The price of Ethereum continues to struggle below $1,600 despite the Merge being successful. As pointed out previously, the Ethereum Merge had looked to be a “buy the rumor, sell the news” event, which seems to be playing out, but the lack of highly fluctuating prices suggests that even the expected sell-offs seemed not to have happened. Instead, it looks to be that momentum is currently muted, making it impossible for the price to swing either way. Merge Is Priced In During the rallies that led up to the Ethereum…
Day: September 15, 2022
Bitcoin price loses $20K, ETH price drops 8% after ‘monumental’ Ethereum Merge
Bitcoin (BTC) spent a second day threatening $20,000 support on Sept. 15 as markets processed the Ethereum (ET Merge. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC stuck between price magnets’ Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking below $20,000 again overnight to recover marginally above the boundary for a brief period. The largest cryptocurrency broadly failed to regain lost ground after surprise United States inflation data on Sep. 13 sent risk assets into a tailspin. Down 13.5% versus the week’s top at the time of writing, Bitcoin…
Ether, Ethereum Classic See Volatile Trading Amid Successful Ethereum Merge
“Post-Ethereum Merge, the Ethereum PoW miners will need to mine other coins since Ethereum is moving to PoS,” explained Hosam Mazawi, a co-founder at non-fungible token project Snook, in a Telegram message last week. “The options are Ethereum Classic or some new Ethereum fork.” Author: Shaurya Malwa Source link