Macroguru Raoul Pal has predicted that ethereum (ETH) could hit a five-figure price in the next bullish cycle and outperform bitcoin (BTC) by up to five times.
ETH will beat BTC in the next bull run
Former Goldman Sachs executive raoul pal He predicted that there is a chance that ethereum will hit a five-figure price and outperform its biggest competitor, bitcoin, by up to five times in the next cryptocurrency bull market.
Pal made the prediction in a new video on financial minimalist Jamie Currie’s YouTube channel, “Jamie Tree.” He claimed that ETH will likely offer the best risk-adjusted returns going forward, but that many other rival altcoin projects, such as solana (SOL), could still achieve more significant gains.
(embed)https://www.youtube.com/watch?v=0toQhqv8v04(/embed)
According to the financial analyst, the basis of his prediction lies in the most significant use cases available for the Ethereum network than for the Bitcoin blockchain, which means that ETH has the potential to be bigger than BTC in the next bull run.
“We should see ETH doing one, two, three, four, five times bitcoin in the next run because ethereum is a broader architectural protocol that we can build more things on top of… bitcoin just doesn’t do that; It has a different use case, so it’s unlikely to be that big.”
Raúl Pal.
In a previous interview with Altcoin Daily, Pal also claimed that the ETH price could hit $10,000.
ETH records slight price drop
At the time of writing, ETH was trading at $1768.90 per CoinMarketCap, a fall of 0.83% compared to the level of the previous day. The cryptocurrency had a 24-hour trading volume of over $10.35 billion and a live market capitalization of over $216 billion.
In the last seven days, ETH has gone from a low of $1,573 to a high of $1,842 while maintaining a bullish bias.
On the weekly time frame, ETH is currently breaking above a previous weekly resistance area at $1,700. It is also approaching the next resistance at $1,900.
As a result, many analysts anticipate a short-term rejection to the downside to test initial resistance at $1,700, which has since turned support.
During the last bear market, ETH lost more than 75% of its value. But as Raoul Pal predicted, there is every reason to think that it could bounce back and surpass its previous all-time highs.
For example, ethereum transaction volume has continuously increased since the beginning of 2023 and is currently at an all-time high.
Due to this increased activity and the activation of the burn mechanism after the London hard fork, the overall supply of ETH has decreased since the merger.
