Last Day was a great and a memorable day for the entire crypto users and ETH community. The big moment of launching the Ethereum Merge has happened treating the users, investors and the whole industry. As it is the current state, everyone is eagerly expecting for a positive note after the merge. To take a deep dive about the Merge, it was a great victory for the Ethereum community for a successful switch from proof-of-work to proof-of-stake.
Surprisingly, there is a big twist for all the people out there! Unfortunately, the impact of the merge turned-down. In addition, the market witnessed a drastic price drop in Ethereum in the last 24 hours. Analysing the current market state, many crypto experts and analysts are predicting that there will be a massive plunge in the price of Ethereum despite the significant merge.
However, this negative impact about the price drop, alerts all the investors to lose faith in holding Ethereum for the long term. Probably if this continues, there will be a tremendous price fall and a bearish market for the ETH community. Hence it is now a remarking disappointment for the entire market and the users!
Ethereum Merge Affects ETH Price
Over recent weeks, Ethereum’s price range was performing far better than Bitcoin (BTC) in the market. It is clearly evident that it is because of the hype and excitement for the Ethereum POS. Even the price of ETH was standing at $1755, gradually rising to $1800 in a strong bullish trend.
But here are some of the popular crypto analysts sharing their predictions about Ethereum’s impact after the Merge. One of the popular crypto, Lark Davis suggests saying, the Ethereum Merge is significantly a bullish event. The system change can impact positive results in the long run only as it cannot reflect immediately. Following Davis, another famous influencer, Quinten Francios comments,
“The post-merge will affect the price of Ethereum. It implies that the BTC price will surge while ETH price plunges at the same time. To be honest, the Ethereum price will recover strongly very soon.“
Moreover, on the whole, it is something very clear that the Merge of Ethereum cannot sort out other prominent issues in the community. In addition, the crypto analysts revealed that the positive impacts of ETH Merge will not be effective soon.
According to CoinMarketCap, the live market price of Ethereum is $1,464.40 with a downfall of 7.86% in the last 24 hours.