IMPORTANT POINTS:
- Raoul Pal predicts that Ethereum will surpass Bitcoin in 2024.
- Expectations of a bull market for Ethereum according to EXPAAM.
- Solana’s potential to surpass Ethereum in performance.
Former Goldman Sachs executive and current CEO of Real Vision, Raoul Pal, has made a bold prediction about the future performance of Ethereum (ETH) compared to Bitcoin (BTC). Through his social media platform with over a million followers, Pal suggests that the relationship between Ethereum and Bitcoin (ETH/BTC) could emulate the bull market pattern experienced in 2021 for the next year.
Pal’s Historical Reference and Expectations for Ethereum
Pal points to a key moment in recent cryptocurrency history: “In February 2021, when BTC first hit $44,000 and ETH was at $1,400, nine months later ETH was up 245% while BTC was up only 45%.” . Based on this background, Pal firmly believes that Ethereum will surpass Bitcoin in 2024, a trend that, according to him and his work at EXPAAM (Exponential Age Asset Management), is about to manifest.
Pal anticipates that favorable macroeconomic conditions for risk assets like Ethereum are ahead, which could boost ETH similarly to how it did two years ago. “The key is liquidity and the business cycle guiding the risk curve,” explains Pal, suggesting that the market narrative will follow this trend.
Pal’s Prediction of Solana’s Performance Relative to Ethereum
In addition to his Ethereum forecast, Pal also believes that Solana (SOL), an ETH competitor, will outperform Ethereum in 2024. When asked if ETH could outperform SOL in 2024, Pal responded with a resounding “No.”.
In terms of current market performance, SOL/ETH is trading at 0.0419 ETH (97.01). Since the beginning of the year, SOL has seen a significant rise, starting from 9.99 at the beginning of the year and achieving an impressive gain of over 871% from its current value.
This analysis from Pal highlights the changing dynamics in the cryptocurrency market and potential trends that could define the crypto landscape in 2024.
