Very exciting news for Ethereum (ETH) fans! A cryptocurrency expert named Ryan Berkmans believes that the price of Ethereum could go much higher in the coming times, perhaps reaching $27,000. Berkmans, himself, is part of the Ethereum community and has a good knowledge of investing.
He shared his big prediction in an interview given to a website named Cointelegraph. According to Berkmans, the price of Ethereum could range between $12,000 to $27,000 in the next year or two.
Why is Berkmans so bullish on Ethereum?
So well, a key reason for this is that miners, who help run Ethereum, are not selling as much as before. As Berkmans points out, miners have to regularly sell large amounts of coins to cover operating costs, which puts downward pressure on the prices of proof-of-work coins.
And , sold a lot of Ethereum to cover their costs, driving the price down.
But now, times are changing, Ethereum has recently switched to a new system called Proof-of-Stake. This means that miners do not need to sell as much Ethereum to cover their expenses.
Instead, they are encouraged to hold on to their Ethereum. This change is making a big difference to the price of Ethereum.
This is the first time that Ethereum is going through a big price surge since the switch to proof-of-stake. Berkmans says that even though Ethereum was undervalued compared to Bitcoin during the last price surge, Ethereum faced much higher costs from mining,
Berkmans believes that due to the switch to proof-of-stake and fewer miners selling, Ethereum could see a nice bounce in price. He says that in this period of rising prices, we can see Ethereum reaching $27,000.
Simply put, Ethereum could be a good investment, due to changes in the way it operates and fewer miners selling their coins. There are good possibilities of increasing the price of Ethereum.
Note – This information is only for your knowledge, we do not advise investing anywhere. Do your own research before investing anywhere, thank you.
Hi there! I’m Simon Brown, a passionate writer delving into the exciting realm of cryptocurrency. From dissecting crypto news to making bold predictions, I cover it all. Join me on this thrilling journey through blockchain, NFTs, and beyond!