second largest cryptocurrency unit of Ethereum In 2022, it has experienced big drops and is a long way from its ATH in November 2021.
In this context, although the price performance of ETH remains low, it is foreseen to switch to the PoS system in 2022. “Merge” historic upgrade ETH and became one of the biggest stories for crypto.
Now, all eyes are on Ethereum, which is scheduled for March 2023 after the Merge, which will allow the participants in the network to unlock ETHs staked and inaccessible for months. Shanghai hard fork translated.
As March approached, investors started betting on the Shanghai hard fork in ETH.
Noting that the expectation of Merge increase in Ethereum has turned into crazy speculation among traders, analysts are trying to prevent the same situation from happening in the Shanghai hard fork.
Because before Merge, investors ETHThey didn’t get what they expected when they were betting that . Ethereum failed to show the expected rise.
In this context, some analysts shared their views as the uncertainty about Ethereum’s rise in March fluctuated in the market.
Coin Metrics “Merge was an important milestone and success for Ethereum. But in 2023, Ethereum ecosystem participants will also continue to grapple with the complex dynamics of proof-of-stake.” said.
Jeff Dorman, chief investment officer of digital asset management firm Arca:
“Most investors have now heard of blockchain and want to somehow make money if the blockchain succeeds. For the past five years, almost every investor has tried to find different ways to express this theme.
If you want to express all these areas of blockchain in one investment, it would be Ethereum.
In this regard, I am not worried about the potential selling pressure from unlocking staked ETH after the Shanghai upgrade.”
Crypto trader Thomas Kralow;
“I expect to see a short-term downside move for ETH just before and after the upgrade as daily liquidity fails to keep up with the unused supply of ETH.
I also expect a drop in ETH given the fact that April is the tax deadline and there are usually a lot of sales during the tax period.
But I think the potential price drop will not be more than 15%-20% and ETH will recover quickly.”
*Not investment advice.
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