September 27, 2022

High Volatility May Be Witnessed With Ethereum’s Merge Implementation, Warning By BitMEX CEO

For years, the Ethereum Merge has been strongly anticipated by the entire cryptocurrency community. It is the most anticipated event that is to take place in mid-September and the investors are all hyped up about the implementation.

Expectations by Crypto Firms

There are many positive predictions and expectations among the investors in terms of the Merge implementation. Even the firms have positive anticipations for the Merge implementation.

However, most cryptocurrency firms are also expecting downsides and hiccups once the implementation takes place.

As all major cryptocurrency firms want to offer the best services to the users, they are trying to find as many flaws and downsides to the implementation as possible.

BitMEX CEO Speaks Up

BitMEX Chief Executive Officer, Alexander Hoptner spoke about the preparations they are making ahead of the Merge implementation.

He talked about what kind of preparations they are making for the implementation of the upgrade. He also talked about the preparations they have been making to deal with any kind of hiccups or obstacles they face with Merge’s implementation.

Hoptner stated that they are preparing for the transition of the PoW protocol to PoS. He also talked about the potential impact of the Merge on the major crypto couple Ether (ETH) and Bitcoin (BTC).

He stated that they have been checking all the boxes in terms of carrying out necessary checks for the upcoming implementation. They have checked all the standards they needed to meet prior to Merge’s implementation.

He added that the most important thing they are paying attention to is to ensure what may go wrong once the implementation takes place. Their aim is to ensure that the implementation is smooth and the services work without any difficulties.

Prediction by Hoptner

Hoptner stated that despite making all the preparations, they are still not sure what may happen once the implementation takes place.

He added that they would know exactly how the protocol and the market react once the Merge is implemented. Hoptner mentioned that the situation might prove to be extremely volatile.

Therefore, they will not be taking any chances and ensure they do not end up facing anything other than volatility.

Hard Fork Needs a Strong Community

Hoptner added that they are expecting that the hard fork implementation would be a success because the community around Ethereum Merge is strong and determined.

He added that most of the time, the hard forks do not find enough support for their mining protocols. This is the reason why the hard fork protocols are always a high risk for the developers.

As the implementation of the Merge is coming closer, the trading price of ETH has started picking up the pace. In the past 7-days, the trading price of ETH is $1,754.94 and it has recorded a 12.05% surge in the same period.