“There is greater potential for an information sales event to enter the merger,” says top analyst

Many speculations around Ethereum (ETH) continue to spread as the Merge upgrade ends. A leading crypto analyst and televangelist has shared his thoughts, warning that the fast approaching Ethereum merger is riskier than traders think.

Brian Kelly, one of CNBC Television’s top crypto analysts and contributor to the TV show Fast Money, noted in a discussion session that Bitcoin (BTC) is not a technology stock but rather a digital gold. According to him, Bitcoin is very necessary, especially when a country destroys its currency as some governments are currently doing.

According to the televangelist, “Ethereum (ETH), on the other hand, can be considered a tech stock in a way, because it’s going to disrupt a lot of what tech stocks are doing today and to the extent that it drives away daily active users. from places like Twitter, Facebook, and Google.”

“I think there’s something to be said for Ethereum (ETH) being a tech stock,” Brian Kelly added. While Bitcoin (BTC) recently fell below $20,000, he mentioned that the crypto has yet to bottom out.

Read also : Ethereum (ETH) miners recorded $733 million in revenue in August 2022

Impact of Ethereum (ETH) merger weighed

The highly anticipated Merge Upgrade is around the corner because it’s going to happen this September 2022. Investors could take advantage of the market downturn to hoard more Ether tokens in hopes that it would see a massive price rally post-merger.

On the recent episode of CNBC’s Fast Money, Brian Kelly shared some possible outcomes regarding the Merge upgrade that aims to upgrade Ethereum (ETH) to the Proof-of-Stake (PoS) consensus algorithm. He pointed out that there is a higher potential for a news selling circumstance to occur before the merger.

Read also : Vitalik Buterin of Ethereum will publish a book titled “Proof of Stake” in September

In his words, “I think it’s probably more ‘sell the news’, which might not be so intuitive because in crypto you usually want to buy the news. But everyone bought Ethereum because they’re going into this merger and now you’re going to get a so-called yield.

“Just so you know, it’s not really a return. You’re just getting your inflation rewards back, so it sort of offsets the inflation of the currency. It’s not really a return,” he added

Additionally, the CNBC contributor pointed out that a technical issue might occur while performing the major upgrade. “I think there are more risks in the Ethereum merger than people realize,” he stated.

Meanwhile, ETH mining will be disabled on the largest smart contract platform end the primary financial opportunity for miners after the Merger.


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