Former Goldman Sachs executive Raoul Pal says that the bottom for Ethereum (ETH) is likely already in and a crypto bull run is now around the corner.
Makro guru kaže those skeptical of the industry following the collapse of crypto exchange FTX are forgetting Bitcoin’s (BTC) historical performance and network growth.
He says it’s dark times like these that typically precede big price increases.
“But this tiresome ‘Scam! Ponzi’ nonsense hides the fact that the network growth in BTC (taken from using the low to low) is 125% per year, which is astonishing growth. Each ‘Scam! Ponzi!’ low leads to very large price increases (unlike any other asset) as liquidity comes back and the network keeps growing.”
Pal kaže there is a strong correlation between the M2 money supply and risk assets like crypto. According to the macro expert, an expansion of the global money supply and a wave of liquidity will appear once more.
“Liquidity will soon turn… you don’t need a super cycle of liquidity like 2020, just a positive cycle for crypto to perform as the network keeps growing.”
Setting his sights on Ethereum, Pal kaže the bottom mostly like hit in June, and that ETH is gearing up to once again outperform Bitcoin in another bull cycle.
“In the last cycle, ETH became dominant as its network effects grew faster and its returns were even larger than BTC… roughly twice the increase.
Here we are again… somewhere near the bottom of the cycle (ETH probably bottomed in June) and the lows of despair are pervasive as everyone loses their minds, just as they did at the bottom phase of each previous cycle but the network keeps growing over time.”
U vrijeme pisanja ovog teksta, Ethereum mijenja vlasnika na 1,240 dolara.
Ne propustite ritam - Subscribe da biste dobili kripto e-mail upozorenja koja se dostavljaju direktno u vašu ulaznu poštu
Check Price Action
Pratite nas na cvrkut, Facebook i telegram
surfovati Daily Hodl Mix
Izjava o odricanju odgovornosti: Mišljenja iznesena u Daily Hodlu nisu savjet o ulaganju. Ulagači trebaju obaviti svoju dužnu opremu prije nego što ulože bilo koja rizična ulaganja u bitcoin, kripto valutu ili digitalnu imovinu. Imajte na umu da su vaši transferi i trgovine na vlastiti rizik, a za sve gubitke koji mogu nastati odgovoran ste. Daily Hodl ne preporučuje kupovinu ili prodaju bilo koje kripto valute ili digitalne imovine, niti je Daily Hodl savjetnik za ulaganje. Imajte na umu da Daily Hodl sudjeluje u affiliate marketingu.
Istaknuta slika: Shutterstock/PeachShutterStock/Spyro the Dragon
Source: https://dailyhodl.com/2022/11/14/ethereum-eth-bottom-probably-already-in-next-bull-cycle-approaching-according-to-macro-guru-raoul-pal/