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Ethereum prices show bearish signs below $1920 against the US dollar. If the support area of $1800 is cleared, ETH may continue to decline

Pengpai News Reporter Wang HuirongThe blockchain network Ethereum behind the world's second largest cryptocurrency, Ethereum (ETH), will officially "merge" on September 6th.On August 24th local time, the Ethereum Foundation posted a blog stating: "After years of hard work, Ethereum's Proof of Rights (PoS) upgrade has finally arrived! The successful upgrade of all public testing networks has been completed, and the merger of Ethereum's main network is already being arrangedThe transition from proof-of-work (PoW) to proof of equity (PoS) of Ethereum main network is called "merger"

Reported by Zhao Yi, Hu Jinhua, a reporter from China Times (www.chinatimes

After the current overall market adjustment, Ethereum experienced a reversal in the middle of the week. This correction was accompanied by a sharp drop near $1900 and has remained calm since then

On September 15th at 14:00, the world's second largest blockchain Ethereum "Merge" was completed, and the main network was combined with the PoS consensus layer beacon chain (Beacon chain). Merger has become one of the most important events in the history of encryption by the market. After the completion of the "merger", Ethereum has successfully "merged" from the proof-of-work to the equity certificate. The mechanism after the "merger" will bid farewell to the era of large-scale mining. Reporters from Beijing Youth Daily saw on the blockchain forum that many former blockchain "miners" were lamenting the end of an era. Will blockchain 'miners' who were once popular lose their jobs? What impact will this have on the global mining machinery industry chain?The merger will reduce energy consumption by 99.95%According to OKLink data, Ethereum, the world's most active blockchain network, triggered a merge mechanism at block height 15537393 and produced the first PoS block (height 15537394). Since then, the Ethereum consensus has officially transitioned from PoW to PoS mechanism, completing the "TheMerge" upgrade. This will bring significant changes to the Ethereum network, including a 99.95% reduction in energy consumption and a 90% reduction in ETH issuance. According to CoinMarketCap data, the real-time price of Ethereum is approximately $1590, with a price drop of approximately 1.11% within 24 hours. Afterwards, it regained the $1600 level and had a market value of over $190 billion.Merging new mechanisms to bid farewell to the era of large-scale mining machinery "mining"Ethereum is a public blockchain platform, with its cryptocurrency being Ethereum ETH. Under the traditional "proof-of-work" mechanism, in the past few years, a large number of "mine owners" have purchased high-performance graphics cards to dig ETH mines. For miners, if they mine on the Ethereum main network, after merging, each network will operate entirely based on the PoS proof of rights mechanism. At that time, the traditional proof-of-work mining will no longer be available on the Ethereum network. Ethermine, the world's largest Ethereum ore pool, announced the termination of proof-of-work related services, and will no longer follow the proof-of-work bifurcation.Ethereum originally used the PoW (proof of work) proof-of-work mechanism, and the "miners" of the node competed for the packaging right according to the computing power and obtained the packaging reward. Nowadays, relying on the PoS (proof of stack) equity proof mechanism, Ethereum bid farewell to the era of large-scale mining machines "mining". Holders can "mine" by pledging Ethereum tokens (ETH), with a pledge threshold of 32 ETHs.Will the merger of Ethereum result in a significant unemployment of traditional blockchain miners?Will the merger of Ethereum result in a significant unemployment of traditional blockchain miners?MessariThe Merge 190 POW GPU Web3

Four days after upgrading Ethereum (ETH) Shapella, over 1 million Ethereum has been withdrawn.According to the data, out of 491037 extractions, 1

Blockchain intelligence company Santiment tweeted last night that shortly after the US stock market closed, the cryptocurrency market showed a birth date. The tweet added that the cryptocurrency market leader Bitcoin (BTC) has also moved towards $28500, while the counterfeit currency leader Ethereum (ETH) has climbed to $1900

After the upgrade of Ethereum Shanghai, ETH prices continued to rise, even exceeding the level of $2000. The fresh liquidity in the market has caused a significant increase in trading volume, but experts believe that some corrections are needed before ETH prices begin to rise again

Bitcoin has plummeted again! As of 18:10 on January 24th, the price of Bitcoin has dropped below $34000 per coin, marking the first time since July last year. The past week has seen a drop of over 20%, and this year it has fallen by nearly 30%, almost halving from the historical high of $68928.9 in November 2021.Analysts point out that since the beginning of this year, the higher intensity of regulation by global regulatory agencies on cryptocurrency assets, including Bitcoin, as well as the strengthening expectations of the Federal Reserve's tightening monetary policy, and the widespread selling of US technology stocks, have been the main reasons for Bitcoin's sharp decline.Falling below $34000Coindesk

Highlights of the storyBitcoin prices have fallen from $28000, sparking the possibility of triggering a new wave of bearish sentimentIf the upcoming trend turns bearish, it is expected to form a new low, which may further mark the low point of the 2022-23 bear marketThe cryptocurrency market is attempting to recover from the losses that occurred last weekend, which depleted nearly 10% of global market value. Bitcoin prices have recently reached a low near $27300, with a significant decrease in trading volume, indicating that bulls are still in the buying zone

On April 11th, the financial industry reported that Bitcoin has climbed to over $30000 for the first time since June 2022, with an annual cumulative increase of over 80%. This rebound is even stronger than the nearly 20% increase in the Nasdaq 100 index (where Bitcoin often rises in sync with the index)

The cryptocurrency market is currently in a bad state as there are more and more problems and there seems to be no signs of easing.The price of Bitcoin has fallen by 75% since its previous historical high, but it may still fall further