Pal says that the future release of ETH 2.0 and ETH ETF will lengthen the crypto market period.
According to Ex fund manager for Goldman Sachs and founder of Real Vision, Raoul Pal, the social media critics are wrong because the crypto market series will prolong. However, things might be getting a bit furry on the way.
In an interview, Pal says that the prevailing crypto bull run is taking long, similar to what it did in 2015 and 2017. Pal says that the bullish trend will continue until somewhere between March and June 2022.
Crypto Price Prediction by Raoul Pal
According to Raoul Pal, Bitcoin, Ethereum, and altcoin markets may crash twice in six months. The on-chain information source implies that the current series reflect the 2017 pattern. This means that the next BTC price top could be as high as $253,800.
“My guess is that we probably have a sell-off, and then it rips again because that is the path of most pain, and markets tend to take the path of most pain.”States Pal
“Institutions tend to make asset allocation decisions by quarters, and my guess is January to march quarter next year we’re going to see a huge inflow.”
Pal has been more bullish on its prediction on Ethereum since the beginning of 2021. In August, Pal also describes ETH Bull run as the biggest trade. Furthermore, Raoul Pal sees the forthcoming launch of Eth2 and potentially an Ethereum ETF during the first 2022, which can speed up ETH’s huge rally.
“Now everyone is staking their ETH, creating unbelievable supply and demand inequality in ETH. This shows that only about 11% of the total ETH supply is available and that everything else is put securely waiting for this staking.”he adds.
Bitcoin has been moving in market circles since its creation in 2009. Nearly every four years, around halving, takes place. At the same time, the mining block reward reduces by half, in turn reducing the BTC supply.
The previous halvings took place in 2012, 2016, and the last in May 2020. However, a growing fraction of analysts and banks think that these cycles will end with the adoption of the mainstream.
Crypto industry experts are anxiously awaiting the launching of an Ethereum futures ETF. Two bitcoin futures ETFs are already in the market and more will be streaming in soon. Now issuers are willing to bring other crypto-based investments into this enormous market, ETH ETF being one of them.
Just recently bitcoin futures prices shot up after the launch of the Valkyrie USD Bitcoin ETF. It’s now likely that one can invest in this volatile market with low-risk funding.
Different analysts show that the SEC is going to accept Ethereum ETF soon. However, they have to go through BTCs files first then they can very quickly turn their equipment to an Ethereum futures-based ETF.
With VanEck and ProShares filling for bitcoin futures ETFs in August 2021, The question of whether the SEC will approve a bitcoin-based ETF is fast approaching. However, the SEC is still deliberating on what steps to take. But it is clear that their focus is on other products at this moment in time.
If you are considering buying ETH ETFs just make sure you follow the correct guidelines to avoid losing your money to scammers.