Bitcoin Forum

Over the weekend the price of Ether was trading in the green, extending a rise that began following the reveal of the schedule for the Ethereum blockchain's shift from proof-of-work to proof-of-stake.

Ether has seen more than a 40% rise in recent days, a move that has taken it above $1,400 for the first time since early June.

That is also reflected in trading volumes, which have reached record levels. But for many in the crypto community, a key question remains: what happens now? Will ether keep its momentum, and is that the right call? While the answer will depend on the short-term price movements, the current bear trend is likely to continue.

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The last time ether rose strongly against bitcoin was in 2021 I don't think it's done much against it since then (other than taking a bit of a tumble against it more recently).

(of course it's hard to know which has the highest initial momentum in changing where the market might go).

ETH has been on the rise in recent days but if it is true that news about the Merge has made ETH so strong.  As a result, I believe the eth upgrade in September, if all goes well, will be the driving force behind the whole market going up if everything goes according to plan. We are right to expect a bullish season later this year and we are optimistic about that.

i think not just because the news only but also bitcoin dominance show bearish which mean this can be a good sign for altcoin especially ETH

Yah eth merge will take eth to a new level but is bitcoin gonna hit 25k? But some analysis saying bitcoin can be dum in next two weeks and if bitcoin not moving then how eth will take to new level i think there always confiusion for me to know real situation!

It's $1500 now probably it's because the Bitcoin is really pushing very hard in the last week or so. We have broken a important barrier in $22,000 and then Ethereum at $1,400. So it's good to see that both prime movers  is somewhat on a wild swing lately.

Momentum though will get us that far, so we don't know what will going to happen in the future. Others might want to take a profit today at the price of Ethereum, but for sure majority will look at the long term. Next up is $1,800 barrier.

Looks like their developments are quite popular among the investors that's why they gained such an increase in just a short period of time. Ethereum is known to be one of the game changers whenever they released new updates because, unlike other projects, Ethereum will gonna make it true once they release a statement regarding their development the same goes for the new updates, the shift from proof-of-work to proof-of-stake. Furthermore, they are one of the long-living altcoins you could put your trust in because they don't cease doing new developments to improve their service.

It could be dead cat bounce. After such a strong fall, a large pump is not beneficial for manipulators. The price can still drop to 600-800 dollars, so that
traders were liquidated from their credit positions.And then a new wave of coin accumulation will begin.

There has been so much upgrades on Ethereum for the last 2 years that it's obvious that investors are pouring in their money on it. However, since we are in a bear market, this development are not magnified. It's that that the rest of the crytpo market now are n a upswing and thank to bitcoin moving to $23k that's why it bring it with him other altcoins such as Ethereum. But nevertheless, there are no assurance that the price increase will continue.

I consider this to be short-term bull only. The FOMO is rising and investors will keep on riding the wave to make quick profits.
If I have the money, I'd do the same but I stashed Bitcoin first and I know I will be reaping the rewards soon. But it will not as fast as where Ethereum will go with the recent explosive news that they leaked out.
Expect more while the trend is hot but as soon as the launch is near it might fade away.

Ethereum has reached $1600 while bitcoin is back again in $24k. I don't want to celebrate that early but looking at these prices, things are becoming better.

Despite that many think that it's just a temporary rise, still this is much better than no rise at all. Let's see what will happen over the weekend since it's likely where these prices will start to balance again.

That's correct, it's better to see it swinging back than being stagnant or falling down.
The same emotion as you are, I don't want to expect. It's good that it gives hope to investors but expecting too much of a return from ATH is far.
Ethereum might've really helped in this new run, the news about their approaching upgrade in September made the trends and pushed their value back up. Which I think may have been the reason to pull other coins.

Maybe this is just a price trap and this action will liquidate the short positions and make people believe that the bearish is over and we will start another bullish but then things may not be the same, all will soon turn bearish.

The price of Ethereum has rallied to $1500, which is over 50% up from the $900 lows and the market is in a very positive mood after a period of bearishness. This is a time not to let your guard down and let your guard down, a very sensitive time when something unexpected happens.

A little relieved to see the price movements of the last few days especially ETH which continues to push the market into the green, many altcoins are also getting a positive impact from the news of this merge.
hopefully this can get him back on the right track given so much chaos that has occurred in the last few months regarding crypto.

Well, being stagnant, there's an uncertain path that we don't want to see. But with such pumps and volume ups, we're liking it more than that for real.

It's better to see it swing like this than there's no swing at all.

Up to $1500 and that's a quick hundreds of dollars addition to its former price several days ago.

The markets can't go down for long because the shorts will get rich. 50% price increase kills all trading leverage. When most traders believe in growth and take their positions on the stock exchange, then you already know what will happen.

People don't realize that the Merge is only making ETH POS and does not scale the chain. In fact, ETH doesn't even automatically unlock after the merge and we don't know when we will actually be able to sell our locked funds. When the funds are unlocked, I believe we will see a huge dump. Sharding doesn't come online until after the merge, so we still have several years before Ethereum is capable of matching newer chains like Celo and CNDL.

It even pushed to almost $1,600 before it pulled back slightly. I don’t know maybe because of Tesla has sold 75% of their “diamond hands” to correct the market a bit. But of course recently there’s a news that ETH 2.0 or what we call as consensus layer will be delayed again. There are so many factors to consider right now regarding the recent movement of the crypto market. And there are uncertainties on what will happen to the ETH’s ecosystem when it transitions from PoW to PoS.

Tesla already said they didn't sold anything in response to the tweet.

ETH merging to POS is for the Macro investors I think ETH will eventually rise up but it will also make holders of ETH to be cautious. Macro investors dumping their ETH will make its market dips deeper than we know. There had been many warnings against ETH turning into POS so we're just into this uncertain path.

https://twitter.com/glassnodealerts/status/1550016561821401092
"#Ethereum $ETH Exchange Outflow Volume (7d MA) just reached a 13-month high of 29,822.996 ETH
Previous 13-month high of 28,398.132 ETH was observed on 20 June 2022"
https://studio.glassnode.com/metrics?a=ETH&m=transactions.TransfersVolumeFromExchangesSum&mAvg=7

https://decrypt.co/105732/ethereum-held-exchanges-plunges-stakers-prepare-merge
"Exchange outflows hit a 13-month high, as reported by Glassnode, indicating less interest among investors to trade or hold the asset on centralized exchanges.

Chainalysis, a blockchain tracking and reporting platform, reported similar findings: “The change in ETH held on exchanges experienced the largest one-day decrease in 202 days, decreasing by 432.84k ETH to 249.58k ETH.”"