During the early trading hours, Ethereum briefly dipped below a crucial support level, extending ongoing falls that have been underway over the past few days. Most of the top 100 cryptocurrencies fell during Monday’s sell-off, and as of this writing, the market cap of all assets was down by 1.61%. Bitcoin, too, has dipped and is now trading just under $21,000.
Investors in the crypto bear market are now looking to price charts to find comfort in patterns after a long and cold winter. The two most valuable cryptocurrencies, Ether (ETH) and Bitcoin (BTC) have been range bound for more than a month around their lower support levels.
Will The ETH Merge Improve Crypto Conditions?
In a recent interview with cnbc
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meltem demirors cso at coinshares CoinShare’s Chief Strategy Officer is Meltem Demirors. She was born in 1987 in the Netherlands into a family of emigrants from a farming community, in southern turkey. She is a prominent investor, cryptocurrency proponent, and investment strategist based in the United States. She has occupied major positions at companies like digital Group, ExxonMobile, Deloitte Consulting, the world economic Forum, and coin share. She first became involved in bitcoin investment when she met Bary Silbert, The CEO, and founder of the digital currency group.
She graduated from Rice University in 2009 with B A in Mathematical economics. And in 2015 she graduated from the MIT Sloan School of Management with a master’s of Business administration. Since 2018 she has been a chief strategy officer at Coinshares, she is a member of the Global Future Council on Blockchain of the world economic Forum. From 2015-to 2018, she was the director of development at Digital currency group (DGC) a firm focused on building and supporting bitcoin and blockchain companies by leveraging its insights, network, and access to Capital.
She accepts that the crypto market in 2022 will imitate last year’s development. She anticipates the presentation of crypto guidelines across the globe and fundamentally in the United States, which will be supplemented by an extending crypto market cap. She figures an ascent in the number of financial backers that will reinvest their Bitcoin benefits into new crypto projects with at least some expectations of more noteworthy material appreciation this year. In any case, she accepts that this year will see more prominent contributions from standard financial backers as Bitcoin breaks controlled markets through corporate contributions. EntrepreneurChief Strategy OfficerMarket Analyst 
Followers : 0 View profile , the CSO of coinshares 
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In her analysis of bitcoin org 
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She warns that enthusiastic investors may be seeing the upgrade in a vacuum that ignores the broader market dynamics, as people are increasingly turning their attention to ethereum 
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Followers : 0 View profile and the hoopla surrounding its expected mid-September shift from proof-of-work to proof-of-stake.
She also mentions that while the Merge will unquestionably make Ethereum a better operational project, she doesn’t necessarily anticipate huge inflows of investment capital to drive ETH’s price stratospheric.
What’s Next For Bitcoin and Ethereum
After a recent 17% drop to $21,283, Bitcoin is currently consolidating closely. If the $20,750 support level is broken, there may be a 15% sell-off to the range bottom of $17,578. A sweep of $20,750 and a swift recovery, though, might result in a 12% uptick to $23,175.
Following Bitcoin’s lead, Ethereum fell by about 19% between August 18 and August 20. The recovery appears to be briefer, though, since ETH is already retreating. Investors should anticipate a slight increase to $1,675 to fill the inefficiency and cause its reversal at this point.
This move might, however, go all the way up to $1,730 and build a local top there before turning around and continuing its downward trend. Whatever the location of the local top, the price of Ethereum is set to retest the imbalance to the downside at $1,474.
According to the aforementioned scenario, the major altcoins could experience a bull run in Q3. A rapid sweep followed by a recovery, however, seems a likely result if the capital is split between BTC and ETH.
