Sun, January 29, 2023

Will The Ethereum Unite Skyrocket ETH?

2022 Crypto Predictions - What to Expect

Ethereum Merge is the most critical aspect of the ETH 2.0 update. This will even turn from job proof to a bet confirmation system. Switching from job confirmation to bet confirmation consensus is the update’s focus. Improvements have been delayed until the end of 2022, although no specific timeline is seen. The world’s second-largest cryptocurrency was weeks away from “merging” its June update to its blockchain Ethereum. This required faster, cheaper, and more minor energy currencies, which promised a scarcer and cleaner crypto future.

A senior research analyst at Mesar believes that in a report entitled “Separation Thesis,” the merger of Ethereum is likely to be a significant turning point in the economic outlook for investors. This indicates that the crypto market leaders, Bitcoin and Ethereum, had a highly positive association with the U.S. stock exchange in the past. The correlation between the two cryptocurrencies and the Nasdaq and S&P 500 index was 40-50 percent for a longer duration. And in shorter periods, about 90 percent.

On the other hand, gold and U.S. government bonds have historically negatively correlated with stocks. However, this negative link is weakening for the time being. During the 2020 market downturn, both gold and bonds, as well as stocks, fell.

ETH/USDT

ETH /USD trades at $2,821. Likely, the expected upgrade of Ethereum to the betting confirmation system may still be delayed given that this transition is tough and still unclear. On April 11, Ethereum fell 8% to $2,947, The day Ethereum’s chief developer announced on Twitter that the June layout had been delayed during the testing process. It dropped 13% this month to a total of $2,844. Once merged, the ETH will function as a quasi-state bond. Stackers bet money in exchange for a fixed rate of return, similar to the bonds’ principle. It will also strengthen the status of Bitcoin as a form of digital gold.

It is expected that by 2022 the broader crypto industry will break away from global markets. According to a market research firm, various segments of the crypto business will continue to attract. Meanwhile, speculation that the merger could boost Ethereum over Bitcoin is still valid. Genesis Trading, head of market analytics, said that after the merger, more money would flow into Ethereum. ETH currently trades at around $2,850, and a market value of $343.98 billion. Bitcoin currently trades at about $38,200, with a market capitalization of $726.69 billion.

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