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Peter Brandt: Atrium prices will fall below $ 1,300 by the end of June

 Veteran trader Peter Brandt predicts that the price of Atrium may fall to $ 1,268 by the end of this month. However, the 15,500-strong CoinMarketCup (CMC) community of users is very optimistic about the Merge update on the price of ether, and believe that the price of ETH will reach above $ 3,000 by June 30 (July 9).

The Atrium network is now in the final stages of China's bacon rapprochement with the main network and the transition from proof-of-work consensus to stock-proofing. Atrium developers announced yesterday that the Marj update was successfully completed on the Rapsten test network.




 While the timing of the update has been delayed several times, Atrium developers have promised that we will see the update in August if all goes according to plan. Migrating to the proof-of-algorithm will greatly reduce the energy consumption of the Atrium network, while improving its security.


Despite encouraging news from Atrium developers, ether prices have not performed well in the past 24 hours, falling 1.7% to $ 1,788.

Brandt has been trading in the financial markets since 1975 and has caught the attention of the cryptocurrency community in anticipation of some of Bitcoin's historic ups and downs.

If the downturn scenario he outlined for Atrium comes true, we will see a 29% drop in the price of these cryptocurrencies this month.

The veteran analyst shared Atrium's month-on-month chart from April to June on Twitter on Tuesday, noting that if market sentiment does not change significantly, the rest of June could be very difficult for Atrium. Be. He said in this regard:



Classic chart!

     This pattern in the Atrium chart can be a descending triangle that is not good for the price at all if the situation does not change and is completed. 

 Leading trader Crypto Tony envisions a similar downturn scenario for Atrium, tweeting a similar triangular pattern. However, his forecast is slightly higher than the target of this model and he believes that the price will decrease to the range of $ 1,450 to $ 1,600.

Different comments of Quinmarket users

Despite the downside of some analysts, the Quinmarketcup user community is optimistic about Atrium prices, at least in the short term. 15,466 users of this website predict that the price will reach $ 3,131.75 by the end of this month; Fulfilling this forecast requires 75.37% price growth.

There is a feature on the CoinMarket website that allows users to vote for the expected price targets on the price page of each cryptocurrency. In addition to forecasting 75% growth, some 8,500 people have predicted that the price of Atrium will rise to $ 2,981.27 by July 31, shortly before the final peak, by 66.94%.

Overall, the Quinmarket user community has had successful forecasts since December. For example, they predicted the final price of Atrium in 2021 with 88.40% accuracy. They had predicted that Atrium would end the year 2021 with a price of $ 4,109.65, but eventually the price of Atrium reached $ 3,682.

Subsequently, the Kevin Market Cap community saw a drop of 54%, 76.17%, 89.91% and 62.41 in January (January), February (February), March (April) and April (May), respectively. ٪ Predicted. Of course, Quinn Market Cup users' predictions have not always been correct, as they predicted May with an accuracy of 16.97%. Of course, this month saw the collapse of the Terra ecosystem and its aftermath, which took many by surprise and had a severe negative impact on prices.

According to a previous report by Homeland Blockchain, China's data describe a situation that Peter Brandt thinks is closer. These data show that the number of small ETH holders has increased steadily over the last two weeks as news of the Merge update approaches, but the number of larger ether holders has been relatively constant or declining over the same period. As such, large holders do not seem to be as optimistic about the consequences of Merge updates as small holders.

    What do analysts predict about the price of Atrium by the end of the month?

Leading analyst Peter Brandt predicts that the price of Atrium will fall by 29% by the end of this month, to below $ 1,300. Crypto Tony is also forecasting a downward trend in the price of ETH by the end of June, but his target is more optimistic than Brandt, with the price range of $ 1,450 to $ 1,600.

Leading analysts, as well as large ETH holders, seem less optimistic about the positive effects of the Merge update on ether prices, which is expected to expire in August.