Real Vision chief executive and macro guru Raoul Pal is predicting big run-ups this cycle from top Ethereum (ETH) competitors.
The former Goldman Sachs executive says in a new interview with InvestAnswers that although 82% of his portfolio is in Ethereum, he thinks the smart contract platforms Solana (SOL) and Terra (LUNA) will outperform ETH this cycle.
“So why don’t I have all my money in those? Because I have less certainty because the network effects are less pronounced. So, therefore, I have to have a smaller bet.
But I don’t think ETH stops going up. The whole space is going up 100x over the next 10 years, so you can back a lot of different horses and still make money.”
Pal predicts the crypto markets will see a big price surge moving into the end of the year, and after he thinks traders will get rattled.
“We’ll probably start to see a sell-off in early January or late December because people are expecting something, and I think it will be wholeheartedly wrong because I see nothing but a wall of money coming in January/February/March.”
ETH is trading at $4,745.02 at time of writing, up more than 6% on the day.
Pal predicts that ETH more than doubles in value in the coming weeks and finishes 2021 closer to $15,000 than $10,000. He also says the second-largest crypto asset by market cap could potentially skyrocket all the way to $40,000 by the summer, and he notes that his “base case” is ETH hitting $20,000 by March at the latest.
SOL is trading at $210.95 at time of writing, up more than 3% on the day. LUNA is currently trading at $57.62, up more than 12% in the past 24 hours.
Check Price Action
Don\’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix