Ethereum Classic is really sleeping dragon.
Before when Ethereum is still not owning, this Ethereum Classic is still sleeping. But look at it now, it really pumped too hard.
What I think is, people who were not able to hop in on Ethereum before, just start to buy Ethereum Classic instead of Ethereum. This is proven about gains, seems Ethereum Classic correlated with Ethereum recently.
This is what I think too, there is a close correlation between ETC and ETH so it is likely that ETC will continue to rise as ETH continues to rise. This is a good analysis. The speculators who could not buy Ethereum due to its high price are now turning to buying ETC.
With the 51% attack that happened on it, I think this bull run is waking up every coin that it can base on what the investors want to wake up. With the upcoming transition of ETH to POS and other updates.
I think ETC is getting livelier due to those miners that are seeing its profitability as they mine it.
Quite true, ETC also Doge fully shows that speculators can raise the price of any coin as they want regardless of its advantages or disadvantages, ETC suffers a lot of problems and its network is weakly protected, but despite this its price has risen fantastically.
Also, its ease of mining will make miners flock to mining ETC because of its high price and this will bring them huge profits.