He Predicted the December Path of Pain: Former Goldman Sachs Hedge Fund Manager Raoul Pal Predicts Ethereum Will Hit $20K Latest March

Rao Paul
Source: Elevenews

Former Goldman Sachs executive Raoul Pal predicts Ethereum hitting $20,000 by March next year. In an interview on November 30 on the InvestAnswers YouTube channel, Pal emphasized his bullish prediction of the second-largest crypto coin.

Pal shared that the ETH coin will finish 2021 closer to the $15,000 mark based on base case probabilities in the interview. Additionally, he noted a small likelihood of ETH reaching $40,000 by summer. He based this figure on “how the charts look and the staking cycle.”

He, however, noted that his base case would be $20,000 by March at the latest, basing the figure on the log chart. Moreover, Raoul Pal shared that he has heavily invested in ETH, which he described as the “best horse to back” since it has the best risk-adjusted return.

The investment strategist also predicted the Solana and Terra crypto coins outperforming Ethereum. However, he mentioned that he has not invested much money in these crypto coins because “the network effects are less pronounced making them less certain.”

Raoul Pal’s Previous Predictions

Raoul Pal had had previous predictions of crypto’s performance, especially Ethereum. Apart from the prediction mentioned above, he had made another ETH prediction in November. Various crypto analysts on social media had predicted the ending of the crypto market cycle this year.

Raoul Pal refuted these predictions. However, the founder of the Real Vision Group predicted that over the next six months, Ether, Bitcoin, and other altcoins could crash twice. He referred to this as the “path of pain” which markets tend to take. 

Additionally, he noted a massive Ether rally with the increased attraction of large institutions and broadened access to crypto markets. He backed up his prediction of the massive rally citing two catalysts.

He mentioned the potential launch of an ETH exchange-traded fund in 2022’s first half. Secondly, he said ETH 2.0 launch as another catalyst. He predicted Ether’s price surging from 100% to 300% by year-end through a tweet.

Earlier during the year, Raoul had predicted that ETH would trade for more than $20,000 by the end of 2021. Along with his prediction, Raoul echoed ETH supporters by sharing that ETH was a highly undervalued crypto coin in comparison to Bitcoin.

About Vision Capital

Vision Capital is an international investment group with headquarters in London and New York. Julian Mash founded the company in 1997. and its CEO is Raoul Pal The company currently manages assets worth $217 million. 

The international company’s portfolio includes companies acquired from private equity firms, banks, and corporates. In total, the company has acquired 49 companies and completed 16 transactions. 

More on Ethereum

According to CoinMarketCap, the world’s second-largest crypto coin has a market cap of $464 billion. The overall crypto market currently has a market cap of $2 trillion and a 24-hour trading volume of $119 billion.

At the time of writing, Ether is trading at $4,064.52, a 3.57% decrease within 24 hours.