❎ Ethereum classic / $ETC
🗓 trade very soon
▪︎Etc is entering the sweet spot soon.
▪︎It is my opinion that etc should run up to 8$ to 10$ for the june 10 forks.
▪︎Last time at these levels we murdered etc, was epic. We were on etc from 4$ all the way up above 13$ end 2019 leading into 2020, and we had a bunch of killer etc trades on the way up.
▪︎I will be calibrating up a trade.
🆕️ They have a killer atomic swap feature coming and 70% miner commitment for the forks. They also have continued support from grayscale.
❌ the ethereum 2.0 protocol upgrade could also still greatly benefit etc on the mining end.
📈 The whole etc hype should repeat.
🗓 Forks june 10:
✅ Top Miners Confirmed to Support Phoenix Ethereum Classic Hard-Fork:
❎ Ethereum Classic social activity has blown through monthly highs today with bullish sentiment leading the way:
🆕️ Saturn protocol enables atomic swaps for Ethereum and Ethereum Classic coming soon:
📊 Controlled supply:
❌ Grayscale owns just under 13 million etc, it is their 4th largest portfolio. They have a vested interest in accumulating more low and seeing it rise, where they then reduce their holdings by offloading.
We have seen etc reach in market value what the grayscale fund share price is on several occasions.
04/30/20 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
✅ Grayscale to Fund Ethereum Classic Developers for 2 More Years
📊 in march during the infamous mega crash, etc plunged from the 7$ range all the way down to 3.08$, losing -56% in usd value.
📊 etc has since recovered well, reaching that 7$ range again yesterday. Currently up 112% from that march bottom.
🗓 I am anticipating etc moving up in nice, progressional echelons throughout may and leading into june.
Hype should be minimal, so the move should start slowly.
▪︎all that is left now is to monitor and find the bottom and to see which supports hold.
* I am hoping for a test of the 5.60$ range support, that would be an apex predator entry zone.
📊 I see analog targets of:
And in the best of surrounding circumstances, a return to the 10$ ranges
✅ $ETC mining notes:
✅ Linzhi super rig:
"Linzhi previously said it was aiming to order the first batch of wafers around December in order to have samples ready in April and mass production in June.
Speaking of the delay, the company said:
“We underestimated the complexity of the chip and how long it would take to grow the team and make the company functional. We are cautiously optimistic that we can just move forward the rest of the schedule, which would mean 12/2019 for sample machines and 02/2020 for mass production.”"
"When asked if Linzhi has any Plan B if the switch happens, Chen said the company is, in fact, more active in the ETC community, adding:
“Our plan A is to focus on ETC mining. So if ETH will still be an option, that’s something good to have. In the ethereum community, the ProgPow plan still has some uncertainty. For the time being, we don’t see it as a market that we will obtain, so I don’t really care that much.”"
ℹ BITMAIN’S NEW FIRMWARE UPDATE EXTENDS E3 LIFE TO OCTOBER
❎ We do know from a friend ⁷ was in the very small priviledged tester group of the linzhi miner, that results were dramatically better and surpassed the on-paper goals of the equipment.
▪︎linzhi has delayed any public release and is very tight lipped on launch details. They are so silent, one cannot easily distinguish if they went bankrupt, sold their tech, or are hard at work 🤣
▪︎i initially sensed that they may have been bought out, or sold the tech to a competitor, or high yield mining operation. But i am now keen to believe they will push back any launch details up until the ethereum protocol switch and the expiration of the bitmain firmware of the most widely used eth miners, in an attempt to dazzle and woo the miners with their new equipment and take advantage of the miners being stuck with their old, outdated rigs.
❎ Q4 DRAMA:
❌ And in the end if the new mining rigs end up never reaching the general publics hands, etc will face its largest hurdle yet in q4 of this year all depending on what other equipment and algos becomes available or how existing equipment is salvaged.
❌ The upcoming algo change to sha-3 will also be a key moment where we truely see what the future of etc holds.
Here are the etc cooperative group plans for the year, the roadmap is interesting:
❌ If all fails, then many, many etc holders on the retail and more corporate levels would be forced to liquidate their etc holdings and abandon etc until adequate network mining solutions are viable and in place.
That would in essence, likely lead to a massive pump and dump and mass dumpings. (That scenario would be something we would definitely ride the waves of)
▪︎I believe it will be time soon, let me look at the levels and see if it is interesting.
🗓 P.S, this consensus event is now started and happening all this week.
❎ The ETC presentation is tomorrow.
✅ "Ethereum Classic will be participating in the Foundations track of Consensus, with an hour of content devoted to ETC.
At the time of writing, that content is provisionally planned for Tuesday 12th, 3-4pm Eastern."
✅ Largest corporate investors in etc, grayscale will also be speaking at the event:
📊 current cmc index:
$6.057 USD (-1.00%)
0.00069614 BTC (-1.68%)
📉 ETC has support levels: ฿ 0.00065416,
📈 ETC resistance levels: ฿ 0.00072207,
📉 ETC has support levels:
📈 ETC resistance levels:
❎ I am not convinced it is time right now, but i sense firmly that breakout cycles are near.
Also any potential hype during/after tomorrow's presentation can move it.
So i will watch in the morning for a potential better entry.
▪︎however, on the mid term perspective, my initial targets and sentiment still stand for june.
Thanks for reading!
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