Bitcoin's Price May Drop After Ethereum's Merge

Kyle McDonald, an independent researcher, predicts that the price of bitcoin will fall if the network is "controlled away."

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He proposes trading bitcoin at this same moment. Investors and authorities may determine that the energy-intensive "proof-of-work" technique now employed by Bitcoin and Ethereum,

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is no longer required if the Ethereum blockchain switches to the "proof-of-stake" method of validating transactions, which uses a lot less energy.

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McDonald spoke on the "climate challenge" and Bitcoin's high energy use on Friday's episode of "First Mover" on CoinDesk TV.

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McDonald believes that the exorbitant energy requirements of the sector will cause governments and environmentalists to become increasingly concerned, and that bitcoin's value will never rise over $69,000.

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McDonald rated Ethereum's promise to save energy costs by 99.5% as "extremely credible."

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