Thursday, December 7, 2023
Cryptotelegraph
  • News
    • Bitcoin News
    • Ethereum News
    • Crypto News
    • Crypto Technology
    • Analysis
    • Blockchain News
    • Industry News
    • NFTs
    • ICO News
    • Press Releases
  • Market Cap
  • Exchanges
  • ICOs
  • Videos
    • Bitcoin Videos
    • Ethereum Videos
    • Altcoin Videos
    • Blockchain Videos
    • ICO Videos
  • Submit Press Release
    • Read Press Releases
  • Contact Us
No Result
View All Result
Cryptotelegraph.com
No Result
View All Result
Home News Ethereum News

Ethereum And Crypto Market Might See Higher Price Rallies This Month, Says Analyst

Andy K by Andy K
September 9, 2022
in Ethereum News
Reading Time: 4 mins read
14.9k 786
0
2.7k
SHARES
68.3k
VIEWS
Share on FacebookShare on Twitter

As September 13th, the date of the much anticipated Ethereum mainnet merge approaches, the crypto community believes it will determine the fate of both the Ethereum blockchain and the wider crypto ecosystem. However, there is another event set to take place on the same day that may impact the market, the release of the US CPI and inflation data.

Crypto Analyst: The Merge Will Not Impact The Fate of ETH And The Wider Crypto Market

The reputable crypto analyst, Cred, has evaluated the hype surrounding the upcoming Ethereum Merge event. He concluded that it would have no bearing on the crypto market and ETH price, whatever happens. 

Related Reading: Why Ethereum Price Longs Might Profit Ahead Of “The Merge”


5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The Merge is set to go live on the 13th of September after several test nets have successfully launched. It would finally ease the Ethereum Blockchain off its previous energy-intensive PoW consensus mechanism and onto the PoS mechanism with 99.95% less energy consumption.

The merge has already caused the price of ETH to spike over 40% from around $1000 to $1500 in July. Then it went from $1600 to $2000 mid-August when the final Goerli testnet ran successfully. Supporters of the Merge have proposed that when it completely rolls out, it will cause both ETH and the general crypto market to spike.

ETHUSD_
Ethereum’s price is currently trading above $1,600. | Source: ETHUSD price chart from TradingView.com

The Real Game Changer: CPI And Inflation Data Publication

However, according to Cred, the actual event that would make the difference, happening the same day, is the release of the latest inflation data. 


BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

The US Consumer Price Index (CPI) publication and inflation data are also going live on the 13th of September. If the Fed softens its stance and goes dovish, things will look up for ETH and crypto in general. If the Federal Reserve retains its hawkish outlook or stays neutral, the crypto winter might tarry longer. 

Related articles

Biggest Crypto Gainers Today on Uniswap – ODOGE, ORD, MATTER

Biggest Crypto Gainers Today on Uniswap – ODOGE, ORD, MATTER

December 6, 2023
5 Crypto to Accumulate Before 2024 Bull Run

5 Crypto to Accumulate Before 2024 Bull Run

December 6, 2023

Cred: The Market Will Credit The Wrong Catalyst

However, the analyst predicts that the crypto community will likely credit the Ethereum Merge for whatever happens rather than examining macroeconomic data. That’s because the last time that ETH rallied was due to the “big counter-trend rally in stocks” caused by “macro” that bounced into Ethereum. Cred believes the same will happen in the merge coinciding with the inflation data print.

Related Reading: Why Extreme Fear Is Back In Crypto In A Big Way

According to the crypto analyst,

“if ETH dumps, as a result, everyone will say, ‘Oh look well the merge is priced in. It was obvious.’ If ETH doesn’t dump; as a result, people will say, ‘The merge wasn’t priced in, and it’s just the start.’”

Either way, Cred believes it is a false causality. 

Per CoinMarketCap, Ethereum is currently trading at around $1,500.

Featured image from Pixabay and chart from TradingView.com
Tags: cryptocurrencyEthereum AnalysisEthereum predictionethereum priceethusd

Read More From Original Source

Tags: Cryptocurrencyethereum analysisethereum predictionethusd
Share1094Tweet684
Andy K

Andy K

Andy is a former Forex Trader who got involved in the crypto industry early January 2013. Since then Andy has been writing about cryptocurrencies and blockchain technology within various online crypto news publications. He is also one of the main contributors to Cryptotelegraph.com

Fun Fact : Despite other staff members helping themselves daily - Andy has a 'never-ending' container of 'Jelly beans' always sat on his desk, it's magic!

Related Posts

Biggest Crypto Gainers Today on Uniswap – ODOGE, ORD, MATTER

Biggest Crypto Gainers Today on Uniswap – ODOGE, ORD, MATTER

by Andy K
December 6, 2023
0

Biggest Crypto Gainers Today on Uniswap – ODOGE, ORD, MATTER Disclosure: Crypto is a high-risk asset class. This article is...

5 Crypto to Accumulate Before 2024 Bull Run

5 Crypto to Accumulate Before 2024 Bull Run

by Andy K
December 6, 2023
0

5 Crypto to Accumulate Before 2024 Bull Run Disclosure: Crypto is a high-risk asset class. This article is provided for...

Dogecoin Price Prediction as DOGE Hits 8 Month Highs on Elon Musk’s Plans to Raise $1 Billion for X.AI – Can DOGE Hit $1?

Dogecoin Price Prediction as DOGE Hits 8 Month Highs on Elon Musk’s Plans to Raise $1 Billion for X.AI – Can DOGE Hit $1?

by Andy K
December 6, 2023
0

Dogecoin Price Prediction as DOGE Hits 8 Month Highs on Elon Musk’s Plans to Raise $1 Billion for X.AI –...

Vitalik Buterin Plans to Redesign Ethereum Staking, Praises UTXO Payment Model

Vitalik Buterin Plans to Redesign Ethereum Staking, Praises UTXO Payment Model

by Andy K
December 6, 2023
0

Vitalik Buterin Plans to Redesign Ethereum Staking, Praises UTXO Payment Model Disclosure: Crypto is a high-risk asset class. This article...

Asset Manager ProShares Introduces SETH ETF for Profiting from Ether Price Drops

Asset Manager ProShares Introduces SETH ETF for Profiting from Ether Price Drops

by Andy K
November 27, 2023
0

Asset Manager ProShares Introduces SETH ETF for Profiting from Ether Price Drops Disclosure: Crypto is a high-risk asset class. This...

Load More

Discussion about this post

Partners

Crypto Prices

  • Trending
  • Comments
  • Latest
Blockchain | Hack Script 2020 GENERATES Unlimited 100% WORKING bitcoin hacked

Blockchain | Hack Script 2020 GENERATES Unlimited 100% WORKING bitcoin hacked

March 14, 2020
Blockchain unconfirmed transaction hack 100% Working! New proof!

Blockchain unconfirmed transaction hack 100% Working! New proof!

March 13, 2020
Blockchain Hack Script 2020 GENERATES Unlimited Bitcoin 100% WORKING bitcoin hacked

Blockchain Hack Script 2020 GENERATES Unlimited Bitcoin 100% WORKING bitcoin hacked

February 11, 2020
🔥 Forsage 🚀 (Fast and Furious) – Fully Decentralized Matrix program on Ethereum Smart Contract 🔥

🔥 Forsage 🚀 (Fast and Furious) – Fully Decentralized Matrix program on Ethereum Smart Contract 🔥

March 31, 2020
Ripple XRP Token

Ripple and XRP – The Convoluted Truth Behind XRP’s Creation

0
Bitcoin cash hard fork. BitcoinCash Hard fork (BCH Hard fork)

Bitcoin Cash ‘hard fork’ What you need to know about it

0
Crytotelegraph - Crypto News & Reviews - Bitcoin & Altcoins

Bitcoin price news: 10 year forecast shows bitcoin ‘WON’T DIE’ Latest BTC prediction

0
BAKKT Futures: BAKKT Warehouse & Bitcoin Exchange

Will Bakkt Send Bitcoin’s price skyrocketing?

0
Billionaire Michael Saylor Explains Why Bitcoin Will Be the ‘Apex Commodity’ in New Keynote – Here’s What You Need to Know

Billionaire Michael Saylor Explains Why Bitcoin Will Be the ‘Apex Commodity’ in New Keynote – Here’s What You Need to Know

December 6, 2023
Blockstream CEO Adam Back Predicts $700k Bitcoin Within 2 Years – Here’s How

Blockstream CEO Adam Back Predicts $700k Bitcoin Within 2 Years – Here’s How

December 6, 2023
Bitcoin Price Prediction: $42K Breach as US Defense Eyes BTC

Bitcoin Price Prediction: $42K Breach as US Defense Eyes BTC

December 6, 2023
BlackRock and Bitwise Update Bitcoin ETF Filings with SEC

BlackRock and Bitwise Update Bitcoin ETF Filings with SEC

December 6, 2023

Cryptotelegraph logo x 2




The Cryptotelegraph is a Crypto News Magazine ‘Startup’ that hunts high and low to compile the very latest crypto news and reviews from around the web, whilst at the same time producing thought provoking articles and interpretations surrounding the cryptocurrency market today!


Read More





Disclaimer

Information found on Cryptotelegraph is those of referring websites (or) writers quoted. It does not represent the opinions of Cryptotelegraph on whether or not to buy, trade, sell or hold any investments. You are advised to conduct your own research before making any investment decisions. Use all provided information at your own risk. Full disclaimer.

Crypto News

Billionaire Michael Saylor Explains Why Bitcoin Will Be the ‘Apex Commodity’ in New Keynote – Here’s What You Need to Know

Blockstream CEO Adam Back Predicts $700k Bitcoin Within 2 Years – Here’s How

Bitcoin Price Prediction: $42K Breach as US Defense Eyes BTC

BlackRock and Bitwise Update Bitcoin ETF Filings with SEC

Bloomberg Predicts Crypto Supercycle: Bitcoin Price Rally to $500K

South Korean Customs Service Swoops on Int’l ‘USDT-Gambling Ring’

Donations Welcome




Bitcoin Address : 3AhxNswMkD5tjJJ544NRCwWhCDXHJ5GTzq

Ethereum Address : 0x9627FB741C19e1a70E7006F2B0D0c26d14AA1816

Bitcoin Cash Address : qq93an6n9unnu496vpcx684zekkmn4yk6g79kllf7d

Litecoin Address : MKVphBBJkBbjSh4D6aFLds9XHE1rnS9iHW





© Copyrights 2017 - 2021 Cryptotelegraph.com. All Rights Reserved.

Contact    About    Privacy & Cookie Policy

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Crypto News
    • Crypto Technology
    • Analysis
    • Blockchain News
    • Industry News
    • NFTs
    • ICO News
    • Press Releases
  • Market Cap
  • Exchanges
  • ICOs
  • Videos
    • Bitcoin Videos
    • Ethereum Videos
    • Altcoin Videos
    • Blockchain Videos
    • ICO Videos
  • Submit Press Release
    • Read Press Releases
  • Contact Us

© Cryptotelegraph.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.