During a recent interview, former Goldman Sachs executive\u00a0Raoul Pal\u00a0talked about Ethereum and said that $ETH above $20,000 \u201cfeels about right.\u201d<\/p>\n
Prior to founding macro economic and investment strategy research service\u00a0Global Macro Investor (GMI)\u00a0in 2005, Pal\u00a0co-managed the GLG Global Macro Fund in London for global asset management firm GLG Partners (which is now called \u201cMan GLG\u201d). Before that, Pal worked at Goldman Sachs, where he co-managed the European hedge fund sales business in Equities and Equity Derivatives. Currently, he is the CEO of\u00a0finance and business video channel\u00a0Real Vision, which he co-founded in 2014.<\/p>\n
During an interview on an episode of the Nankless podcast that got released on Monday (August 30), Pal said that $20K was his price prediction for Ethereum in the long-term and that he had arrived at his prediction for Ethereum by mapping the asset\u2019s chart over Bitcoin\u2019s chart in 2017.\u00a0<\/p>\n
According to Pal, Ethereum\u2019s trajectory matches perfectly with Bitcoin\u2019s bull run four years ago. As reported by The Daily Hodl, he said:<\/p>\n
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\u2019s no great science to that, but it feels about right.<\/p>\n
Pal has in the past several months repeatedly called Ethereum the \u201cgreatest trade\u201d available in the crypto space, noting the impact of staking on reducing the coin\u2019s supply. He claimed that only 13% of Ethereum\u2019s total supply was available in circulation, with the rest being \u201cstaked, locked and hoarded.\u201d<\/p>\n
Pal said his price prediction for Ethereum to arise above $20K could occur as early as March 2022. He also predicted Bitcoin\u2019s price would rise to between $250,000 and $400,000 based upon matching its trajectory with BTC\u2019s chart in 2013:<\/p>\n
\u201cDon\u2019t forget, they usually go up 5 to 10x in the last three months of the year. We haven\u2019t even got to the all-time high, but let\u2019s say Bitcoin goes up 5x from the $60,000 high. That\u2019s $350,000. That would be a very normal rally for year-end.<\/em>\u201c<\/p>\n https:\/\/youtube.com\/watch?v=ELXyb9hooyg%3Ffeature%3Doembed<\/p>\n Back on April 21, Pal explained in more detail why he had become much more bullish on Ethereum than Bitcoin:<\/p>\n He then went on to say:<\/p>\n