The May market crash and its resulting bearish trend caused massive losses for investors. But the Ethereum merge adverse effect was an unforeseen force. The crypto market has recorded more pullbacks than rallies since September 15. Many analysts, especially Ethereum supporters, hyped the merge, making others believe it’ll reverse the market. Unfortunately, after the upgrade, Ether and other cryptos crashed. Even Bitcoin lost $1000 a few minutes after the event. Related Reading: Ethereum Proof Of Work (ETHW) Gains 30%, Is More Upside Coming? The market is still in the Red On September 19, many cryptocurrencies were all red in their 1hour price gain, 24 hours, and 7 days trend. The number one crypto started the day in red, causing more panic in the market. BTC lost 2.38%, pushing its weekly losses to 13.58%. The same day, there were also massive liquidations across exchanges amounting to $432 million. Fast-forward to September 20, many crypto assets have continued their bearish trend. Bitcoin managed to add 1.72% in 24 hours, reducing its weekly losses to 10.90%. But the price is still in red on the TradingView chart. Bitcoin had lost its grip above $19K earlier today. But after adding some percentage gains, the coin regained footing but fell again to $18,968. With a 0.15% loss in the last hour, as seen on CoinMarketCap, the coin price is still in the red and may plummet further before the market closes. Ethereum has added...
