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"Recent upside price action suggests a near-term market bottom is in place and that prices can continue to work sideways to higher in the near term," Wyckoff said. The major story in crypto this week is the Ethereum Merge, which is scheduled to take place in less than three days, around 12:00 GMT or a little after on September 15.
The analyst also highlighted the potential risks posed by the proposed ETHpow proof of work version of Ethereum, which currently has a grey market valuation of around 3% of the value of the Ethereum mainnet."It wouldn't be surprising to see ETH fall by ~3% immediately after even a successful Merge, akin to a stock going ex-dividend," Weller said.
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Source: KitcoNewsNOW - 🏆 13. / 78 Read more »