ETH ETChi,
made this for a request in a comment.
(- i expect both charts to cross again sooner than later but both short.)
I dont trade ETC.
To me the Crypto crashing events in summer 2016 may all be connected
1. TheDAO theft => 2. ETC pump => 3. Bitfinex theft. (+ Settlements at peak of ETC pump!) => 4. Monero pump (Annoymous destination for stolen money?)
ETCETH
My guess: most noobs don't what to do with ETHNice support and resistance megaphone coupled with the ETH hype and fud cylces. Also strong VPOC and 61.8% fib retrace of the dump is about 2X from here for those interested in AT LEAST doubling their ETH stash. Blow-off top on ETH could be signal for aggressive entry on this pair.
Regarding fundamentals: If you're not aware yet, ETH is centralized and appeals to banks and business who will probably overrule the mining/staking power and take control of the network consensus algorithm at their will. ETC is founded on what made ETH great: decentralization, immutability, and low startup costs for DApps. Deploying smart contracts on ETH is simply too costly right now in comparison for what are usually mom's garage operations prior to a successful ICO. The human intervention on ETH is no different from the current banking and economic system and their ruler's own personal interest/influence. Yellen's IRA is like the Ethereum Foundation's wallet, same same. If you don't know this stuff, you probably just chased the hype and now don't know where to turn, OR maybe you're in so much profit that you've been reducing risk and your cost basis is negative now. Congratulations either way, now stay smart and watch out for greed. Whoa, that was long..
ETHETC: Watch these price targets and time targetAs much as I dislike ETC, the chart here shows some levels where price could reverse...as well as the time target expiration for the last rally in this pair. Overall, I am in favor of investing in Vitalik Buterin's project, so, from day 1 I didn't think ETC was a good thing to hold. The chart has proved me right thus far, but at one point, it might become a good 'Ethereum hedge' in case of a top in the rally.
This could coincide with the point when the monthly trend tops in ETHEUR, so it wouldn't surprise me if that's the case.
Just set some alerts here, and stay ready for updates. It might just keep going until the time expires, then we would need to revisit the chart and track progress and update the fundamentals.
Cheers,
Ivan Labrie.
Long - ETUSD till 3$ - TradeBlock’s ECX Index for ETC now live !TradeBlock's ECX Index represents a real-time, USD-equivalent spot rate for Ethereum Classic. The index value is algorithmically calculated once every second based on observed trading activity on leading Ethereum Classic exchanges. The ECX index includes markets that are liquid in the ETC/USD & ETC/XBT crosses, incorporating the XBX index rate to offer a consolidated ETC/USD reference rate. The index has been in operation since December 2016 and was launched publicly on April 10, 2017.
The ECX Index is designed as a reference rate to track liquidity while also adjusting for deviations caused by anomalies and manipulation attempts at individual exchanges. While the precise formula underlying the index is currently proprietary, the key elements of the algorithm are outlined below.
Long ETC! the original Ethereum Classic! ETC will break the ~180k resistance very soon, it's just the first green leg up.
If you buy under 2USD it's a good long term investment and the risk reward proportion is very well in my opinion.
Ethereum Classic is a project to keep the original censorship-resistant, immutable, decentralized Ethereum
Here is the new website of the ETC developers:
www.etcdevteam.com
Charles Hoskinson’s is a active adviser of ETC!
twitter.com
www.ethnews.com
best wishes!
The breaking of the ETC downtrendFor the past 4 months Ethereum Classic has been in a solid downtrend, But it appears to have finally broken free.
Ethereum has also been showing some weakness in the few weeks and could resume it's downtrend any time.
I honestly think we could see ETH to ETC parity some time next year, but if we do, we won't be there for long, as ETC will skyrocket afterwards.
This is a great long term investment (3-12 month) in my opinion, and with China just starting to get on board, I think we will see great things for ETC in the future