Ethereum Classic (ETC): All eyes are on the SEC right now, with regards to the CBOE bitcoin ETF application. Investors expect that such a pump in price could see the value of bitcoin (BTC) pump back to its all December highs. With the huge correlation between Bitcoin (BTC) and the altcoins market, investors are also expectant that altcoins will surge too. One altcoin that stands to gain the most in case the bitcoin ETF comes through is Ethereum Classic.
That’s because on top of a marketwide pump that that would hit the market in case of such a decision, ETC would also be supported by the upcoming Coinbase listing. This gives Ethereum Classic a double catalyst to pump harder than the rest of the market. The Coinbase listing is so fundamental that it has held Ethereum Classic stable, even as the rest of the cypto market dropped following the Bancor Dex hack.
On top of that, Ethereum Classic (ETC) has the advantage of price, amongst all the other coins that are listed on Coinbase. If bitcoin pumps and attracts attention from the mainstream media, newbie investors will flock back to the market, mainly through major exchanges like Coinbase. While doing so, they will also look to invest in coins that offer them the most coins per dollar spent. Of all the coins listed on Coinbase, Ethereum Classic once listed, will be the cheapest of them all. As such, it will be most attractive to new investors looking to put money in crypto in a rising market, further adding to its upward momentum.
Besides, Ethereum Classic has some interesting news coming up in its roadmap. One of the key aspects of this roadmap is the introduction of sidechains, aimed at solving the scalability problem of platforms blockchains. If the CBOE application is approved, it means that the Ethereum Classic sidechains news will be announced in a bull market, which would further pump up the price of Ethereum Classic.
That’s because looking back at crypto in the recent past, news only have an impact depending on the direction of the market. In a bear market, like that of the last 6 months, good news mean nothing. There have been lots of good news around different cryptos in the last 6 months, but they have had zero impact on prices. The gains have been marginal, but any slight bad news have sent the market dropping hard. The reverse also happens in bull markets, where good news create a multiplier effect to an already rising price. This means that the later part of 2018 and the whole of 2019 will be great for Ethereum Classic, if the CBOE bitcoin ETF becomes a reality.
As such, now is a good time to make well-timed investments intoEthereum Classic (ETC), in anticipation of this decision. Even if the SEC rejects the CBOE application, Ethereum Classic has the Coinbase listing supporting it. It’s still a win!