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Bank of America: While the Merger Has Boosted the Price of Ethereum in the Short-Term, the Long-Term Outlook Is Still Not Optimistic

By WebsCryptoAugust 27, 20221 Min Read
Bank of America: While the Merger Has Boosted the Price of Ethereum in the Short-Term, the Long-Term Outlook Is Still Not Optimistic
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Ethereum ETH 0.34%’s price jump from mid-July to mid-August is likely to continue to fade as investors gain a better understanding of ethereum’s technical upgrade and future blockchain upgrades, Bank of America said in a report Friday. influences.

“Investors may realize that Ethereum’s transition to proof-of-stake (PoS) will not address scalability issues or high transaction fees,” Bank of America analyst Alkesh Shah wrote in a note to clients.

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Traders stressed that while the consolidation may have driven Ethereum’s short-term price appreciation, the asset’s long-term outlook remains bleak given weak macroeconomic sentiment and Bitcoin BTC -0.13%’s technicals pointing to the downside.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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