Ethereum has seen remarkable growth recently. Digital assets recently reached a three month high after crossing $ 3400 in the early hours Tuesday. Recent weeks have seen a dramatic increase in the use of Ethereum. The fees are increasingWithin a week, 200%. As more people embrace the main smart contract platform the asset value predictions have increased accordingly.
Raoul Pal, a former Goldman hedge funds executive, is bullish about cryptocurrencies. Real Vision, an information and analysis platform for investors, was founded by the former hedge fund manager. Pal spoke on a podcast about his cryptocurrency investing strategies. He had interesting predictions for both Ethereum and Bitcoin.
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Ethereum at $ 20,000, Bitcoin @ $ 250,000
Raoul Pal, CEO of Real Vision, made very optimistic predictions about the future of the two major digital currencies in his interview. Pal stated that Ethereum will reach $20,000 by March 2022 and Bitcoin will reach $ 250,000 to $ 400,000 within the same timeframe. Pal said that Ethereum’s popularity has been influenced by the increasing popularity of non-fungible tokens (NFT), and decentralized finance. It is important to disclose that NFT and DeFi have been accepted twice as widely as Bitcoin.
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Pal stated that Ethereum adoption has outpaced the rest of crypto space. The bullish setup for price explosion is further bolstered by the EIP-1559 and London Hard Fork.
Source:| Source: TradingView.com: ETHUSD
“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 is decreasing every day, and demand is becoming exponential. The only outcome is an exponential rise of prices. There is no other way. Raoul Pal, cofounder & CEO of Real Vision
Instead of talking, act!
Raoul Pal isn’t one to make predictions for others without being interested in them. The CEO even revealed last year that he had converted his entire investment portfolio into cryptocurrencies. This is why Pal is bullish about cryptocurrencies. The CEO had completely abandoned his gold holdings which represented 25% of his investment portfolio at the time. The funds were then shifted to crypto. Even so, Pal’s portfolio had 75% crypto by the time he quit his gold positions.
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Now, Pal’s holdings are made up of cryptos of varying concentrations and related products. His holdings included 55% Bitcoin, which accounted for the majority of his investments. Ethereum (ETH), accounting for 25%, is the second-largest position. The remaining 20% consists of a basket of equally weighted tokens. These tokens can be decentralized finance (DeFi), layer 1 or 2 blockchains. Interoperability solutions.
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Pal also said that he had “some special bets in.” social tokens? meta, and other longer-term macro bets. Real Vision co-founder, called Ethereum “the biggest trade” macro-wise. He also expects cryptos will rise in the fourth quarter 2021. “Remember, they typically rise 5X to 10X in the last three months of the year, and we haven’t even reached the highest historical level, ”says Pal.
Featured image taken from Toshi Times, chart by TradingView.com