ETC: wanted dead or alive

There's a time of the year when the dead wake up and walk among the living. In our case, the time is now and the culprit is our old friend Ethereum Classic.

It's known to be a thing of the past, but from time to time for some strange reason it just starts pumping like crazy (being it the investment in mining rigs or a shill from the man himself, although I personally struggle to understand how any of these reasons can create long-term demand for the coin).

You can clearly see the absence of progress going on in ETC in this chart:

Development activity of ETC compared to ETH

But when could such puny things like fundamentals or common sense do anything against the collective insanity of the crypto market?

Let's examine how things look on the emotional side.

Trading volume made a strong spike during the initial run up, and started to pick up again just recently. Will it form a divergence is yet to be seen.

Social volume on the other hand has made its ATH just recently when those headlines broke out, and a spike in social volume is notorious for being one of the price top indicators.

So in my personal non-financial-advicy opinion it's best to execute great caution in regards to ETC at its current state.

Thanks for reading!

If you enjoyed this insight please leave a like, join discussion in the comments and share it with your friends!


Conversations (0)

No comments yet
Be the first to comment