Myth Buster: Ethereum Shanghai Hard Fork Won’t Create Major Selling Pressure
A lot of crypto enthusiasts have been speculating about the upcoming Ethereum Shanghai hard fork and what it will mean for ETH prices.
One of the biggest takeaways we’ve been seeing amongst the speculators is that the fork is going to create “major selling pressure” due to the uncertainty around it. However, this statement couldn’t be further from the truth.
Let’s Take a Closer Look
In reality, whenever a hard fork happens, it generally means that the underlying network is getting an upgrade. This is a good thing, as it typically helps to improve the network and keep it running smoothly. As a result, the price of the underlying asset (in this case ETH) will usually rise in anticipation of the upgrade.
So while there may be some minor selling pressure in the short term, it’s not going to be anything that’s going to cause major downward pressure on ETH prices. In fact, the opposite is more likely to happen.
What We Can Expect
We can expect ETH prices to continue to rise as the hard fork approaches, and then stabilize once it takes effect. There may also be some minor corrections along the way, as is to be expected with all crypto investments.
So in conclusion, the Ethereum Shanghai hard fork won’t be creating any significant selling pressure and may even be beneficial to ETH prices in the long run.
Here’s What You Can Do
Now that we’ve busted the myth about the Shanghai hard fork creating major selling pressure, here are some practical tips of what you can do to prepare:
- Do your research: Learn as much as you can about the hard fork and what it means for ETH prices.
- Stay informed: Make sure you’re up to date with all the latest news and updates related to the hard fork.
- Trade wisely: Consider the risks associated with trading ETH before, during and after the hard fork.
- Be prepared: Have a plan in place in case ETH prices don’t go in the direction you were expecting.
With these tips in mind, you’ll be better prepared to make smart decisions about your investments as the Ethereum Shanghai hard fork approaches.
