Expert Predicts ETH Could Reach $27K This Bull Cycle

Ethereum (ETH) Predicted to Reach $27,000 in Current Bull Cycle by Crypto Community Member

Ethereum (ETH) could potentially see a massive surge to $27,000 in the near future, according to Ryan Berckmans, an Ethereum community member and investor. In an interview with Cointelegraph, Berckmans shared his prediction of a $12,000 to $27,000 price range for ETH within the next 18 to 30 months.

Berckmans believes that the lack of selling pressure from miners, which disappeared after Ethereum’s switch from proof-of-work to proof-of-stake in September 2022 with the Merge upgrade, will be a major catalyst for ETH’s appreciation.

Ethereum’s First Bull Cycle Since Transition to Proof-of-Stake System

The current bull cycle is significant as it marks the first for Ethereum since its transition to a proof-of-stake system. This shift has been a major topic in the crypto market, with many closely monitoring the effects it will have on ETH’s performance.

Berckmans’ prediction of a $27,000 price for ETH is just one of many circulating in the crypto community. As the market continues to evolve and new developments emerge, it will be interesting to see how these predictions play out.

Ethereum’s Impact on Proof-of-Work Coins in the Crypto Market

Analyzed by Berckmans, it is evident that miners consistently sell large quantities of coins to cover operational expenses, causing downward pressure on proof-of-work coin prices.

Despite having a lower market cap than Bitcoin, Etheruem was responsible for the majority of proof-of-work costs during the previous market cycle, according to the expert’s estimates.

However, Berckmans predicts a significant decrease in aggregate proof-of-work sell pressure this cycle, with a reduction of over 80% compared to the last cycle.

To learn more about Berckmans’ insights on Ethereum’s role in the current market, watch the complete video on our YouTube channel!