2024-2-17 19:13 |
Renowned macro-investor and Real Vision founder Raoul Pal has predicted a massive rally for Ethereum (ETH) and Solana (SOL) in the ongoing bull cycle.
Speaking during a recent podcast with Anthony Scaramucci, founder of global alternative investment firm SkyBridge Capital, Pal discussed the factors driving the growth of cryptocurrencies and their potential to save economies from a monetary meltdown.
Pal explained that the current debt cycle and the debasement of currency by central banks are driving the adoption of cryptocurrencies. He believes that people are looking for alternative investments due to the fear of a potential global economic meltdown caused by excessive debt and the devaluation of fiat currencies. He also mentioned that the rapid growth of decentralized finance (DeFi) and non-fungible tokens (NFTs) is creating new use cases and driving up the adoption of cryptocurrencies.
When asked about his confidence in the growth of Ethereum and Solana, Pal stated that he believes ETH will reach a price of between $15,000 and $20,000 in this bull cycle. The pundit further underscored that SOL will reach a price of $750 and $1,000 in the same period.
He emphasized that he is very aggressively positioned in crypto as he believes that the issues of printing of money and excess debt will be the feature of the next two years and crypto will be the best-performing asset class.
“I’m actually 100% of my liquid net worth in [crypto] and I have been actually for since 2020. And I use the bear markets to add into because I think we are in a once in a lifetime wealth accumulation opportunity for everybody be rich or poor,” said Pal.
Notably, the pundit did not provide a specific timeline for when he expects the crypto market to reach its peak. However, many experts are closely monitoring the upcoming Bitcoin halving event. It is worth noting that the Bitcoin bull market has historically started around 12 to 18 months after a halving event. If this pattern were to repeat itself, the next bull market peak would likely be in the third or fourth quarter of 2025.
Pal also discussed the role of gold and silver in the current economic climate, stating that while they have always played a role as a global store of wealth, they do not work as well in a digital age. He emphasized he prefers crypto over the two assets, as it offers the same benefits and has the added advantage of a technology super-cycle behind it.
At press time, Ethereum was trading at $2,790 after a 7.73% surge in the past 24 hours. On the other hand, SOL was exchanging hands at $110, reflecting a 3.51% gain over the same period.
Similar to Notcoin - Blum - Airdrops In 2024
Rally (RALLY) на Currencies.ru
|
