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.