Ethereum Vs Ethereum Classic Round 3: Trading & Speculation

Ethereum Vs Ethereum

Classic Round 3: Trading & Speculation

Miners

They thought miners determined hard forks…

Then on one fateful day Poloniex listed Ethereum Clssic and it showed that exchanges alongside speculators , providing there is strong enough sentiment, can decide the fate of a successful hard fork.

This saw the more ethically minded Ethereum followers express their doubts about the ethics of the hard fork by switching to and buying Ethereum Classic, if not only for value speculation.

In a way this only shows how the Ethereum platform, that offers so much potential not yet fully realised, is not currently much more than a vehicle for speculation with some future potential use and value.

Explosion

Ethereum Classic exploded out of the blocks soon after listing and rose so fast so high, as many crypto coins do, that it perhaps also overreached itself. Now as most markets do, price determination has been realised and Ethereum Classic finds itself at the behest of sellers and profit takers and continues its downfall from its highs. This is despite some recent respite as of writing.

As we now see the price of Ethereum a Classic having a large trading range, making it potentially very profitable for the speculatively minded, it does however continue an overall downward trend from the highs.

Market forces 

The buying and previous upward trend has clearly been due to its high profile backers, but now the downward trend and more powerfull selling is most likely coming from original ETH holders , selling their newly acquired positions in ETC .

The large profile ETC backers seem to be doubling down on their positions and this is certainly disruptive to the overall progress of the Ethereum platform but big support for Classic.

Ethereum Wins

Despite this temporary disruption, Ethereum is still by a country mile the number 2 crypto currency and shows no signs of giving way to the Classic any time soon. When Ethereum Classic did edge closer to Ethereum in market cap it didn’t last long and was soon back down. This shows for now that it doesn’t seem a major threat. However miners and investors are a thickle bunch and if the market caps converge significantly it’s not unimaginable that Ethereum Classic takes the crown and everyone jumps on its ship. It will take some news for this turnaround and the next Ethereum hard forks and road map will see how this turns out.

Until that theoretical point and realisation of certain assumptions Ethereum remains the King but with its open source code and freeness to copy it is there for the taking.

Ding, Ding,  Ding ….. Round 3 goes to Ethereum