Nicholas Merten addressed the current price of Ethereum. Check out the new predictions about the coin below.
Nicholas Merten drops new ETH prediction
It’s been revealed that the popular crypto analyst Nicholas Merten says Ethereum (ETH) has a solid shot at rallies in the coming months as the top smart contract platform approaches its highly anticipated transition to proof of stake.
In a new video update, the host of DataDash talked about a recent prediction from BitMEX founder Arthur Hayes forecasting an ETH rally to $5,000 on the back of a successful transition to proof-of-stake.
More than that, he talks about a reversal on monetary tightening from the Federal Reserve.
Merten said a 180-degree turn from the Fed anytime soon is likely overly optimistic, but a slow down in interest rate hikes is on the table.
It’s also important to note that Ethereum has seen big bear market rallies in the past, Merten says that $5,000 ETH still seems like a long shot.
“All the while I do expect the Fed will pivot, and even though I expect that there’s very good chance that in September, Ethereum will finally actually deliver, and I see that reflect in price action, I think people are getting degree in confidence now.”
He continued and said:
“Considering those things, I don’t see us going all the way up to $5,000. Not only would this just be absolutely foreign to what we had in previous bear markets, but on top of that as well, I just want to go ahead and put things in context.”
Thje current crypto state
Raoul Pal is addressing the single best time to buy bonds. Check out the post that he shared on his social media account below.
Some people criticized him for the post that he shared due to the Soros reference.
Raoul Pal addresses bonds
Check out the tweet that he shared below:
As Soros writes in his exceptional “The Alchemy of Finance” – the single best time to buy bonds is when the yield curve is inverted.