Ethereum Merger is the most awaited event in the crypto space and hence with the announcement of the release date, the ETH price spiked high. Recently, the final testnet before the mainnet release, Goerli went live without major technical flaws. Therefore, it is now believed that the Mainnet Merger may also carry out without much hassle.
One of the leading developers of Ethereum announced that the first phase of the Ethereum merger, The Bellatrix, is scheduled to take place on September 06.
The developer explains the process of the merge, explaining that the actual transition will occur upon hitting a specific Total Difficulty Value of 58750000000000000000000 on the Proof-of-Work chain. Therefore, until the merge, a bug bounty pay-outs have been rolled out to curb the loopholes of the network.
By how much will the price of ETH increase upon merger?
Ethereum price is trading along an ascending trend line and bounced back every time it tests lower support. Recently, the asset flipped twice and hence formed a double bottom pattern. ETH price is hovering around the resistance or neckline, waiting for a strong bullish push.
The Ethereum price soon after the lauch of the first phase of the Merger may spike high to reach $1800 gaining more than 12%. However, maintaining a significant bullish movement, the second largest crypto may also hit $2000 before the end of Q3 2022. Therefore, laying down a bullish start for the next quarter aiming to reach the ATH.
