The May market crash and its resulting bearish trend caused massive losses for investors. But the Ethereum merge adverse effect was an unforeseen force. The crypto market has recorded more pullbacks than rallies since September 15.
Many analysts, especially Ethereum supporters, hyped the merge, making others believe it’ll reverse the market. Unfortunately, after the upgrade, Ether and other cryptos crashed. Even Bitcoin lost $1000 a few minutes after the event.
Related Reading: Ethereum Proof Of Work (ETHW) Gains 30%, Is More Upside Coming?
The market is still in the Red
On September 19, many cryptocurrencies were all red in their 1hour price gain, 24 hours, and 7 days trend. The number one crypto started the day in red, causing more panic in the market. BTC