Ex-Goldman Exec And Real Vision Founder Puts Ethereum Value At $20,000 By March 2022
01 Septembre 2021 - 1:00AM
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Ethereum has been on an impressive growth path recently. The
digital asset recently broke a three-month high after it broke
through $3,400 in the early hours of Tuesday. Usage on the Ethereum
network has increased drastically in the recent weeks, causing fee
rates to surge 200% in the space of a week. As more users adopt the
leading smart contracts platform, predictions for the asset’s value
have risen accordingly. Raoul Pal is an ex-Goldman hedge fund exec
who is bullish on cryptocurrencies. The ex-hedge fund exec had then
gone on to co-found Real Vision, a platform that provides insights
and analysis for investors. Pal was on a podcast to talk about his
cryptocurrency investment strategies for the top 2 largest projects
in the market, Bitcoin and Ethereum, and he had some interesting
predictions for both cryptocurrencies. Related Reading | You
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Integration Ethereum To $20,000, Bitcoin To $250,000 Real Vision
CEO Raoul Pal gave some very optimistic predictions for the top 2
digital currencies during his interview. Pal said he believed that
Ethereum was going to be at $20,000 by the end of March 2022, while
putting Bitcoin price between $250,000 to $400,000 in the same time
frame. For Ethereum, Pal said that the growing popularity of
decentralized finance (DeFi) and non-fungible tokens (NFTs) factors
into his prediction. Disclosing that both DeFi and NFTs have
already been twice as widely accepted as Bitcoin. Related Reading
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“Worthless” Ethereum adoption has far dwarfed the rest of the
crypto space, Pal said. Adding that the recent London Hard Fork and
EIP-1559 work to reduce ETH supply, and with ETH 2.0 staking,
further propels the bullish setup for the price blowout. Raoul Pal
expects ETH to 6X by next year | Source: ETHUSD on TradingView.com
“There’s tons that have gone into just holding, tones that are
locked up in DeFi, tons that are locked up in NFTs, and you’re left
with, as of today, 11% of the entire supply of Ethereal available
and it’s going down every day, and the demand is going exponential.
The only outcome is an exponential rise in price. There’s no other
outcome.” – Raoul Pal, Co-Founder, and CEO, Real Vision Put Your
Money Where Your Mouth Is Raoul Pal is not one to give predictions
for others to follow without having a stake in it himself. In fact,
the CEO had revealed last year that he had moved his entire
investment portfolio to cryptocurrencies. That’s how bullish Pal is
on cryptocurrencies. The CEO had completely exited his gold
holdings, which, at the time, had made up 25% of his investment
portfolio, and the funds were moved to crypto. Even at that point,
Pal’s portfolio was made out of 75% crypto before he exited his
gold positions. Related Reading | Deloitte Survey Shows 76% Of
Finance Execs Think Physical Money Is Nearing Its End Now, Pal’s
holdings consist of cryptos at various degrees of concentration,
down 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, making
up 25%. The remaining 20% consists of an equally weighted basket of
tokens. These range from tokens of decentralized finance (DeFi)
protocols, Layer 1 blockchains, and interoperability solutions.
Related Reading | Here’s How Much Your $1,200 Stimulus Check
Would Be Worth In Various Cryptocurrencies In 2021 Pal also added
that he had “some specific bets in social tokens, metaverse, and
other longer-term macro bets.” The Real Vision co-founder referred
to Ethereum as “the greatest trade” from a macro perspective point
of view. And he expects the cryptos to go up in Q4 of 2021. “Don’t
forget that they usually go up 5X to 10X in the last three months
of the year, and we haven’t even got to the all-time high,” Pal
said. Featured image from Toshi Times, chart from TradingView.com
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