Bitcoin price changed after Tuesday’s sell-off; Ethereum ‘Merge’ Looms

Bitcoin price changed after Tuesday’s sell-off;  Ethereum ‘Merge’ Looms

Early this morning, the crypto market was subdued since falling the day before, along with broader stock markets.

The two largest coins by market capitalization, Bitcoin (BTC) and Ethereum (ETH), maintained the values ​​they reached on Tuesday. The value of one Bitcoin at the time of writing is $20,379.38, while Ethereum’s value is $1,606.56.

With the Ethereum Merge less than 20 hours away, all eyes are glued to the market and the changes that may occur.

According to Kyle McDonald, an independent researcher, the price of Bitcoin can drop drastically, and he even recommends selling Bitcoin as soon as possible. The reason people may choose to turn to Ethereum or other coins is the fact that they may realize that the incredible energy use was never necessary in the first place.

With the climate crisis we are all witnessing, the huge use of energy for Bitcoin may actually become redundant when the Ethereum Bridge goes live. McDonald believes that Ethereum’s goal of cutting energy costs by 99.95% is achievable.

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