Macro guru Raoul Pal predicts that Ethereum (ETH) can skyrocket over 480% from its current price of $3,427 in the coming months.
In a new Bankless episode, the former Goldman Sachs executive unveils how he derived a $20,000 price prediction for the leading smart contract platform.
“My price prediction has been ETH north of $20,000, and that’s pretty simple. All I did is just map over the ETH chart to the Bitcoin 2017 chart. They work perfectly, and it gives you $20,000. There’s no great science to that, but it feels about right.”
Earlier this month, Pal called Ethereum the “greatest trade’ as changes in the fundamentals of the second-largest cryptocurrency work to significantly reduce the supply of ETH.
“Basically, there’s 13% of all the free float of Ethereum available. Everything else is being staked, locked and hoarded. They’ve just made the supply more difficult. The supply is lower.”
Pal says Ethereum can reach his price target before