Ethereum Merge To Trigger A Triple-Halving Event

The Ethereum price had a serious boost right after a special announcement. Tim Beiko states that the ETH merge will likely happen in September. It is not just ETH that is soaring these days. 

The Merge

The entire cryptocurrency market has retained back its $1 trillion mark after Ethereum embarked on its first place rally of 2022. The highly anticipated ETH merge is dubbed to be one of the biggest upgrades the crypto market has ever seen. It is also described by experts as one of the biggest the crypto industry will ever see. 

However, earlier predictions around the merge scared most ETH investors. Especially the group that denoted that the ETH Merge will be another failure just like Terra 2.0. Well, they actually had every right to have this train of thought given the current predicament of the crypto market.

Since the announcement, ETH has risen by about 50%, quickly recovering from the sharp market decline. 

Currently, analysts are waiting for Ethereum to each $5,000, if the Merge upgrade is successful.  As the big event draws closer, the crypto market is preparing to experience an increase in values.

Recently, Bitmex founder, Arthur Hayes predicted that Ethereum is gearing up for an intense price rally. One that will enable the token to reach the long awaited $5,000 mark. Hayes also stated that the current market value of ethereum give massive investment opportunities. Especially to buyers because it is currently selling at around 70% below its model price range of $2,000.

Considering that the launch of the Merge will take place in September, Hayes gives a rather succinct prediction. He predicts that the mantra the Feds have lived by will come into play even in this case. Hayes says that the Feds will promote growth rather than fight inflation. He belives that this approach will provide support for the already suffering economy of the country. The approach offers more buying power to cryptocurrency investors and that is exactly what the industry needs right now.

With the Ethereum merge successful in September, the token will most likely breach the $5,000 mark by 2023.

The Ethereum Triple-Halving Event    

According to the predictions of crypto experts, the launch of the Merge upgrade will trigger a triple-halving event for crypto. They are of the opinion that since Bitcoin reacted quite positively to its halving, ethereum will react the same. Its rather logical. Its only right that experts make these kind of predictions since  both coins are quite closely related.

Now, it is important that we understand the reason behind ‘halving’ and the significance it hold in raising the value of ethereum.

When the Ethereum network turns to the Proof-of-Stake consensus mechanism after the Merge upgrade is successful, the ETH supply will decline. This decline will be a gargantuan kind, ETH will decline by about 80% through a process called ‘burning’. This will lead to generation of ‘deflationary pressure’ on the network. This is equal to halving the Bitcoin system three times, its triple-halving for Ethereum.

The crypto’s EIP-1599 protocol, accompanied by the PoS consensus algorithm will drastically reduce the issuance of ETH. After this development, the demand for Ethereum is expected to increase in the coming months.

The Best Time To Buy Ethereum?  

Based on expert’s perspective, Ethereum 2.0 is supposed to establish a stronghold for crypto in the DeFi and web3 industries. This leaves little room for Bitcoin to reign as the biggest cryptocurrency in the world. Hayes thinks now is the best time to buy Ethereum and hold. The token currently looks towards generating massive amounts of profits in the future.