Raoul Pal Predicts That 4 Altcoins Will Follow BTC & ETH Adoption Curves
Accroding to Raoul Pal, ex-Goldman Sachs exec and a macro guru, Bitcoin and Ethereum are leading four altcoins to similar ascending price action.
Pal appeared on Anthony Pompliano’s show on YouTube channel, where he called four crypto assets with rapid adoption are forming very similar patterns to Bitcoin (BTC) and Ethereum (ETH).
According to the market analyst smart contract platform Solana (SOL) has almost identical adoption to Ethereum.
“Ethereum is exactly following, and I mean exactly following Bitcoin in 2017 in both price and price structure. Bitcoin is following Bitcoin 2013, which is fascinating, in price structure but not price itself.
I bet you Solana is following Ethereum in 2017. If anybody was in the market at that time, Ethereum was the rocket ship that took everybody by surprise, and guess what… it’s exact chart fit.
And the prices are the same. Solana is exactly following Ethereum, Ethereum is exactly following Bitcoin… it’s like the magic is all in this network adoption.”
The three other smart contract platforms that Pal sees growing fast in terms of market adoption and increasing in price are Terra (LUNA), Avalanche( AVAX) and Polkadot (DOT).
“The other [three] that are in that fast-growth, fast-adoption phase where you see exponential price rises more than anything else are obviously Terra, probably Avalanche, and probably Polkadot. And I think they will all do well in this cycle. And like Ethereum, they’ll all go down a lot later. And then from that, we’ll see how it builds out.”
At the time of writing LUNA trades for $38.43, while AVAX and DOT are trading at $55.80 and $35.44 respectively, according to CoinMarketCap.
The reason why Pal is bullish on these four platforms, is that there are a lot developers building their projects on them.
“It’s bizarrely consistent. I never thought this would be the case, because you see all the people online, it’s like, ‘My project, my project.’ But when you net balance it all out and just apply adoption effects and [ask] do these things look similar? They’re almost identical. Which is amazing.”
The a question how Pal sees the importance of blockchain decentralization from an investment perspective, he responds:
“It’s risk curve. That’s why Bitcoin sits at the bottom of the risk pile. [Bitcoin is] the foundation asset because it is the most decentralized. It’s not rocket science.
But once you go further out, [crypto] become less decentralized, so they’re riskier assets. Doesn’t mean they don’t play a role. They can’t play the role necessarily of being that kind of reserve asset. They do have a risk element that’s harder to price, which Bitcoin doesn’t have.”
