Raoul Pal Has Massive March 2022 Targets For Bitcoin & Ethereum
Ex-Goldman Sachs Exec, Co-Founder and CEO of Real Vision, and macro guru, Raoul Pal recently spoke about his cryptocurrency investment strategies for the top 2 largest projects in the market, Bitcoin and Ethereum. He also shared some interesting predictions for both cryptocurrencies.
Ethereum broke a three-month high after pushing through $3,400 in the early hours of Tuesday. Usage on the Ethereum network has increased significantly in the past weeks, which has sent fee rates up 200% in a week. As more users adopt the leading smart contracts platform, predictions for the asset’s value have risen accordingly.
ETH To $20,000, BTC To $250,000
Pal is super bullish on the top 2 digital currencies. He believes that Ethereum is going to be at $20,000 by the end of March 2022, and predicts Bitcoin price between $250,000 to $400,000 in the same time frame.
Regarding Ethereum, the macro guru said that the growing popularity of decentralized finance (DeFi) and non-fungible tokens (NFTs) factors into his prediction. Disclosing that both DeFi and NFTs have already been twice as widely accepted as Bitcoin.
According to Pal, Ethereum adoption has far dwarfed the rest of the crypto space. The recent London Hard Fork and EIP-1559 work to reduce ETH supply, and with ETH 2.0 staking, further propels the bullish setup for the price blowout, he says.
Source: ETH/USD on Coinmarketcap / TradingView
Pal explains:
“There’s tons that have gone into just holding, tones that are locked up in DeFi, tons that are locked up in NFTs, and you’re left with, as of today, 11% of the entire supply of Ethereal available and it’s going down every day, and the demand is going exponential. The only outcome is an exponential rise in price. There’s no other outcome.”
Raoul Pal is not just talking out of his head, he has heavily invested in both ETH and BTC. The Real Vision CEO revealed last year that he had moved his entire investment portfolio to cryptocurrencies. That’s a bullish move!
Pal completely exited his gold holdings, which had made up 25% of his investment portfolio back then. All the funds were moved to crypto. Even at that point, Pal’s portfolio was made out of 75% crypto before he exited his gold positions.
Pal’s holdings consist of cryptos at various degrees of concentration, down to crypto-related products. The CEO revealed that his holdings consisted of 55% Bitcoin, which made up the majority of his investments. Ethereum (ETH) is the second-largest position, making up 25%. The remaining 20% consists of an equally weighted basket of tokens varying from decentralized finance (DeFi) protocols, Layer 1 blockchains, and interoperability solutions.
