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

Market Anticipation for Bitcoin Surge

Experts predict a significant return of retail investors to Bitcoin as institutional buying increases. Many believe that once institutions finish loading up on Bitcoin and start pushing the price, retail investors will return to the market, especially if a sudden price surge occurs.

Tenzin Dorje34 minutes ago

Analysts Predict 69% Chance Bitcoin Hits $50,000 Before $100,000

Analysts predict a 69% chance that Bitcoin will reach $50,000 before hitting $100,000.

Bayarjavkhlan Ganbaatar3 hours ago

Coinbase Introduces High Yield DeFi Vault for Users

Coinbase has launched the Steakhouse Financial High Yield USDC Vault, enabling users to earn enhanced savings rates through a new DeFi product.

Mohamed Farouk4 hours ago

Anthropic Disputes Government's Evidence for AI Model Shutdown

Anthropic disputes the government's evidence for the shutdown of its AI models, claiming the reported vulnerabilities do not warrant such drastic measures.

Diego Alvarez7 hours ago

Market Reacts to Anthropic's AI Model Suspension

The recent directive from the US government to suspend access to Anthropic's AI models has triggered notable market reactions, especially in pre-IPO linked trading.