The leading altcoin has blown the crypto market in the last week. The host of the crypto channel Coin Bureau, nicknamed Guy, shared his views on the leading altcoin to his 2.08 million subscribers. Analyst, ‘What will happen to Ethereum (ETH) after the big ‘The Merge’?’ seeks an answer.
“We will probably see a rally in Ethereum price!”
Coin Bureau’s commentator, nicknamed Guy, evaluated the developments in the top smart contract platform Ethereum (ETH). The analyst shared his predictions about what will happen after the highly anticipated Merge. Guy expects the Ethereum upgrade to arrive by the end of the year. He also says that this development should ignite new ETH rallies. In this context, the analyst makes the following statement:
I think it is quite possible that we will see an ETH Merge this year. I think the developers are comfortable enough to log it for September, even assuming it encounters a bug or two and takes a step back again. Because there are still three months as a buffer for the rest of the year. This prediction is also based on this fact. When the merger finally happens, we will likely see a rally in ETH price.
“In this case, short-term rebound of ETH price is possible”
However, Guy’s predictions do not end there. The analyst says the business will change color as investors decide to sell the news to focus on the next two upgrades. In this case, he notes that a short-term rebound in ETH price is likely after its rally. Accordingly, Guy makes the following assessment:
It is possible for people to sell news about the event that they will pay attention to. In this case, a short-term pullback is likely. The next upgrade will allow the staked ETH to be withdrawn. The next upgrade will bring sharding to the network.
Guy maintains long-term bullish position on Ethereum
The host of Coin Bureau believes that the decentralized finance (DeFi) industry dominated by Ethereum has ‘transformative’ power. For this, he says he maintains a long-term bullish position in ETH. In this context, the analyst makes the following comment:
I hold ETH for the long term. I am optimistic about DeFi’s technology and transformative power. The recent collapse of all these CeFi (central finance) crypto firms further strengthens this belief. It’s this perspective that keeps me coming together in the long run.
As you follow on Kriptokoin.com, ETH developer Tim Beiko recently said that Merge is scheduled for September 19. Meanwhile, Ethereum was trading at $1,559 at press time, according to data from CoinMarketCap. The leading altcoin is up 43.63% on a weekly basis. However, it stands 68% off its all-time high of $4.9k.
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