Raoul Pal, former Goldman Sachs executive, has reiterated his bullish prediction for Ethereum (ETH), the second-largest cryptocurrency by market capitalization.
According to Raoul Pal in an interview on 30th November with the host of the InvestAnswers YouTube channel, Ethereum (ETH) has the potential to hit $20,000 by March at the latest.
Raoul Pal noted:
“I’m using base case probabilities. No certainties. I still think ETH finishes this year closer to $15,000 than to $10,000… Just by the nature of what is actually going on right now and the chart patterns and, you know, the people who are coming into the space.
“I actually still see ETH… the small probability upside is that it hits $40,000 by the summer. That’s because [of] the staking cycle and how the charts look. And using the log chart, extending it forwards, and a number of things give me that. It’s not my base case; my base case would be $20,000 ETH by March at the latest.”
Speaking about the potential of Ethereum competitors in the crypto space and why he’s heavily invested in ETH, he said:
“I don’t care. Of course, they were ETH’s dominance like Bitcoin’s dominance will fall over time because new technology comes into the space and they solve different problems and they have different orders of centralisation … and that’s absolutely fine. So the Bitcoin dominance is going to diminish over time. ETH dominance will diminish over time.
“SOL’s dominance versus others will diminish over time because this space is changing in structure. So I don’t have an issue with that. I’m not an ETH person. I’m just like this is the best horse to back, best risk adjusted return. I’m a crypto maximalist…
“I think that Solana will outperform ETH in the cycle and I think that Terra will outperform ETH. So, why don’t I have all my money in those? Because I have less certainty, because the network effects are less pronounced. So, therefore, I have to have a smaller bet, but I don’t think ETH stops going up. The whole space is going up 100Xover the next 10 years. So you can back a lot of different horses and still make money.”