After Ethereum's Merge, Arthur Hayes Says This Is The Only Chart That Matters

, director of global macro at Fidelity Investments, noted that Ethereum hadn’t been rewarded with a high price-to-network ratio . However, this could change after the Merge, with Ethereum becoming scarcer.Some Twitter users rejected Hayes’s analysis, arguing that the price chart is the only chart that actually matters.

In spite of the successful implementation of the Merge upgrade, the price of Ethereum has plunged by nearly 9% over the past 24 hours. The much-awaited upgrade ended up being a “sell-the-news” event. Moreover, stocks renewed declines on Thursday, which pushed Bitcoin and other cryptocurrencies lower.

Source: Digital Coin News (digitalcoinnews.net)

No matter what they analyze we all should be aware that there will be no bullrun this year or even first and second quarter of next year. This will be the longest bear market ever seen.

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