Ethereum (ETH) And Crypto Market Could See Higher Prices This Month

The date for the highly anticipated Ethereum mainnet merger is fast approaching. Crypto community members believe it will decide the fate of both Ethereum blockchain and wider crypto ecosystem. But, another important event is scheduled for the same date that could impact the market: the release of US CPI/inflation data.

Crypto Analyst: Crypto Market Merger Will Not Change The Future Of ETH and The Whole Market

Cred is a renowned crypto analyst who has assessed the hype around the forthcoming Ethereum Merge event. It would not have any impact on the cryptocurrency market or the ETH price regardless of what happens. 

Related Reading: Why Ethereum Price Longs Might Profit Ahead Of “The Merge”

After several successful test nets, the Merge will go live in September 2013. This would allow the Ethereum Blockchain to transition from its energy-intensive PoW consensus system and move onto the PoS scheme with 99.95% lower energy consumption.

The price of ETH has increased by over 40% since July, when it was $1000 to $1500. After the successful completion of the Goerli final testnet, it went from $1600 up to $2000 by mid-August. Merge supporters claim that it will trigger a spike in ETH as well as the overall crypto market when fully operational.Source: ETHUSD price chart at

Ethereum’s price is currently trading above $1,600. | Source: ETHUSD price chart from

CPI and Inflation Data publication is what really matters.

Cred says that the real event that will make the difference is the publication of latest inflation data. 

US Consumer Price Index (CPI). PublicationThe 13th of September will see the release of inflation and economic data. Things could improve for ETH or crypto overall if the Fed relaxes and becomes more dovish. Crypto winter may not end if Federal Reserve keeps its neutral outlook and hawkish outlook. 

Cred: The Market Will Credit the Wrong Catalyst

The analyst believes that crypto communities will credit the Ethereum Merge with any success, rather than looking at macroeconomic data. That’s because the last time that ETH rallied was due to the “big counter-trend rally in stocks” caused by “macro” that bounced into Ethereum. Cred thinks the same thing will occur in the merging of the inflation data print.

Read Related Article: Crypto is Back With Extreme Fear In Big Way

According to the analyst in crypto,

“if ETH dumps, as a result, everyone will say, ‘Oh look well the merge is priced in. It was obvious.’ If ETH doesn’t dump; as a result, people will say, ‘The merge wasn’t priced in, and it’s just the start.’”

Cred is of the opinion that it is false causality. 

According to CoinMarketCap Ethereum trades at $1,500.

Featured image taken from Pixabay. Chart from

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