NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead

Ethereum To Delayed Merge?, ETH Price Plunges Below $1,700

Reynaldo Marquez
Reynaldo Marquez
Last Updated: June 10, 2022 10:51 pm
2 mins read
ethereum

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Ethereum has broken below $1,700 since July 2021. At that time, ETH’s price was reacting to the downside due to an increase in selling pressure across the crypto market.

Related Reading | TA: Ethereum Holds Key Support, Why ETH Must Clear This Hurdle

This time, Ethereum seems to be reacting to poor macro-economic conditions, and a potential delay in its most important milestone in recent history: The Merge. The event that will complete ETH’s transition to a Proof-of-Stake (PoS) blockchain.

At the time of writing, Ethereum (ETH) trades at $1,680 with a 6% and 8% loss in the last 24-hours and 7-days, respectively. ETH is one of the worst performers in the top 10 by market cap followed by Solana (SOL), Dogecoin (DOGE), and XRP.

Ethereum ETH ETHUSD Merge
ETH with minor losses on the 4-hour chart. Source: ETHUSD Tradingview

The Ethereum network recently saw the successful deployment of “The Merge” on its oldest testnet, Ropsten. This was celebrated by the community with many claiming a mainnet launch could be possible by August or September this year.

“The Merge” implementation on Ropsten saw some difficulties, but ETH core developer Tim Beiko claimed they were addressed and “all fixed”.

The Difficulty Bomb is part of the mechanism that will enable Ethereum to migrate to a PoS consensus. This mechanism will progressively increase mining difficulty and prevent these actors to support a second ETH based on Proof-of-Work (PoW).

As Beiko explained, the Difficulty Bomb is already having an impact on the network:

The bomb is being felt on the network, and, in true bomb fashion, it appeared quicker than predicted Block times are ~14s and the Arrow Glacier EIP (authored by yours truly) predicted “a ~0.1 second delay to block time by June 2022 and a ~0.5 second delay by July 2022.

ETH core developers agreed on delaying this mechanism for at least 2 months. This will provide them with more time to work on the migration to a PoS consensus.

What A Difficulty Bomb Delayed Means For Ethereum

However, ETH core developers seem to disagree on what delaying the Difficulty Bomb implies for Ethereum. Ben Edgington, Lead Product Manager for Teku, an Eth2 client developed by ConsenSys, announced the following:

(…) we will push back the Ethereum difficulty bomb. We say it won’t delay the Merge. I sincerely hope not. Every extra week on PoW generates close to 1 Million tonnes of CO2 emissions.

Edgington believes developers should agree on a Merge mainnet target. In that way, clients and the ETH community can “prepare”.

In that sense, Beiko replied that the event is still expected to take place at some point from August to November this year. He believes only a “catastrophic event” could delay “The Merge” this year.

Beiko concluded the following on setting a specific date for “The Merge”:

I guess my view is that having an explicit target, at this point, basically wouldn’t change the speed of output from client teams, at least on the EL (Execution Layer). We have many implicit ones (devcon, bomb) as well as intrinsic motivation.

Related Reading | Bitcoin Spot To Derivatives Flow Forms Historical Bullish Pattern

Despite the progress on this important ETH event, the market is already soft, and any potential signs of weakness could contribute to an increase in selling pressure.

Tweet123Share196ShareSend
Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum Rebounds Modestly

Ethereum Rebounds Modestly While Bulls Struggle Against Overhead Resistance

Ethereum price failed to stay above $3,050 and tested $2,950. ETH is now attempting to recover but faces resistance near...

Aayush Jindal 1 day ago
Crypto

Crypto Market Wipes Out $1 Trillion Since October: Analyzing The Forces Behind The Crash

Since October 6, the crypto market has lost over $1.1 trillion in value. Analysts from The Bull Theory examined the...

Ronaldo Marquez 2 days ago
Ethereum Breaks $3K Floor

Ethereum Breaks $3K Floor as Bears Press for Additional Downside

Ethereum price failed to stay above $3,150 and extended losses. ETH is down over 5% and might struggle to recover...

Aayush Jindal 2 days ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum

Ethereum Is Sitting On Its Most Critical On-Chain Support Level — A Rally Emerging?

Godspower Owie 8 hours ago
Ethereum Price Uphill Battle

Ethereum Price Uphill Battle Continues as Sellers Hold the Advantage

Aayush Jindal 22 hours ago
Ethereum news

Ethereum Price Will Bottom This Week, Predicts Tom Lee

Jake Simmons 1 day ago

Premium Sponsors

Press Releases

  • ドージコイン 今後:ETFが7日後に開始予定、0.20ドル未満で買える最後の機会となるのか

    ドージコイン...

    12 hours ago
  • リップル 今後:保有者の42%が含み損に直面、XRPはどこまで下落するのか

    リップル...

    12 hours ago
  • 仮想通貨プレセール:11月に注目すべき将来性の高い5つのコイン

    ...

    12 hours ago
  • 仮想通貨おすすめ:ホエール買いが拡大する中、専門家は下落局面の終了と価格回復を指摘

    ...

    12 hours ago
  • 新しい仮想通貨が2800万ドル超を調達──クジラ資金流入でビットコイン反発の兆しはあるのか?

    ...

    13 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.