When is the Ethereum pump going to stop because it’s gained 50% on bitcoin in the last month and it doesn’t show too many signs of slowing?
When is it going to slow my guess is early September? I’m going to say around labor day weekend. I could be wrong and it could pump until mid-month but the reason I don’t think so is I’ve seen these by the rumors sell the news things. Generally, they stop a few weeks before the actual event happens. Some of the whales want to get out early so they don’t miss the top.
So probably somewhere around labor day weekend maybe even the like sixth or seventh if we’re lucky at that. It will stop sometime and I think September could be a pretty hard crash for Ethereum because people will actually sell the Ethereum merge news also September is supposed to be a bearish month, that’s why I think selling towards the beginning of September is a really good idea.
Ethereum Pump: Now, why is September a bearish month I mean that’s more of a psychological thing than anything else there’s no real reason why September should be bearish. The stock market wise it’s historically bearish and people just have this feeling that September is a selling month. If there are really big developments and if the inflation numbers are positive I don’t think it’ll be such a big sell month.
For Ethereum, I think it will be a selling month because of the buy the rumor sell the news type of thing and I don’t think eth can escape from that. Once again as I’ve mentioned before eth does not solve its scaling problems with the merge. You have to wait for the splurge or whatever the hell comes next after the merge and that will take a couple of years.
So there’s all this anticipation all this hype built up they’re like oh my god eth can be so efficient after the merge. No, the merge is going to make Ethereum I think more centralized because remember I mentioned in my last article lido, Binance, Kraken, and Coinbase control over 50 of the staking power of eth. and that really won’t impact price because people really won’t start thinking about that until much much later but they’ll also discover that hey you know the Ethereum fees once the blockchain picks up aren’t any better.
Ethereum Pump: Why because you still really don’t have sharding and plasma in yet and that will take probably another year and a half two years to even really contemplate getting ready to test again, If um Vitalik said after the merge Ethereum will be 55 percent done. They’ve been working on Ethereum 2.0 for like six years.
So you got another five years to wait before it’s completely done. I think there’ll be a little bit of a disappointment about that. I do think people will sell out also know people want to cash out on their massive earnings on Ethereum because it has gained so much on BTC. So I think it would be very good to sell out towards the beginning of September. I think there will be a pretty devastating drop at least about bitcoin after the merge and it could be a pretty devastating drop in terms of the dollar if indeed September is bearish like it usually is.