• Raoul Pal, CEO of Real Vision and former Goldman Sachs executive, predicts that Ethereum (ETH) will hit new all-time highs before the year’s end.
• This prediction is based on a strong performance of the Nasdaq-100 Index (NDX) and a weakening US dollar.
• A weak USD could boost Bitcoin (BTC) and other cryptocurrencies as well.
Raoul Pal Predicts New All-Time Highs for Ethereum
Real Vision CEO Raoul Pal is predicting that the smart contract platform Ethereum (ETH) will hit new all-time highs before the year’s end. In a new blog post, the former Goldman Sachs executive says that a strong-performing Nasdaq-100 Index (NDX) is likely to hit new all-time highs within five months along with Ethereum.
Reasons Behind The Prediction
Pal believes this prediction is based on secular trends such as the emergence of artificial intelligence (AI), combined with a weakening US Dollar index (DXY). He states that when liquidity conditions are low, the NDX outperforms which supports his view that both ETH and NDX could reach their respective record levels by November this year.
Weakening Dollar To Boost Crypto
The macro guru also notes that if DXY breaks its support at 100 in the coming months, it could create an environment conducive to risk assets like Bitcoin (BTC) and other cryptocurrencies. He believes this break could push DXY to 90 over the next 12–18 months as business cycles start bottoming out.
Current Price Action
At time of writing, Ethereum is trading for $1,880 USD up 1% during last 24 hours while Bitcoin is currently worth $30,367 USD up 0.7% in same time frame.
Pal’s predictions suggest investors should pay close attention to global macro conditions such as currency values and tech trends in order to formulate an effective investment strategy in crypto markets.