Host of the popular cryptocurrency-themed YouTube channel Coin Bureau, under the pseudonym Guy, Ethereum ClassicHe predicts that (ETC) could rally just before Ethereum’s transition to proof-of-stake (PoS).
Continuing the comment, Coin Bureau stated that Ethereum Classic could benefit from the “The Merge” update. Ethereum It is expected to be a major overhaul for blockchain, completing the transition of blockchain from proof-of-work to proof-of-stake, making the network more sustainable.
Koinfinans.com As we reported, Guy noted, “ETC continues to rise due to speculation that Ethereum Classic will benefit once Ethereum completes the consolidation. As you know, ETC was one of the top performing crypto assets last week, so I’ll repeat what I said then, be careful. However, if this bull flag plays out daily, ETC could rise as high as $40 in the coming weeks.”
Guy also, bitcoin He also predicts that the price will fall as The Merge leads and all investor excitement will shift to Ethereum. On the other hand, he noted that BTC’s daily charts show a short-term retracement that he expects to extend to Bitcoin’s weekly price performance.
Anticipating a decline following these rallies, the analyst remains optimistic about Bitcoin’s long-term outlook. According to the analyst, the BTC price could rise after the short-term decline and reach as high as $30,000 in August or early September.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.