{"id":32644,"date":"2022-08-02T04:31:45","date_gmt":"2022-08-02T08:31:45","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=32644"},"modified":"2022-08-02T04:31:50","modified_gmt":"2022-08-02T08:31:50","slug":"eth-may-consolidate-as-merge-hype-wanes-expert","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/eth-may-consolidate-as-merge-hype-wanes-expert\/","title":{"rendered":"ETH may consolidate as Merge hype wanes: Expert"},"content":{"rendered":"\n
Markus Thielen thinks that ETH may be entering a consolidation period, making him “conservative” about the currency.<\/h5>\n\n\n\n
\"ETH
ETH may consolidate as Merge hype wanes: Expert<\/figcaption><\/figure>\n\n\n\n

The chief investment officer of asset management company IDEG believes that the price of Ether (ETH) has stabilized after a spike last week.<\/p>\n\n\n\n

Markus Thielen stated in a report that after being positive on ETH pricing six weeks ago, he has since become “conservative.”<\/p>\n\n\n\n

The Fed continues to “ramp up its Quantitative Tightening (QT) policy, which drains liquidity,” according to the thesis, which was based on macroeconomic considerations and price analysis of the cryptocurrency.\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> It was also noted that Ether prices had encountered technical resistance at about $1,800.<\/p>\n\n\n\n

The asset management company added that this occurred at the same time that Ethereum's network revenue fell by 47 percent, total volume locked (TVL) decreased, and the market capitalization of stablecoins dropped as well, with USDC losing $1.1 billion over the previous week.<\/p>\n\n\n\n

Markus Thielen, chief investment officer at IDEG, pointed out that there hasn't been a shift in fundamentals to back the recent price surge.<\/p>\n\n\n\n

Additionally, according to current Google search data, Thielen thinks there is a declining trend in the buzz around the Ethereum Merge<\/a>.<\/p>\n\n\n\n

This “Merge weariness,” according to Thielen, suggests that ETH is preparing for a period of consolidation before the impending Merge on September 19. However, Thielen also noted that this might create more options for purchasing:<\/p>\n\n\n\n

\u201cIdeally, a drop into the end of August would set us up for another great entry-level.\u201d<\/p><\/blockquote>\n\n\n\n

Thielen also made a statement about the intriguing relationship between the present price of ETH and the Ethereum Merge Google search results:<\/a><\/p>\n\n\n\n

\u201cIt is a good indicator for sentiment and interest, but it will eventually break down and become irrelevant. Nevertheless, it might offer some insights into timing current Ethereum's price change into the event.\u201d<\/p><\/blockquote>\n\n\n\n

Following the Merge, Thielen believes that the speed of adoption rate growth will have a significant impact on ETH price:<\/p>\n\n\n\n

\u201cWhile gas fees might stay the same, the adoption curve might not rise initially as fast as many hope, this could make ETH slightly valued, when measured in pure cashflow terms\u201d.<\/p><\/blockquote>\n\n\n\n

At the time of writing, the price of ETH<\/a> is $1,587, down 6.24 percent from the previous day.<\/p>\n","protected":false},"excerpt":{"rendered":"

Markus Thielen thinks that ETH may be entering a consolidation period, making him “conservative” about the currency. The chief investment officer of asset management company IDEG believes that the price of Ether (ETH) has stabilized after a spike last week. Markus Thielen stated in a report that after being positive on ETH pricing six weeks […]<\/p>\n","protected":false},"author":38,"featured_media":32648,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[153],"class_list":["post-32644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/08\/169950474-s-1280x720-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/32644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=32644"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/32644\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/32648"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=32644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=32644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=32644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}