Ethereum’s price plunges 15% after the Merge despite bullish anticipation
EthereumBumaba ng 15% ang presyo ng Ethereum pagkatapos ng Merge sa kabila ng bullish anticipation09 / 20 / 2022Balita ng Ethereum ng Bitcoin After undergoing the historic Pagsamahin ang pag-upgrade, the value of Ethereum (ETH) has continued to correct despite the event being touted as bullish for the assets price. The drop comes after the second-ranked cryptocurrency by market cap exhibited signs of rallying despite the prevailing depressed market conditions. In particular, by press time, Ethereum was trading at $1,360, a drop of about 15% from the $1,600 price recorded on September 15 when the Merge upgrade was officially rolled out. The impact of the Merge anticipation saw Ethereum surge by about 85% from June, when the price appeared to stagnate. Ethereum 1-year price chart. CoinMarketCap. Interestingly, Ethereums performance dwarfed Bitcoin (BTC) before the Merge, which has since struggled to stay above $20,000. However, after the upgrade, Bitcoin only dropped by about 3%. Crypto research platform Kaiko noted: “In what many expected to be a positive week for the price of ether, a successful Merge ended up preceding a significant sell-off of roughly 25% on the week.” Bitcoin and Ethereum price chart. Source: Kaiko. In this line, several factors have been fronted as the key triggers for Ether‘s drop,