when inquired as to whether he was intending to take a secondary lounge later on of the benefit, he answered this was at that point in advancement and that the system would necessarily do well without him.

 

Vitalik Buterin says Ethereum Sucks

Responding to the article from Techncrunch that said “The collapse of ETH is inevitable”, Vitalik agreed on his post on Reddit on aspects of this article.

Vitalik even said that the days of Cryptocurrency markets (in short Ethereum) are now history.

 

Ethereum price declined as of late against the US Dollar and bitcoin. ETH/USD may maybe keep on declining towards the $180 level in the close term.

 

Buy ETH at $53

What we suggest is buy ETH at the range of $45 – $55, when it tests its $53 level.

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#Daily Price Analysis

bad days for ETC? Ethereum Classic Price Analysis 27 Sep

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Ethereum classic price is amending lower. ETC/USD is probably going to discover offers close to the $10.80 and $10.70 levels.

Ethereum Classic Price Key Features

  • Ethereum classic price began a drawback revision from the $11.80 swing high against the US dollar.
  • There is a noteworthy bearish pattern line set up with resistance at $11.10 on the hourly outline of the ETC/USD pair (Information feed through Kraken).
  • The pair could keep on moving down towards the $10.80 and $10.70 support levels in the close term.

Ethereum classic price is amending lower against the US Dollar and Bitcoin. ETC/USD is probably going to discover offers close to the $10.80 and $10.70 levels.

 

Ethereum Classic Price Supports

After a better than average upward move, Ethereum classic price discovered resistance close to the $11.80 level against the US dollar. The ETC/USD pair began a drawback adjustment and moved beneath the $11.50 and $11.00 support levels. It exchanged near the $10.40 support and later ricocheted back. ETC price tried the $11.40 level and is as of now amending lower. It is exchanging underneath the $11.20 level and the 100 hourly basic moving normal.

Ethereum Classic merchants as of late pushed Ethereum classic price towards the half Lie retracement level of the last wave from the $10.38 low to $11.36 high. Be that as it may, misfortunes were contained beneath the $10.80 support. Beneath this, the following significant support is near $10.75. It agrees with the 61.8% Lie retracement level of the last wave from the $10.38 low to $11.36 high. In the event that there is a break beneath $10.70, the price could retest $10.40. Then again, a break over the $11.10 level and the pattern line will probably drive ETC price towards $11.50.

 

ETCUSD Price Chart 27 September

ETCUSD Price Chart 27 September

 

The graph proposes that Ethereum classic price stays supported close $10.80 and $10.70. On the upside, purchasers need to pick up energy above $11.10 for a broadened upward move towards $11.50 or 11.70. The most vital resistance on the topside is close to the $11.80 level, which counteracted gains on numerous events.

Hourly MACD – The MACD for ETC/USD is set in the bearish zone.

Hourly RSI – The RSI for ETC/USD is moving lower towards the 40 level.

Real Support Level – $10.70

Real Resistance Level – $11.10

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#Daily Price Analysis

Ethereum Classic Price Analysis: ETC/USD under pressure, 13 Sep.

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Ethereum classic price as of late discovered support. ETC/USD is recuperating, however upsides could be topped by $11.00 and $11.20.

Ethereum Classic Price Key Features

  • Ethereum classic price is experiencing strain underneath the $11.20 and $11.40 resistances against the US dollar.
  • There is a declining direct set up with resistance at $11.00 on the hourly outline of the ETC/USD pair (Information feed by means of Kraken).
  • The pair stays at a danger of more decays as long as it is underneath the $11.00 and $11.20 resistances.

Ethereum classic price as of late discovered support against the US Dollar and Bitcoin. ETC/USD is recuperating, however upsides could be topped by $11.00 and $11.20.

Ethereum Classic Price Resistance

There was a drawback expansion in Ethereum classic price beneath the $11.00 support territory against the US dollar. The ETC/USD pair declined underneath the $10.50 and $10.25 support levels. It exchanged as low as $10.15 before purchasers showed up. Afterward, there was an upside remedy and Ethereum Classic price moved back above $10.50. There was likewise a break over the half Lie retracement level of the last decrease from the $11.49 high to $10.15 low.

In any case, the upside move was topped by the $11.00 resistance zone. Also, the 61.8% Lie retracement level of the last decay from the $11.49 high to $10.15 low halted the upside move. There is additionally a declining divert set up with resistance at $11.00 on the hourly graph of the ETC/USD pair. Over the channel resistance, the 100 hourly SMA is put close to the $11.10 level. In this way, it appears as though it won’t be simple for purchasers to clear the $11.00, $11.10 and $11.20 resistance levels. On the off chance that there is a crisp decrease, the $10.40 level is an underlying support.

ETCUSD Price Chart 13 September

ETCUSD Price Chart 13 September

The graph recommends that Ethereum classic price could slide again in the event that it neglects to move past the $11.20 resistance. Above $11.20, ETC price may well ascent back towards the $11.80 and $12.00 levels in the close term.

Hourly MACD – The MACD for ETC/USD is marginally set in the bullish zone.

Hourly RSI – The RSI for ETC/USD is right now moving lower towards the 50 level.

Real Support Level – $10.40

Real Resistance Level – $11.20

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