Real Vision's Raoul Pal: ETH could surge 300% by year-end
According to Raoul Pal, founder of Real Vision, Ethereum (ETH) could surge by as much as 300% by the end of the year, Market Insider reports.
The opinion comes from Pal’s recent tweet (below). He also compared the growth of ETH to that of BTC back in 2017, which saw Bitcoin gain 150% towards year-end, beating its then-record of just below $20,000.
Raoul also shared a “spooky” chart where it’s clear that the current ETH price action is almost identical to that of BTC back then.
Constantly jacked up by the ever-increasing momentum from the NFT and Metaverse hype, Ethereum has been hitting ATH’s as of late and is currently changing hands at ~$4,100.
What made ETH a worthy opponent for BTC
The #1 Altcoin and Bitcoin’s nearest potential rival, ETH has been gaining traction in preparation for what could turn out to be its stellar year.
Early 2017 saw Bitcoin at around $1,000. Closer to end-year, it broke into a raging bull run, eventually putting on 200%. However, the bull trend didn’t last, and after brushing $20,000 in January, it rapidly sold off, losing nearly 70% in a month.
However, the tables have turned a lot since then, and over the course of 2021, Ether has grown by nearly 500%, whereas BTC only saw a 100% increase.
Such figures didn’t come out of thin air. ETH has been praised left and right for a number of advantages it has over its competitors: fast transactions, low feels, a versatile infrastructure capable of running just about any kind of crypto project, be it DeFi or NFT, with unparalleled ease and convenience.
All that, combined with the environmental friendliness and the overall forward-looking air surrounding the coin and the blockchain, has made it insanely popular among investors and activists of the sphere. Some even hint at a possibility of “flippening”, i.e. the overthrowing of Bitcoin by Ethereum in the not-so-distant.
Raoul Pal himself is no stranger to the crypto world having 700,000 subs and being actively engaged in all things crypto for years. Recently, he has been known as a strong supporter of Ethereum and other major altcoins.
“Now, I don’t expect perfection but with all the other analysis I have done, something like a 100% to 300% rally is highly probable into year-end. Nothing is a cert (certain),” Pal added to his tweet. “After that, it’s a tougher call but I think it possibly elongates and sees significantly higher prices.”
Should Raoul’s predictions turn out to be at least part-true, we’d be looking at a massive reshuffling of cards on the worldwide trading table. Till then, keep your eyes on the prize and your finger on the pulse with CoinTribune’s latest news.
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I believe in the bright future of crypto. I have been investing since 2017 and look to share my experience in, and thoughts on, crypto and the blockchain.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.