Ethereum Price Prediction August 2022
Last Updated on 1 August 2022 by CryptoTips.eu
Even more than Bitcoin and tech stocks, Ethereum had a stellar month of July. Having dipped to around $900 in June, it found support in the beginning of July at the $1,000 price point and as rumors of the long-awaited move to Proof of Stake, referred by the cryptosphere as “the merge“ (rather than Ethereum 2.0) began to take over headlines, the coin has been on a roll.
I put $1m into $ETH at $1,100. Now it's $1,700. https://t.co/goPTSXaaHV
— The Moon | Carl (@TheMoonCarl) July 31, 2022
The merge is now set for September which sent the price of ether first to over $1,500 and then on to $1,700 in July. So what will happen in August? Let’s hear from two experts.
Vitalik and CryptoMich
Ethereum founder Vitalik Buterin has been silent about the price of Ethereum (and Bitcoin) for most of the past two years, which is why his words are now so significant. Speaking during a YouTube crypto podcast (Bankless) this week, he announced that he still doesn’t think ethereum’s long-awaited merge upgrade is fully “priced in”—predicting that “once the merge happens, morale is gonna go way up.”
I basically expect that the merge is going to be kind of, not priced in, by which I mean like not even just like market terms, but even just kind of like psychological and narrative terms.
Reflecting on the past two years and the many crypto companies that crashed, Buterin said:
Market booms attract a lot of people and get people excited, which is good, but they give people way too much of an impression of what the space is promising.
Flippening
CryptoMich, the twitter handle of Dutch analyst Michael van de Poppe, seems to agree that a bullish move could be in the making for August. Speaking on his channel, he said:
When it comes to Ether, I think the trend is going to continue too, based on the fact that the merge is going to happen relatively fast.
Michael did put in a warning though, stating:
When the merge is going to happen, probably then we’re going to have a selloff.
All the talk of Ethereum’s merge is fueling hope for “the Flippening“ to happen even sooner. The flippening refers to a future moment in time when ether is predicted to overtake bitcoin in terms of growth as they uncouple on their growth trajectory.
