After the last few weeks of massive price drops, the crypto market seems to have found a bottom. Bitcoin (BTC), the crypto that determines overall market direction, has held strong above the $6000 mark.
As such, now is a perfect time to buy into good altcoins that hold the most potential in a market rebound. Such altcoins include Ethereum (ETH) and Ethereum Classic (ETC). But between these two, which one holds the most promise for growth in a bull market? While holding both is a good bet, Ethereum Classic holds the most promise for exponential growth. Here’s why.
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First, the two coins are similar in most aspects, including the number of coins in supply. But even with their striking similarities, Ethereum Classic is multiple times cheaper than Ethereum (ETH).
This gives it a bigger room to grow in the long-run because, as an asset becomes more expensive, it’s potential for huge gains declines. In essence, from a purely speculative perspective, ETC holds the most promise. This aspect to Ethereum Classic will most likely see it outperform Ethereum in a bull market.
Secondly, Ethereum Classic (ETC) has one fundamental advantage over Ethereum (ETH) and that’s immutability. Ethereum Classic is an immutable blockchain, which means that accounts can never be altered.
This is big because it gives Ethereum Classic a huge chance for adoption in industries where data immutability is a fundamental requirement. Take real estate transactions as an example.
For real estate transactions and documents to maintain their sanctity, immutability is a must, which then gives ETC a leg up in terms of adoption. Immutability could see Ethereum Classic outpace Ethereum (ETH) in terms of adoption going into the future, hence pushing up the potential gains.
Thirdly, Ethereum Classic (ETC) has a vision of gaining a share of the fast growing IoT market. The internet of things is the next big thing in tech, and is projected to hit over $10 trillion in the 2020s. As such, the fact that Ethereum Classic is set on gaining a footing in this market makes it a solid bet, relative to Ethereum. Just taking 5% of this market could see Ethereum Classic surge in value to hundreds of dollars a coin.
Lastly, Ethereum (ETH) doesn’t have any inherent advantage over Ethereum Classic in the smart contracts market. That’s because Ethereum Classic (ETC) smart contracts can be launched on Ethereum (ETH) seamlessly.
This means that the two blockchains are pretty much similar in terms of this core functionality. The only difference is that ETC has some additional advantages such as immutability and its wider target market, that includes IoT. Therefore, the price differential between them, signifies undervaluation for one and overvaluation for the other.
Going by the above, it is quite clear that ETC is a far better investment, and highly undervalued at current prices. Hitting a valuation of +$100 is quite possible in the short-term, if the market rebounds.