Ethereum Merger may be the most awaited event in the crypto space and therefore with the announcement of the release date, the ETH price spiked high. Recently, the ultimate testnet prior to the mainnet release, Goerli went live without major technical flaws. Therefore, it really is now believed that the Mainnet Merger could also perform without much hassle.
Among the lead developers of Ethereum announced that the initial phase of the Ethereum Merger, The Bellatrix is approximately to occur on September 06.
The developer explains the procedure of the merge, explaining that the specific transition will occur upon hitting a particular Total Difficulty Value of 58750000000000000000000 on the Proof-of-Work chain. Therefore, before merge, a bug bounty pay-outs have already been rolled out to curb the loopholes of the network.
How High Will ETH Price Rise Upon Merge?
The Ethereum price is trading across the ascending trend line and rebounded every time it tested the low support. Recently, the asset flipped maybe once or twice and therefore formed a double bottom pattern. The ETH price is closely hovering round the resistance or the neckline, looking forward to a solid bullish push.
The Ethereum price immediately after the lauch of the initial phase of the Merger may spike high to attain $1800 gaining a lot more than 12%. However, maintaining a substantial bullish movement, the next largest crypto could also hit $2000 prior to the end of Q3 2022. Therefore, setting up a bullish start for another quarter looking to reach the ATH.