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Ethereum Could See Massive Rally Due To This Factor

The crypto market is seeing more bloody moves these days, amidst the terrible geo-political situation around the world. Check out the latest price predicitons about Ethereum below.

Ethereum could see a massive rally

A popular crypto strategist says that Ethereum (ETH) and the crypto markets could ignite sharp rallies this month. This is regardless of what happens in the highly anticipated merge.

In a new strategy session, Cred highlighted the fact that the merge is scheduled to happen on the same day (September 13th) that the latest inflation data is released.

According to Cred, the inflation data will likely dictate the price action of the crypto markets rather than the merge.

“A quick note on the whole merge thing. The merge is supposed to go live on the same day that we get US CPI (consumer price index) print and inflation data. I really think the inflation data is going to guide the market and the correlation that we have with equities will be in the driver’s seat.”

The analyst continued and said this:

“If it’s a dovish surprise and if the data is good and we can expect the Fed to soften its stance, then I think ETH and risk assets will rally from that massively.”

The same analyst also pointed out the following:

“If it’s hawkish or even neutral to be honest or no change in tone, then I don’t really see a big change in conditions and probably still looks choppy and downtrendy. So I think it’s a bit of a distraction just on the merge as an event.”

Regarding the price of Ethereum, at the moment of writing this article, ETH is trading in the red, and the coin is priced at $18,970.

Stay tuned for more news, and make sure to check out the crypto market prices.

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