Ethereum Classic, a currency many hail to be the 'Original Ethereum' is among one of the most popular cryptocurrencies in the markets. Ethereum Classic took a backseat after the Ethereum platform forked and ETH was created. Despite being out of the limelight, the currency has a large number of backers and continues to be among the top-20 cryptocurrencies (currently ranked 16th).
A large number of people have invested millions of dollars into the currency and many eyes are on the Ethereum Classic price updates! Ethereum Classic, over the past 24 hours, has fallen by 5.28% as the currency currently stands at $13.74. Ethereum Classic price opened the day at $14.50 and with a market cap of $1.46 Billion. At the end of the 24 hour period, the currency's market cap was $1.39 Billion and the price was $13.84.
If the 24 hour period looks bad for Ethereum Classic price, the broader picture is even worse. The currency started the week at a price of $18.45 and with a market cap of $1.85 Billion. The market cap has since fallen by almost $450 Million and the currency's price has fallen by $4 over the week. The price at which the currency closed the week ($13.84 Billion) was the lowest point for Ethereum Classic price over the week.
If market experts are to be believed, an analysis of the Ethereum Classic movement over the graph reveals that the currency may continue this free-fall of the price till late-April. The price is expected to fall to a low of $7 – which is a 50% fall from where the currency currently stands! It would be a very risky time to invest into Ethereum Classic at this point in time.
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Disclaimer: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advice.