Former Goldman Sachs executive Raoul Pal is predicting that Ethereum (ETH) will outperform Bitcoin (BTC) in 2024.
The Real Vision CEO tells his one million followers on the social media platform X that Ethereum against Bitcoin (ETH/BTC) may repeat a similar 2021 bull market price pattern next year.
“For all the ETH bears, in February 2021, BTC first hit $44,000 (where it is today) and ETH was at $1,400 (now $2,250). Nine months later ETH was up 245%, BTC was up 45%. I think ETH outperforming BTC will be a key macro trend of 2024 and our work at EXPAAM (Exponential Age Asset Management) suggests it.”
ETH/BTC is trading for 0.05288 BTC ($2,314) at time of writing.
The analyst believes that more favorable macroeconomic conditions for risk assets like Ethereum are on the horizon that will send ETH soaring similar to the way it did two years ago.
“It’s all about liquidity and the business cycle leading the risk curve. Narrative follows.”
The analyst also says he believes that ETH competitor Solana (SOL) will outperform Ethereum in 2024.
When asked by a social media user, “Do you think ETH will somehow outperform SOL in 2024?” Pal answered, “No.”
SOL/ETH is trading for 0.0419 ETH ($97.01) at time of writing. SOL has surged from $9.99 at the beginning of the year, a more than 871% gain from its current value.
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