Former Goldman Sachs executive Raoul Pal said that for him the $ 20,000 ETH price "looks quite reasonable." During the Bankless podcast, the CEO of Real Vision said that he got such a prediction after comparing the current Ethereum price chart and the Bitcoin price chart for 2017.
According to him, the charts are extremely similar, so we should expect significant growth in ETH.
"All I did was compare the charts. They coincide perfectly and predict the price of ETH at $ 20,000. Not too complicated analysis, but, in my opinion, it looks quite real,"said Raoul Pal.
He also noted that currently only 13% of all ETH circulates in the market. The rest of the coins are either stored in long-term investors' wallets or blocked for staking. That is, the supply is limited, but the demand for ETH is constantly growing.
This will be facilitated by the popularity of decentralized finance (DeFi) projects and the growing boom of non-fungible tokens (NFT).
Back in April, Pal called ether investing the best investment in the cryptocurrency market. However, he is quite optimistic about the first cryptocurrency - according to Pal, the BTC rate may exceed $ 250,000.