Ethereum Classic (ETC) is one of the few remaining proof-of-work (PoW) cryptocurrencies that could attract investors, despite its falling popularity in the long-term. This year especially, the growth of artificial intelligence (AI) technology has been remarkable as ChatGPT leads the charge. So why not leverage its power to better understand Ethereum Classic’s potential next course of action?
ChatGPT’s response initially went a long way in explaining the fundamentals to ETC. But its answers were spot on when asked why the Ethereum Classic network is less popular than Ethereum. According to the AI, it’s because Ethereum has more developers, better tech, and more liquidity which has contributed to its success.
Ethereum Classic’s advantages over its more well-known counterpart were also noted. The AI listed scalability, a focus on decentralization, absence of foundings, and no concept of founder’s rewards, all of which make the protocol more attractive to individuals and perhaps even large institutions that dislike centralization.
Moving forward, the AI also provided insights into a possible timeline when ETC could reach ETH’s current price of $1,900. The AI stated that it can’t give a firm prediction but the current market sentiment points to a potential price increase in the coming months. In addition, the recent Shapella upgrade and the continued growth of Bitcoin (BTC) prices could provide a boost to Ethereum Classic and bring it closer to its goal.
Rick Barr, the creator of the Shapella upgrade, should also be recognized for his work on Ethereum Classic. His recent upgrade allowed investors to withdraw their tokens and introduced an easier user experience due to automated staking activities.
To gain a clearer picture of Ethereum Classic’s prospects, investors should also check out the Ethereum Classic Profit Calculator. This calculator can help them determine the current state of their investments and how long it would take until they reach a breakeven point.
In conclusion, it is important to keep in mind that all of the information provided here is purely the writers opinion and does not constitute professional financial, investment or trading advice. Before making any decisions, investors should always do their own research, remain patient and take into account the risk associated with any cryptocurrency.
