I am always trying to look for great opportunities to invest in the cryptocurrency market. At this moment there is 1 of the big topcoins that I think can make a huge jump very soon. The coin I am talking about is Ethereum Classic. I know there is this big fight between the ETC and ETH community. But honestly, as an investor I don't really care. Of course I have some coin picks that I prefer as a longterm investment. But I also try to look at some good shortterm investment opportunities and I don't really care if I like the coin or not.
Why will Ethereum Classis shoot up ?
Always remember that I can't see the future and that I can be wrong but I will tell you the logic why I think Ethereum Classic might soon shoot up. I am thinking here in terms of doubling or even trippling. But as always there are no absolute guarantees in investing. But I can tell you that I jumped in ETC yesterday and I did it for the following reasons.
First of all, crypto is going up and has now confidently passed 100 billion marketcap recently. So odds for ETC to go down are small at this moment. Secondly, the price of Ethereum Classis has always been 1/10 of the Ethereum price. Now, I do realize Ethereum has been added to 2 big Chinese exchanges recently so maybe the 1/10 will change now. But no matter if it stays 1/10 or becomes 1/20 or whatever other ratio, point being is that Ethereum Classic didn't follow Ethereum's price surge in the last few weeks. This increases the odds of a serious jump occuring in Ethereum Classic soon.
From a technical analysis point of view Ethereum Classic also looks like it will go up as it is about to break its bull pennant as you can see in this picture. Now maybe very experienced technical analysis people might claim that my lines are not 100 % correctly drawn but that doesn't really matter because drawing the lines perfectly will lead to the same conclusion. Also if you look at the ETC chart you can really see that in the last days price fluctuations were becoming smaller and smaller also behaviour typically indicating a breakout.
I also checked the Twitter page and I found some interesting news on it only adding more support to a serious breakout:
https://twitter.com/eth_classic?lang=en
Ethereum Classic has recently been listen on exchanges hitBTC and etoro allowing more money to flow into Ethereum Classic. Soon there will also come out ICO's on Ethereum Classic which will also allow more money entering into ETC. Given all this data I think that currently ETC is the topcoin with most prospects of making a very high jump in price. And given ETC still has a relative low marketcap this breakout can be explosive. If you think my reasoning makes sense, you know what to do.