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Ethereum Price is UP before the Merge! What’s Happening to Ethereum?

Ethereum Price is UP before the Merge! What’s Happening to Ethereum?

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After continued heavy losses in the crypto market, prices started to turn slightly higher. This crypto uptrend is happening just a few days before the official Ethereum Merger Event. Most investors wait until after the merger to decide whether or not to buy Ethereum. Others have already started buying and are taking the risk of a price drop. Should You Buy Ethereum? Where will the Ether price go after the merger?

What is Ethereum (ETH)?

Ethereum is a decentralized blockchain platform that creates a peer-to-peer network for the secure execution and validation of smart contract application code. Participants can transact with each other using smart contracts without the need for a trusted central authority. Participants have full ownership and visibility of event data, as event records are immutable, verifiable and distributed securely online. Ethereum accounts that users have created to both send and receive transactions. The cost of completing transactions on the network requires the sender to sign the transactions and use Ether, Ethereum’s original coin.

ethereum eth

What is Ethereum Merge?

A major update is coming to the Ethereum blockchain. It’s basically moving from PoW to PoS. This new consensus mechanism eliminates the need for miners and makes transactions faster and more efficient. This update will attract investors to return to this crypto project and even invest in it. There is a lot of debate about the future of Ethereum miners as most are looking for other options. Ethereum Classic is one of the closest blockchains to Ethereum, so miners consider it a “safe haven”. Most of them are planning to switch to Ethereum Classic, which still works on the proof of work mechanism.

Ethereum Price Prediction – Will Ethereum Reach $2000 Soon?

ETH prices managed to recover from the crypto crash, leading ETH prices to reach $880. Thanks to this comeback, prices rose to the psychological price of $2,000. However, the hype surrounding the merger faded in August along with other crypto-related factors that caused Ether to adjust back towards $1,500. Today, ether prices are back higher, aiming to reach the previous psychological price of $2,000. In Figure 1 below, we can see how prices continue to rise.

what's happening to ethereum - ETH/USD 1 day chart
Figure 1 ETH/USD 1 Day Chart – GoCharting

During the association, two case scenarios may occur:

  • If Ethereum manages to merge smoothly, prices can easily reach $2,000 and even continue to climb towards $3,000
  • If the Ethereum consolidation turns out to be a disaster, prices will fall towards $1,000 and even $800
Ethereum Price Prediction - ETH/USD 1 Week Chart
Figure 2 ETH/USD 1 Week Chart – GoCharting


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