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Analyst predicts: Ethereum will rise 200% by the end of the year



On December 4th, the entire crypto market suffered a flash crash that caused many cryptocurrencies to post huge losses. While most of them have recovered somewhat, Ethereum has managed to get back to the top particularly quickly and has even exceeded the growth of Bitcoin by far.

Ethereum more bullish than Bitcoin?

Ethereum is still below $ 5,000, however, the $ 10,000 ultimate year-end target seems very far-fetched, as some analysts have predicted. However, the former Goldman Sachs manager Raoul Pal remains optimistic. In a recent interview, he said:

“I use best case probabilities. No certainties. I still think ETH will close closer to $ 15,000 this year than $ 10,000 ... Just because of the nature of what's going on and the chart patterns and, you know, the people who come into the room. "

Pal set up a very bullish scenario for the long-term course of Ethereum and said:

“The small upside probability is that it will hit $ 40,000 by the summer. This is due to the staking cycle and the look of the charts. It's not my base case; my baseline would be $ 20,000 by March at the latest. "

Since many are still optimistic, there is already talk that Ethereum will overtake Bitcoin's market dominance. On the other hand, however, many also see the dominance of New Age blockchains at risk. These already offer functions similar to ETH 2.0. These include Solana, Terra, Avalanche and Cardano. They all evolved very quickly in the DeFi ecosystem.

Pal even sees it similarly.

“I think Solana will surpass ETH in the cycle and I think Terra will surpass ETH. ”

Pal has long been a staunch Ethereum supporter. According to reports, Pal has a significant part of his crypto portfolio in ETH. He explained why he thinks so much of Ethereum:

“I have less security because the network effects are less pronounced. So I have to make a smaller bet, but I don't think ETH will stop rising. "

It is noteworthy, however, that Pal's bullish predictions can be given some weight. For the first time since 2018, Ethereum has hit a new high against Bitcoin.


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