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Everyone prepared for #doge, #etc surprised 😮 Wtf ~10k investment last month would have been 100k now 🤔 #blockchain #bitcoin #crypto Tc 110
Why is this happening?
Utility. Some services and apps that actually use the blockchain. Speculation too. But.. yep.. these things can be used. It is a risk right now NOT to be in this market, even if just a bit.
Retail mania. Tons of newbie crypto investors have no idea what they’re buying and bidding up prices. You can see it in the on-chain data. Not sure what started the mania, but I think it was the whole NFT craze which is super catchy on news segments and gets people to pay attention. The Doge pump by Elon I think drew a lot of newbies in as well
How high it can go?
500-1000
Already at 133
This is worse than the dogecoin climb. Doge had no fundamentals. ETCs fundamentals are negative, indicate a project in free fall that can't even properly self destruct. I think some poor corporate treasury was trying to buy ethereum and got off-brand ethereum instead.
People on Robinhood hear about Ethereum, and see ETC being cheap Ethereum and buy it.
Looking forward to all that money flowing back into ETH
Etherium’s London upgrade fundamentally changes it from Etherium Classic. Big changes like that make people want to own ETC as a hedge.
Why hedge into ETC which has already been 51% attacked several times?
There isn’t always perfect logic in these things, but if you are worried about London or unhappy about London or simply want a cheaper Etherium-like coin, for the next few months, ETC makes sense. I expect both to go up until London upgrade and then it is unclear.
Eth to the moon. Etc is a scam
People doesn't care whether it's scam or not lol as long as they make money
Atleast gamble by being aware that you are.