The former Goldman Sachs executive, Raoul Pal, believes Ethereum, which is attempting to stabilise around the $2,000 level, will rise over $2,000 as a result of inflationary downward trends. He made this forecast in one of his most recent short videos on YouTube. However, the Real Vision Finance channel later removed his video as he discussed the macroeconomic environment and how it is shifting in favour of cryptocurrencies.
Raoul Pal predicts that Ethereum will surpass $2,000 mark
In the video, Raoul Pal claims that even while Ethereum is battling to get beyond the $2,000 mark, the challenge will likely become less pronounced now that inflation is trending downwards.
Even if inflation is at exceptionally high levels, he claimed, the trend is declining since commodity prices have dropped. He remarked:
“Obviously, we had the inflation numbers coming out of the US, which were better than expected. This is something I’ve been expecting – inflation rolling over.”
Additionally, he said that shops now have record levels of inventory and are beginning to sell it, which has allowed prices to fall. Pal agrees that this is the main indication since it has calmed down the bond market, the equity market, and the crypto market.
The next indication he’s watching for is a slowdown in global growth, which will likely be verified in the figures coming out maybe the next week or the week after. including, but not limited to, the ISM, the Chicago PMI, the Philly Fed, and the Fed survey.
Pal went on to say in his subsequent remarks that cryptocurrency could see minor corrections while ETH could rise above $2,000 in his subsequent remarks.
“Yes, they’re going to correct. Crypto will correct at some point. Crypto’s still there. ETH’s still trying to get through this $2,000 level. Even though there is resistance, he predicts that ETH would cross $2,000.
At the time of writing, Ethereum (ETH) is trading at $1,889.86 with a 24-hour trading volume of $17,741,634,324. ETH is down 0.47% in the last 24 hours.