Many crypto investors wonder what effect will The Merge have on Ethereum. The expert Gareth Soloway tries to answer it and even predict the price of Ethereum in 5 years.
Should we invest in Ethereum today?
Gareth Soloway followed by more than 154,000 crypto investors on Twitter, is an expert trader with more than 20 years of experience in the financial industry. Managing Director of inthemoneystocks.com and verifiedinvestingcrypto.com, he gives us his expert analysis of the possible outcome of The Merge merger.
The Merge is an unprecedented event in the world of cryptocurrencies, which is why many investors are waiting for it. Gareth Soloway comments on this story:
“I think the biggest thing for me with The Merge is, can it go smoothly? And for the whole crypto industry, I think this is a big test. A lot of people are sitting on the sidelines and saying, okay, this is the biggest event we’ve had in crypto in a while. Can they pull it off with ease?“
According to Gareth Soloway if the launch of Merge goes smoothly, Ethereum will be a reliable source for crypto investors.
He does want to warn about The Merge, though. In fact, he tells us that “If things go wrong, we could see a drop in the price of Ethereum. However, I’m sure that The Merge has expanded so that they can verify that the transition is as smooth as possible.
For Gareth Soloway, if The Merge goes well, Ethereum could see a very significant increase. But he adds: “When you get out of there, I would be very careful. I’m not one to buy out of the merger.”
As you can imagine, our financial expert has some concerns about the arrival of The Merge but is generally optimistic. For him, The Merge is more likely to work given all the resources put in place for its proper functioning.
What are the long term predictions?
Crypto investors want to be able to bet on long-term projects. What about Ethereum after The Merge? This is Gareth Soloway’s opinion: “I am very long-term bullish on Bitcoin and Ethereum. I think this is exactly what the cryptocurrency market needs – a deflationary asset that also has this huge use case. And I think it has a longer-term chance of competing with Bitcoin’s market cap.”
However, the expert tells us that if he had to choose between Bitcoin and Ethereum he would choose Bitcoin. For him, Ethereum presents more risk than the main cryptocurrency. Moreover, if we look at the last 5 days, BTC gained 13.75% against 3.44% for Ethereum, just before The Merge.
Bitcoin would therefore be safer according to our expert but he tells us “if you have a lot to play with money, bet on Ethereum”
Just a little nibbling $BTC $ETH. I love the rack down and the opportunities it gives for quick swings. pic.twitter.com/nIfpVM2JcU
— Gareth Soloway (@GarethSoloway) May 9, 2022
Gareth Soloway is ironic about the story: “I just make a little $BTC$ETH. I like the drop and the opportunities it provides for quick swings.”
After The Merge, there are many factors that are likely to “boost the prices” on Ethereum. It could be new regulatory legislation cryptocurrencies that would likely weaken Ethereum. Gareth Soloway also talks about geopolitical risks by mentioning a possible Chinese invasion of Taiwan. According to him, this would have dramatic consequences for crypto.
Another tip from the financial expert for investors islearn how to read graphs. You have to understand what is happening because when greed, rage or fear comes into play, it often marks “pivot points”.
“You never want to be a hunter. You always want to be a leader. And so, you buy when the price goes down, and you sell when it goes up. So you never want to buy when the price is already very high, assuming it will go up. Now, does that mean you lose trades that sometimes go up? Yes of course. But again, capital preservation is how real wealth is built..”
Ethereum price prediction before the end of the year?
Our expert now gives us his prediction by the end of 2022. He estimates that Ethereum will be around $1000.
However, he is much more optimistic about his long-term prediction, Soloway estimates that Ethereum can easily reach $20,000 in 5 years. But the expert takes tweezers again reminding us that the coming years will probably be the most complicated for the cryptocurrency sector.
Finally, the expert ends his vision of cryptos: “In the next bull cycle, the whales will attack Bitcoin and Ethereum, which will be a game changer for the price, which will rise rapidly at that time. I think this is the new frontier and it is here to stay. It’s like the internet, and just remind people that the internet bubble has collapsed. But we all use the internet and our phones – we are addicted. This is what crypto becomes.“
