Monday, May 10, 2021

Former Goldman Sachs Hedge Fund Manager Says Ethereum (ETH) Would Lead the Next Breakout

Raoul Pal, former Goldman Sachs hedge fund manager, has said that Ethereum, the second-largest cryptocurrency by market capitalization could lead the next breakout for digital currencies. He also showcased an interest in investing in the digital token ETH.

Raoul Pal shared this opinion in a thread of tweets on 8th July 2020. In the tweets, Pal captioned several charts showing Bitcoin (BTC) and other top digital assets getting ready for a rally.

According to Pal, Bitcoin was close to breaking the small wedge it had formed since May 2020.

Raoul Pal tweeted, “The time for the crypto rally seems fast approaching… Bitcoin BTC is getting ready hopefully to break the small wedge…”

Howbeit, Pal pointed out that Ethereum will likely lead the big rally that is on the verge to breakout.

“But this time it might be led by ethereum which is also about to break out…” Pal stated

In the same thread tweets, the former Goldman Sachs manager claimed that he owns no ETH, but the chart his starting to conceive him to purchase the digital token. He termed BTC his primary vehicle, believing that a favorable price action for top cryptocurrencies would enhance the growth of other crypto assets.

“I don’t yet own ETH but feeling the need to think about adding some. My primary vehicle remains bitcoin. A rising tide will lift all boats most likely. We’ve been waiting patiently for the breakout for some time. Who knows is if breaks out now but the clock is ticking…”

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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