@BOMBERuss 18 July 2022 more from that month

The #Ethereum exchange rate has grown by 20% over the past week and continued to grow this morning, reaching $1,412. Euphoria due to the upcoming transition to Proof-of-Stake or a bull trap? At the time of writing this morning, Ethereum was significantly ahead of bitcoin in terms of growth rates. At the same time, a popular cryptanalyst and trader under the nickname Bluntz noted that the #ETH exchange rate has recovered above the 200-week moving average. Potentially, this could be a signal that Cohen has found the bottom. The growth rate of ETH intensified by the end of last week after it became known that the Ethereum blockchain could move to a new Proof-of-Stake algorithm as early as September 19. This was reported by one of the developers of the project. Against this background, the ETH rate immediately jumped by more than 12% to $1300. Before moving the main network, the developers plan to complete all updates in the test networks. For example, the #Goerli test network has yet to undergo a "merge" (passing the Merge phase) with the new algorithm on August 11. However, it's too early to celebrate the victory. The ETH #exchange rate is still trading 71% below its historical maximum, marked in November, and the crypto market as a whole continues to be dominated by gloomy moods. Many industry analysts are still waiting for the final capitulation, which will be provoked by a further increase in interest rates by the US Federal Reserve and gloomy news on the topic of recession and inflation. In this case, bitcoin may again go under the $20,000 mark, and Ethereum will probably also follow it in the south direction. In this case, the 3-day ETH pump may turn out to be just a trap for bulls, since the coin has been in line with the downtrend for the last 8 months, and bear markets, as a rule, do not end so quickly. #CryptoCurrency