Overview:
- Jiang Zhuoer, Founder and CEO of BTC.TOP Mining, predicts that the ongoing crypto bear market will close at the end of 2022 and may close at the same time as the Ethereum merger.
- He also expects the Ethereum merger to occur between October and December.
- With Marge and EIP-1559, Ethereum will be the first real deflation token.
- Zhuoer also expects the Federal Reserve to suspend interest rate hikes in September 2022.
Jian Zhuoer, Founder and CEO of BTC.TOP Mining Company, twitter He predicted that the ongoing crypto bear market would end at the end of this year.
The end of the crypto bear market coincides with the merger of Ethereum
According to his analysis, this bull market ended in November 2021 and is ongoing when using the 4-year Bitcoin cycle as a reference. Crypto Bear Market Ends in 2022 and is consistent with the ETH merge.he Said:
This bull market ended on November 10, 2021 (the end of the four-year cycle) and reiterated history.
According to this, the bear market will end at the end of 2022, consistent with the switch to POS for ETH.
Ethereum value benefits from merger and EIP1559
Zhuoer anticipates that when it comes to switching to Ethereum’s Proof of Stake algorithm. It would be held Between October and December of this year.
He added that the merger will produce 80% to 90% of Ethereum. Such a reduction in ETH production corresponds to two or three Bitcoin halving events. If the EIP1559 combustion mechanism is also taken into account, Ethereum should be the first actual deflationary token.
In addition, such a scenario of Ethereum as a deflationary asset would most likely make ETH the next bull market leader. He said:
As a necessary element for new application + Web3, # Ethereum Become a leader in launching the next bull market.
The Federal Reserve is most likely to suspend interest rate hikes in September
About in progress Interest rate hike According to the US Federal Reserve Board, BTC.TOP’s Juan Zhuoer predicted that the Fed could suspend interest rate hikes in September and begin the possibility of a crypto market recovery. He said:
Sixty-five new COVID-19 cases were reported on May 29, and Shanghai will end its blockade on June 1.
A large amount of goods can be exported from Shanghai to the United States to curb inflation. The Federal Reserve may suspend growing interest in September and the party will continue.
