tl;dr
Former Goldman Sachs executive Raoul Pal believes that Ethereum (ETH) is poised for significant growth, comparing its current chart to Bitcoin's trajectory from 2011 to 2019. He anticipates ETH to accelerate and is confident in its upward direction, despite uncertainties about reaching a target pric...
Former Goldman Sachs executive Raoul Pal predicts Ethereum (ETH) is set for significant growth, drawing parallels to Bitcoin's historical performance.
ETH is currently trading at $3,209, down 1% in the past day, but up over 12% in the past week and nearly 23% in the past month, remaining 34% below its all-time high.
Raoul Pal also discusses Bitcoin's (BTC) price movement in relation to global liquidity, noting its recent breakout to a new high and expectations for continued growth.
BTC is trading at $89,831, having reached a new all-time high of $93,477, up nearly 2.5% in the past 24 hours and more than 19.5% in the past week.
Former Goldman Sachs executive Raoul Pal believes that Ethereum (ETH) is poised for significant growth, comparing its current chart to Bitcoin's trajectory from 2011 to 2019. He anticipates ETH to accelerate and is confident in its upward direction, despite uncertainties about reaching a target price of $20,000/ETH. ETH is currently trading at $3,209, down over 1% in the past day but up by more than 12% in the past week and nearly 23% in the past month.
Meanwhile, Bitcoin's (BTC) price is influenced by global liquidity, and Pal expects it to break out to new highs as global liquidity tightens. BTC is trading at $89,831, having reached a new all-time high of $93,477, and is up by almost 2.5% in the past 24 hours and over 19.5% in the past week.
Former Goldman Sachs executive Raoul Pal thinks Ethereum (ETH) is primed for big gains. In a new YouTube video, Pal tells his 143,000 subscribers that ETH’s current chart is playing out similarly to Bitcoin’s between 2011 and 2019. “Ethereum now versus the previous periods is following the last in Bitcoin. Now whether it gets to the target here of $20,000/ETH, who the heck knows. Doesn’t really matter. But directionally, we’ll see what happens. ETH should accelerate from here, and I’m pretty confident that it will.” ETH is trading at $3,209 at time of writing.
The second-ranked crypto asset by market cap is down more than 1% in the past day but up more than 12% in the past week and nearly 23% in the past month. Despite the recent gains, Ethereum remains more than 34% down from its all-time high of $4,878, which it set back in November 2021.
Pal also notes that Bitcoin’s (BTC) price is driven by global liquidity. “Bitcoin goes through this consolidation pattern as liquidity tightens, breaks out, crypto breaks out with it. Now global liquidity’s contracting right now, but it did break out to a new high. It’s expected to break out going forward.” BTC is trading at $89,831 at time of writing.
The top-ranked crypto asset by market cap set a new all-time high of $93,477 at one point on Wednesday and is up nearly 2.5% in the past 24 hours and more than 19.5% in the past week.