ETC/BTC Analysis - The Real unstoppable code.
Seeing ETC increasing so much since the dump which is where people have gotten 1:1 ETH to ETC. Simply amazing.
From up high to low bottom
15 Minute Chart
It was early morning when ETC started trading on poloniex. The people were quiet amazed off it and most people have sold some of their ETC, however there are some big holders out there who are just shaking out the small fish.
Big whales started buying the Dump really fast and in a couple of hours it has gone from 40k to 120k sats. Which was around 3000 #BTC that some big whales invested. They are long holders and believers in this ETC #blockchain. As #ETH has really failed in most people's eyes due to the fork.
At around 10 AM it seemed like they found the bottom and wouldn't go any lower due to it just being a settling between 120k and 140k sats which is really a cheap price that everyone would love to buy at now.
Getting up the mountain
30 Minute Chart
Many people have started to see some potential in the ETC blockchain as its a lot better without the fork. This has been seen when it started to rally up from 01 AM on 26th of July. Many people have started to buy in and be long holders.
12 Hours have passed and which made ETC hit 480K , from 100k which is an easy 4x for any good trader out there. So people have sold and taken in profit, but there still are a lot of people who are holding. At that time the total volume of ETC has exceeded ETH's which made people want to fomo even more into it. ( Fomo means Fear Of Missing Out , which is also influenced by the Trollbox on Poloniex.
Bumpy Rides
30 Minute Chart
Since the big high that ETC has gone through the people have dumped in and taken profit which is why the price nearly halfed from the top. This is what usually what happens when a 400% has been hit, its obvious that a small correction is needed.
From 480k it has gone back down to 220k which more than 14k BTC volume was in just that small dump alone. As you can see the people have bought in the dump and made another rally up to 420k and started to maintain a bit in between 320k and 420k.
From last night the whales wanted to dump the price back down to around 250k in order to buy in for the new news which were that ETC will be added on China's biggest exchange in the morning. When the news hit the market in the morning the price has started to go back up close to 380k and a small selloff was needed in order to carry on the rally upwards.
Looking into the future
We can never know what the future has set for us, but we can predict it when good information has been released. This is how #trading works and how it will always work, based on new information we can guess where the price might go. At this moment a lot of exchanges are thinking and will be adding ETC into their platforms to start trading within the next few weeks. This is something that will definitely increase the volume off ETC due to more whales available to buy from different platforms and some people who didn't hear about ETC might see the potential.
My Speculation
I don't want to influence anyone with this analysis to either buy or sell, that choice is only theirs but looking at the trends it seems like the price off it could hit close to ETH's due to most people from Ethereum already investing most of their ETH and selling it off to buy ETC. This is happening because they see the potential that the Origianal ethereum blockchain has and that the hard forked #ethereum blockchain has quietly failed. I have also invested into this amazing #opportunity that we all have in front off us. We all need a leap of fate into the unknown.