Ethereum (ETH) Price Forecast After The Merge: $1,000, According To Bloomberg
✍️ 31 August, 2022 - 18:10 👤 Editor: Jakub Motyka
- A devastating report makes a price forecast for Ethereum (ETH) that does not bode well.
- According to the latest technical analysis, Ethereum is forecast to drop to $1,000 in price… or even lower, depending on which prediction you look at.
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Junk of cold water for everyone who expected the Ethereum (ETH) price forecast to benefit from The Merge's big update. As just posted Bloomberg, his forecast is that the future price of Ethereum will plummet to 1,000 (or less) dollars in the coming weeks, coinciding with the deployment of The Merge, the great update of this project.
Ethereum (ETH) is currently trading at 1,592.60 dollars, far from the 4,891.70 dollars that it reached as a maximum in the last year. But Bloomberg paints an even worse future for this altcoin, ensuring that his forecast for Ethereum goes through a fall to $1,000, leaving the door open for the crash to go even lower.
The Worst Price Forecast For Ethereum Before Its Big Update
According to this report, based on the technical indicators of the cryptocurrency in question, the prediction of Ethereum regarding its future price is fall to $1,000 for the first time in two months. Not only that, but also this drop could occur in the next few days.
According to Katie Stockton, co-founder of Fairlead Strategies, she comments that "the data suggests that a new $1,000 ground test is very likely to occur in the next few days", also pointing out that the price of Ethereum drags a drop in its price compared to its average of the last 50 days, which makes its forecast negative.
Moving To Proof Of Stake Doesn't Seem Like It's Going To Stop Ethereum's Poor Prediction Related To The Price It Might Reach This Year
The great update of Ethereum (ETH), known as The Merge or the Great Fusion, will suppose the change of its current model of Proof of Work (so polluting for the environment, since it requires mining cryptocurrencies to validate transactions on the network) to Proof of Stake, which allows validating operations just by staking this crypto.
Despite everything, fundamental analyzes have already talked about what price Ethereum can reach in the coming weeks. Now it remains to be seen what the cryptocurrency market thinks about it.
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