Ethereum May Repeat Bull Market Price Pattern
Former Goldman Sachs executive Raoul Pal has made a bold prediction, stating that Ethereum (ETH) will surpass Bitcoin (BTC) in performance by 2024. Pal, who is also the CEO of Real Vision, shared his viewpoint with his one million followers on the social media platform X. He highlighted that the Ethereum-to-Bitcoin (ETH/BTC) ratio could potentially mimic the price pattern experienced during the 2021 bull market.
Pal emphasizes the significant price disparity between the two cryptocurrencies in February 2021. At that time, Bitcoin was trading at $44,000, while Ethereum stood at $1,400. Currently, Ethereum’s value has increased to $2,250, trading at 0.05288 BTC ($2,314).
A Bullish Outlook for Ethereum
Pal believes that Ethereum’s favorable macroeconomic conditions will support the ascent of risk assets, leading to a substantial surge in ETH’s value, akin to its performance two years ago. This optimistic projection highlights the potential growth opportunities Ethereum could experience in the coming years.
Competitor Solana May Outperform Ethereum
In addition to his Ethereum forecast, Pal also expresses his belief that Solana (SOL), a competitor to Ethereum, will outperform it by 2024. Currently, the SOL/ETH trading pair is at 0.0419 ETH ($97.01). Remarkably, Solana has witnessed a staggering 871% gain since the beginning of this year, with its price surging from $9.99 to its present value.
Disclaimer: Proceed with Caution
It’s important to note that any investment decisions, including transfers and trades, come with inherent risks, and individuals bear full responsibility for any losses incurred. It is crucial to thoroughly assess one’s financial situation and consider professional advice before engaging in any investment activities.