Remarkably Accurate Ethereum Chart Suggests 300% Rally Incoming, Says Macro Guru Raoul Pal


Real Vision chief executive Raoul Pal says a “spooky” Ethereum (ETH) chart suggests that the second-biggest crypto asset by market cap could have a huge rally by year’s end.

Pal overlaid a current chart depicting ETH’s price movement over the past three months onto a chart showing the price movement of Bitcoin (BTC) in 2017.

The former Goldman Sachs executive argues to his 774,700 Twitter followers that the shape of the two different graphs looks remarkably similar.

“I have been showing this spooky chart of ETH now vs BTC in 2017 in various forms. This is my live CIX (Crypto Index) on Bloomberg…. even nailed this sell-off….to the day and price. What happened next? A 300% rally. From tomorrow (ish).”

Source: RaoulGMI/Twitter

Pal says he doesn’t expect ETH to match BTC’s 2017 price action perfectly, though he predicts a 100% to 300% rally for the crypto asset by year’s end.

“Nothing is a [certainty]. After that, it’s a tougher call, but I think it possibly elongates and sees significantly higher prices.”

Ethereum is trading $4,335.22 at time of writing and is up nearly 4% on the day.

Pal also notes that ETH is up 100x against Bitcoin over the past six years.

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

Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/NextMarsMedia

Credit: Source link

Leave A Reply

Your email address will not be published.