The possible date of the Ethereum Network Merger has been given by its developers, a development that has been a benchmark in the cryptocurrency industry in recent days. But what is expected to happen after the Merger, which based on current data will take place on September 19.
It will bring a price rally for ETH
The popular cryptocurrency analyst, Coin Bureau, expressed his views on the next day of the Ethereum Merger (ETH). He told the 2.08 million subscribers of his YouTube channel that the Ethereum upgrade will come by the end of this year and will trigger a new price rally for ETH.
“I think it is very likely that we will see the Ethereum Merger this year. This is based on the fact that its developers feel comfortable enough to put it on the calendar for next September. Even assuming 1-2 bugs occur and it is delayed again, there are still three months in reserve for the rest of the year. When the Merger finally happens, we are likely to see a rally in the ETH price,” he said.
Short-term pullback until the next upgrades
Coin Bureau continued its analysis by reporting that the ETH price may retreat in the short term after its rally, as investors may decide to sell once the Merger is done in order to focus on the next two upgrades:
“There may be a short-term reversal as people sell on the “news” of the next event on which to focus their attention. The next upgrade, which will allow for the withdrawal of staked ETH and the upgrade after that, which will bring sharing to the network.”
DeFi will lead the race for Ethereum
Coin Bureau highlights that it remains optimistic in the long term as far as ETH is concerned, as it believes that the decentralized finance (DeFi) sector, which Ethereum dominates, has “transformative” power.
“I’m holding ETH for the long term, I’m positive about the technology and the transformative power of DeFi. The recent collapse of the CeFi (centralized funding) cryptocurrency companies further reinforces this belief. It is this perspective that allows me to think long-term.”
Recently, Ethereum developer Tim Beiko reported that the merger is scheduled for September 19.
