Raul Pal claims that Ethereum will overtake Bitcoin in 2024

by Max Nevskyi

2 years ago

Former Goldman Sachs executive director, Raoul Pal, predicts that in 2024 Ethereum (ETH) will surpass Bitcoin (BTC).

The current CEO of Real Vision believes that in the coming year, Ethereum in tandem with Bitcoin (ETH/BTC) could replicate the price pattern of the 2021 bull market.

For all the ETH bears, in February 2021, BTC first reached $44,000 (where it stands today), while ETH was at $1,400 (now $2,250). Nine months later, ETH grew by 245%, BTC by 45%. I believe that ETH's superiority over BTC will become a key macroeconomic trend in 2024, and our work at EXPAAM (Exponential Age Asset Management) takes this into account.

On the evening of December 23rd, ETH/BTC was trading at a price of 0.05288 BTC ($2,314)

On the evening of December 23rd, ETH/BTC was trading at a price of 0.05288 BTC ($2,314).

The analyst also speculates that there will be more favorable macroeconomic conditions for risky assets, including Ethereum in the near future, which could lead to rapid growth, as was the case two years ago.

This analyst is confident that in the coming year, Ethereum's competitor, Solana (SOL), will not be able to catch up with Ethereum.

On the evening of December 23rd, the SOL/ETH pair was trading at a price of 0.0419 ETH ($97.01). Since the beginning of the current year, the price of SOL has risen from $9.99, reflecting a growth of more than 871%.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

Oil Prices Affecting Bitcoin and XRP Market Potential

Market expert Sam Daodu warns that oil prices need to fall further for Bitcoin and XRP to rally sustainably.

Jesper Sørensenan hour ago

Oil Price Decline Could Revitalize Crypto Markets

Oil price decline may signal easing inflation, allowing for rate cuts and revitalizing crypto markets.

Rajesh Kumaran hour ago

Crypto Markets Reacting to Geopolitical Events

Crypto markets are particularly sensitive to geopolitical shocks due to their 24/7 trading nature, allowing for immediate reactions to news and resulting in sharper price movements.

Lucas Weissmannan hour ago

Dogecoin Network Achieves Major Performance Milestone

The Dogecoin network has achieved a significant milestone by tripling its processing speed, enhancing transaction throughput and the strength of its underlying infrastructure.

Filippo Romano4 hours ago

Bitmine Increases Ethereum Purchases Amid Market Optimism

Bitmine has significantly increased its Ethereum purchases, acquiring 65,341 ETH in the past week, reinforcing its position as the largest Ethereum treasury firm.