The Ethereum merge won’t do anything in the short-medium term regarding price action

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To me it feels like a lot of people are interpreting the “Issuance will drop by 90%” part as “Ethereum supply will drop by 90%” which is simply not true. You have to look past the buzzwords and promises which were made last year during what was possibly the world’s most synthetic bull run, both in stocks and in crypto. Ethereum will still have ~125 million tokens from which it is very easy for money to leave and tank the price. Sure the network will get speedier and staking + burning will take Ethereum out of circulation which would normally have a positive effect on price but we have to keep in mind that a recession is currently in the making, monetary policy is tightening and the last thing on most people’s minds is a random niche high risk asset receiving a supposedly revolutionary upgrade. In the long term sure, Ethereum 2.0 will be incredible but in the short term, even with Ethereum 2.0 in place, I see the price still tanking all the way to $500

submitted by /u/Brilliant999
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