Ethereum

Merge

Ether (<a href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow">ETH</a>) could reach $27,000 at the top of the current bull cycle, predicts Ethereum community member and investor Ryan Berckmans.&nbsp;
“My personal prediction is $12,000 to $27,000 per Ethereum within 18 to 30 months," he said in a recent interview with Cointelegraph.
As one of the main catalysts for ETH's appreciation, Berckmans points at the lack of selling pressure from miners, which disappeared after Ethereum switched from a proof-of-work to a proof-of-stake consensus mechanism in September 2022 with the Merge upgrade.&nbsp;
The current bull cycle is the first for Ethereum since its transition to a proof-of-stake system.&nbsp;
As pointed out by Berckmans, miners have to regularly sell large amount of coins to cover operational costs, which puts downward pressure on prices of proof-of-work coins.&nbsp;
According to the expert's estimates, at the top of last cycle Etheruem was responsible for the majority of all proof-of-work related costs despite having a lower market cap than Bitcoin.
“We should expect aggregate proof-of-work sell pressure to be over 80% reduced compared to last cycle,” Berckmans pointed out.
To find out more on Berckmans' outlook for Ethereum in the current market cycle, check out the <a href="https://youtu.be/r0vxvt-NE1M" target="_blank" rel="noopener noreferrer nofollow">full video </a>on our YouTube channel!&nbsp;<iframe width="100%" height="315" src="https://www.youtube.com/embed/r0vxvt-NE1M" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>

ETH could reach $27K this bull cycle, expert predicts

Cointelegraph

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