Ethereum Classic (ETC) price could rally ahead of Ethereum’s transition to Proof-of-Stake (PoS)
The pseudonymous host of a popular crypto market commentary shows Coin Bureau is predicting that Ethereum Classic (ETC) could rally ahead of Ethereum’s transition to proof-of-stake (PoS).
Coin Bureau Predicts Ethereum Classic (ETC) Could Benefit From ‘The Merge’
According to a recent YouTube video, Coin Bureau’s host “Guy” told viewers that Ethereum Classic could benefit from Ethereum’s long-awaited upgrade, dubbed “The Merge.” The upgrade is expected to be a massive overhaul for Ethereum, completing the blockchain’s transition from proof-of-work to proof-of-stake and making the network more sustainable.
Guy said: “ETC is rallying because of speculation that Ethereum Classic will benefit when Ethereum completes the merge. ETC was one of last week’s top-performing cryptos, too, so I’ll reiterate what I said back then – be careful. With that said, if that bull flag on the daily plays out, ETC could rally as high as $40 in the coming weeks.”
Guy also predicted that Bitcoin’s price would dip during the lead-up to The Merge, with all of the investor excitement being devoted to Ethereum. He noted that BTC’s daily charts were showing a short-term downturn, which he expected to broaden to Bitcoin’s weekly price performance.
Despite predicting a dip ahead, Coin Bureau’s host was bullish on Bitcoin’s long-term outlook. He predicted the price of BTC would rally following the near-term dip, reaching as high as $30,000 in August or early September.
Read more:
- Ethereum Reports Increased Network Usage, Whales Have Been Actively Transacting ETH In Last 24 Hours
- Ethereum’s Merge Will Pull The Crypto Market Out Of Its Current Bear Market