Quote from: ethereumhunter on Today at 03:02:07 PM

Quote from: fuguebtc on August 27, 2022, 03:49:19 AM

Quote from: ethereumhunter on August 27, 2022, 03:06:49 AM

Quote from: Sunrise360 on August 26, 2022, 11:16:58 PM

Following the assertions about the upcoming ethereum merge which is scheduled to happen in september, what is likely going to be the effects on the market price of ethereum, ethereum based coins, and the general cryptocurrency market at large?

I don't think there will be any effect, considering that the market is still in a bear market, so the increase we want may not yet happen. But if ethereum can raise its price and release the pressure from the bitcoin price drop, it will be a good start for ethereum after the ethereum merger. But it's still hard for ethereum to be able to raise the price. So you have to be more patient because as long as the price of bitcoin has not increased high, the price of ethereum has not been able to increase either.

Yes, it affected ethereum price last week, ethereum price bounced back and hit $2k in a short time due to news of the merge but then it quickly had to correct as bitcoin was unable to hold its rally.
After the merge is over, the price of ethereum is really unpredictable, if successful it will probably make the price better but if it fails it will be catastrophic for ethereum and the projects on ethereum.

And unfortunately, the price of ethereum has fallen again along with the movement of bitcoin which has declined again. I haven't been able to convince myself that after the merger is complete, I will be able to raise the price to a higher level than it is now and even reaches $2k again because the situation in the market is not good. Maybe ethereum will get another pump once the bitcoin price starts its small rally before getting more pumps. So for those still holding ethereum, don't panic and keep holding your ethereum and try to buy more ethereum in addition to buying bitcoins.

Since the announcement of the upcoming update, the price of Ethereum had been very volatile and it also had a lot more activities than Bitcoin but it still couldn't resist the bear so it always drops down after a little pump. The effect might only be a little pump but we shouldn't expect much because the market recovery phase isn't occurring yet.