The Shanghai Ether update is coming up, how will investors act?

Ether, the most popular altcoin on the cryptocurrency market, received an update in Shanghai, scheduled for April. After this update, Ether holders will finally be able to withdraw their assets. So, will investors be inclined to sell?
The Shanghai update of Etherin is imminent. That means investors are ready to make their move.
In this particular update, all eyes are on one thing: the removal of the pledged Ether. After launching the pledge in December 2020, the network began its journey with the Proof-of-Stake consensus algorithm. As a result, pledged tokens cannot be withdrawn.
That situation is expected to change in April. But will it cause the altcoin price to fall or rise?
Some believe that investors will quickly withdraw their ETH tokens to take profits.
If you locked in your shares on December 1, 2020, the price of Ether at that time was $612. By selling it at the current price, you would make a whopping 156% profit.
That's certainly a decent return. But it's not enough for most users.

The vast majority of users will suffer serious losses if they upgrade today.
It's impossible to predict what people would do when faced with potential double-digit losses. Nevertheless, about $6.25 billion has been invested, and some people are probably already selling. This is a negative bear market argument for ethereum.

What is the good outlook for ethereum?

The bullish argument goes like this: after almost three years, the number of investors will double when the developers finally achieve the long-awaited merger. Once people realize that they can get their money back if they put it in that box, and that they can withdraw it at any time, the riskiness of betting will drop significantly.
Some DeFi projects also do this kind of betting by offering unique leverage mechanisms. Aave's latest update, for example, does just that.