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Ethereum has recently seen impressive growth. Digital assets recently hit a three-month high after crossing $ 3,400 in the early hours of Tuesday. Use of the Ethereum network has increased dramatically in recent weeks, causing fee rates increase 200% within a week. As more and more users embrace the main smart contract platform, predictions of asset value have increased accordingly.
Raoul Pal is a former Goldman hedge fund executive who is bullish on cryptocurrencies. The former hedge fund manager then co-founded Real Vision, a platform that provides information and analysis to investors. Pal was on a podcast to talk about his cryptocurrency investing strategies for the 2 biggest projects in the market, Bitcoin and Ethereum, and he had some interesting predictions for both cryptocurrencies.
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Ethereum at $ 20,000, Bitcoin at $ 250,000
Real Vision CEO Raoul Pal gave very optimistic predictions for the 2 major digital currencies during his interview. Pal said he believes Ethereum is going to be at $ 20,000 by the end of March 2022, while putting the price of Bitcoin between $ 250,000 and $ 400,000 in the same time frame. For Ethereum, Pal said the growing popularity of decentralized finance (DeFi) and non-fungible tokens (NFT) factor into his prediction. Disclose that DeFi and NFT have already been twice as widely accepted as Bitcoin.
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The adoption of Ethereum has far eclipsed the rest of the crypto space, Pal said. Adding that the recent London Hard Fork and EIP-1559 are working to reduce the supply of ETH, and with the ETH 2.0 staking, further propels the bullish setup for the price explosion.
Raoul Pal expects ETH to 6X by next year | Source: ETHUSD on TradingView.com
“There are tons that are just on hold, tons that are locked in DeFi, tons that are locked in NFTs, and you have, to this day, 11% of the total Ethereal supply available and it’s decreasing every day, and demand is getting exponential. The only result is an exponential rise in prices. There is no other way out. – Raoul Pal, co-founder and CEO of Real Vision
Act rather than talk
Raoul Pal is not the type to give predictions to others without having an interest in them himself. In fact, the CEO revealed last year that he had moved his entire investment portfolio to cryptocurrencies. This is how Pal is bullish on cryptocurrencies. The CEO had completely walked away from his gold holdings, which at the time represented 25% of his investment portfolio, and the funds shifted to crypto. Even then, Pal’s portfolio was 75% crypto before he left his gold positions.
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Now Pal’s holdings consist of cryptos in varying degrees of concentration, right through to crypto-related products. The CEO revealed that his holdings consisted of 55% Bitcoin, which made up the majority of his investments. Ethereum (ETH) is the second largest position, accounting for 25%. The remaining 20% consists of a basket of equally weighted tokens. These range from decentralized finance (DeFi) protocol tokens, to layer 1 blockchains and interoperability solutions.
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Pal also added that he had “some specific bets in social tokens, metaverse, and other longer term macro bets. The co-founder of Real Vision called Ethereum “the biggest trade” from a macro perspective. And he expects cryptos to rise in the fourth quarter of 2021. “Remember, they typically rise 5X to 10X in the last three months of the year, and we haven’t even reached the top of all time. ” Pal said.
Featured image from Toshi Times, chart from TradingView.com
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