Bitcoin and Ethereum, the two crypto giants, have nothing more to prove. However, according to the analyst, an additional piece could slip through unnoticed and undermine their monopoly.
A future storm for crypto?
Bitcoin and Ethereum, having survived the crypto winter well, continue to evoke hope and disappointment. After a long crisis, the rise of these popular works was greeted with joy. However, this phenomenon was short-lived and performance dropped again. Thus, a new coin can capture the favor of investors.
According to a crypto analyst at Coin Bureau, a rival coin could get close to the two giants. The latter will be none other than Ethereum Classic (ETH), the younger sister of Ethereum, also created by Vitalik Buterin. Priced at $24 at the time of writing, a challenger could quickly hit $40.
ETC is rising due to rumors that Ethereum Classic will benefit from the Ethereum merger. ETC was also one of the top performing cryptocurrencies last week, so I’ll reiterate what I said back then: be careful. However, if the daily uptrend is confirmed, ETC could hit $40 in the coming weeks.
Excerpt from Coin Bureau comments regarding the rise of Ethereum Classic
The rapid rise of Ethereum Classic, which tickles its big brother Ethereum but doesn’t have as much value, could allow the Ethereum ecosystem to become permanent. Through its many efforts in the field of updates, security and ecology, Ethereum stands out. Perceived as less erratic than Bitcoin, Vitalik Buterin’s project could take advantage of the success of all of its coins to gain more monopoly.
In any case, investing in Ethereum Classic based on these predictions or any other predictions is not recommended, especially in a still volatile market. For the most interested, it is preferable to invest only the amount that can be dispensed with in case of anxiety.
Not so predictable?
No matter what, it could be that Bitcoin gets back the hair of the beast. The price of bitcoin is slowly but surely resuming its downtrend, but this phenomenon may be temporary.
We see that BTC has entered a short-term bearish phase on the daily chart, which should end due to the massive decline caused by all the macro factors that will show up this week. […] This is why I personally believe that BTC could rise to $30,000 in August or early September after dropping this week.
Excerpt from Coin Bureau Remarks Regarding Bitcoin Growth
If the predictions turn out to be correct, Ethereum Classic may find it harder to make a name for itself. Bitcoin continues to survive at any cost, bearing the success of other cryptocurrencies on its shoulders. Meanwhile, the little orange coin continues to weaken in the face of Fed decisions that could raise interest rates.
Denial of responsibility
All information on our website is published in good faith and for general informational purposes only. Any action taken by the reader based on information found on our website is done solely at his own risk.