The Merger Makes Crypto Reemerge. But Nothing Seems to Wipe Peoples Fear Away

The Merger Makes Crypto Reemerge. But Nothing Seems to Wipe Peoples Fear Away

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Bellatrix will come into place on September 6th and will upgrade Eth's blockchain to the next stage

 It will be the kicker upgrade that will start turning the gears leading to the Merge allegedly on September the 15 or 16. In another good news Bitcoin gained back its $21,500 support line on Thursday after the devastating dive during the weekends. The equity markets are going up as well. China's stimulus check is doing miracles in the Asian sector. Premarket futures in the U.S. hinting on a good week ahead according to Jackson Hole.
Despite all of the hype around the Merge most traders remain cautious pointing out downside looking technicals for bitcoin and other important factors. Even if the price may surge upwards it is still unclear whether it's going to be enough of momentum to overtake government scrutiny in the sector.
Rafal Tworkoski reckons that even though ETH is switching to proof-of-stake, ETHs token will take some time to follow suit.
But still, with all this great news in the air, technical analysis still shows the down going trend regardless.
He also added that it is very likely that investors are going to take more advantage of ETC, LDO, OP which prices are going to be affected by the Merge far greater than ETHs.

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