Attention to September and December: These are Expected on Ethereum!
“We will probably see a rally in Ethereum price!”
Coin Bureau's commentator, nicknamed Guy, has scrutinized developments in Ethereum (ETH), the ultimate smart contract platform. The analyst shared his claims 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 highly anticipated that we will see an ETH Merge this year. I think the developers are comfortable enough to log it for September, even assuming it competes with a mistake or two and takes a step back again. Because there are still three months as a buffer for the rest of the year. This estimation is based on this fact. When the merger finally happens, we will likely see a rally in ETH price.
“In this case, the 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 after its rally is expected. Accordingly, Guy makes the following assessment:
People can 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 The next upgrade will allow the staked ETH to be withdrawn.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.
Ethereum remains bullish in the long run
The host of Coin Bureau believes that the decentralized finance (DeFi) sector dominated by Ethereum has 'transformative' power. For this, he says that it maintains its 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 is this perspective that allows me to conclude the long run.
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 CoinMarketCap information. The President's altcoin is up 43.63% every week. However, it remains 68% off the all-time high of $4.9k.