Ethereum Classic (ETC)Due to its price structure, it has always been a topic of debate among investors, raising the question of whether it is still a viable investment choice. During the bear market in the cryptocurrency world, counterfeit currency investors have been striving to maintain their strength
Ethereum Classic (ETC)Due to its price structure, it has always been a topic of debate among investors, raising the question of whether it is still a viable investment choice. During the bear market in the cryptocurrency world, counterfeit currency investors have been striving to maintain their strength.
Ethereum Classic Review
When creating investment portfolios, investors can diversify their wallets and invest in different types of cryptocurrencies. They can exploreProof of Equity(PoS) Network andproof of work (PoW) ETCProof of Equity
ETC also has other advantages that differentiate it from its competitors. Its connection with Ethereum, the king of counterfeit coins, gave it a strong position. The existence of this connection alone can encourage investors to accumulate some ETC during bull markets. However, the volatility of the cryptocurrency market has increased uncertainty and rumors.
The Future of ETC
Driven by strong demand, Ethereum ClassicMay rise in future bull markets. However, as of now, there seems to be little demand for counterfeit coins. ETC has experienced a steady decline since the beginning of 2023, forming a pattern similar to that of 2022.
The ETC long air battle is still ongoing. As of the writing of this article, the trading price of ETC is $14.94. This situation may bring hope to bulls as long-term support still exists.
Another noteworthy point here is that the support position has been tested multiple times. These tests may indicate that prices are likely to rebound from this level, preparing for the next potential rebound.
However, the question in investors' minds is whether ETCs will return to the same level of support. As of now, although the overall mood has declined since early October, there has been a certain degree of recovery. What is striking is the lack of strong interest in counterfeit coins among people.
The insufficient trading volume of ETC can also be interpreted as a reflection of this situation. As of the time of writing, data shows that the trading volume of counterfeit coins has reached its lowest level in the past four weeks.
Although the positive financing interest rate indicates a potential recovery in demand, at the time of writing, the spot demand for counterfeit coins is significantly lower. Therefore, the short-term price expectation of counterfeit coins seems to continue a downward trend.
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