Founder of Real Vision, Raoul Pal, expects Ethereum to rise by over a hundred percent by year’s end. He believes there are similarities between the price movement of Ethereum now and Bitcoin in 2017. Following the correlation, a surge of even 300 percent is possible. In a tweet, he shares a picture of a price chart comparison of ETH now and BTC in 2017, showing even the recent sell to be predicted.
He believes that Ethereum holds a lot of potential upside. He, however, concedes that price movement is not perfect. As such, nothing is set in stone, and things may not go as predicted. He went on to say that after the expected push, it will be difficult to predict the next price movement but expects it to push to even higher price points.
Raoul Pal’s thought process is that Ethereum can replicate Bitcoins bullish run in 2017. He has described it in the past as “weird wizardry.” Ethereum, in the last couple of days, has experienced a drop of over 14 percent. This hasn’t stopped Pal from believing in its long-term potential for new returns. The Real Vision boss believes that the similar pattern in price movement between Ethereum and Bitcoin in 2017 correctly predicted even this recent dip.
Raoul Pal’s Comparison Of Ethereum To Bitcoin
Raoul Pal has always been an avid supporter of Ethereum. In the past, he has compared Ethereum to Bitcoin. He showed that within the same time frame, it had made considerably more gains in terms of the value ratio to the number one cryptocurrency. He showed that in 6 years, Ethereum had had a 100x value increase against Bitcoin
He believes that Ethereum will continue to do well against Bitcoin in the coming years. Currently, the Real Vision CEO has only 5 percent of his portfolio in Bitcoin compared to a whopping 70 percent in Ethereum. Raoul states that Ethereum and Bitcoin being different is not a negative. He says in a tweet that some coins may come along and outperform Ethereum too in the future, stating that he thinks almost all significant currencies might see a 100x valuation in the future.
Raoul Pal Believes ETH Bull Run Will Affect Other Altcoins
Around last month in an interview, Raoul spoke about the influence a bull run from Ethereum will have on other popular Altcoins. He believes they could see an even more significant price jump than Ethereum between now and the summer of 2022. He, however, thinks that these alternatives expose the investor to more risk, and Ethereum remains the safe bet.
He told followers on Twitter that his investment in the Ethereum token is the largest he has made in his life by a fair margin. He believes that other crypto-assets exist that are yet to get a proper valuation. The Real Vision CEO is said to have moved his entire portfolio into crypto in 2020. Ethereum is right now trading around the $4,286 price point on mainstream exchanges.