DevCon2 Fueling ETH Rallies, ETC Remains Flat

ETH Rises during the ongoing Ethereum Foundation DevCon 2, while ETC maintains its stagnant sideways trend.

This week DevCon 2, an event hosted by the Ethereum Foundation, is taking place where several central developers of the Ethereum Protocol and its applications are presenting the materials of which they plan to implement and what they mean to the future of the platform.

Ethereum (ETH) is propelling in price and volume this week and it could continue to make gains. Since the start of the conference, the price has increased more than 10% and could be making further gains.

CoinIdol.com reached out to Michael Morton, Senior Trading Analyst at Ethereum Labs,  for his comment and insights on the ETH price.

“I'm predicting a bullish market for ETH after DevCon 2 because of Vitalik Buterin's new Mauve Paper (Version 3) which goes into detail about how Ethereum plans on scaling. This will help solidify in investor minds and the public that Ethereum is on its way to becoming the first massively adopted worldwide decentralized internet computer. Thus playing a major role in creating the internet of things.”

Ethereum Classic (ETC) continues its sideways trading pattern. It remains in a 10-20% range of 0.002 and 0.0024. 

 

Michael Morton continues his insights:

“In the short term, I'm neutral for BTC as the market decides which way to continue the trend but still pretty confident there will be a raging bull market for BTC by the end of this year.” 

“A possible consideration is that some holders of ETH may cash out of ETH seeing a high price and buy up the inexpensive ETC which could be the next rally in the making. Only time will tell, though it is a good idea,” commented Daniel Dabek, Founder of alt-coin trading community Safe Exchange.