Macro guru Raoul Pal says one Ethereum rival could become a crypto giant in the next cycle
Macro expert and former Goldman Sachs CEO Raoul Pal says one Ethereum (ETH) contender could outperform the rest in the next crypto bull run.
In a recent ask-me-anything session, Pal says some of Ethereum’s biggest rivals stand to benefit the most from increasing crypto adoption when markets eventually recover.
“ONEs adoption continues to build, lots of adoption spilling outside of ETH to Solana, Avalanche and a bunch of other protocols too. So I think we’re going to see ETH lead the charge and then we’ll see this part of things start to come as we start another bull market and generally things work that way.”
Pal predicts competing tier-1s will perform like Ethereum did between 2020 and late 2021, and he places his chips in Solana (SOL) as the closest to watch.
“I think a lot of these teams this time will be like ETH in the last cycle. They will end up being very large dominant chains. Which ones? I don’t really know. My bet is really on Solana, but it could be which one preferably of these… Solana, I have more allocated to that than I have to any of the others, but I am watching them and waiting to see.”
The Real Vision founder also says he has spotted Solana in his Ethereum pair (SOL/ETH), which according to the macro guru forms a potentially bullish setup.
He says that the DeMark indicator, which aims to detect the directional trend of an asset by comparing the recent maximum and minimum prices with the previous period’s price, is flashing bullish on multiple timeframes for SOL/ETH.
“I also technically have a perfect monthly, daily, weekly DeMark setup in the Solana/ETH cross. Now I’m not yet ready to bet that I’ll trade ETH for Solana, but I have some, but I’m observing to say, ‘Let’s see if it plays out,’ because that would be a narrative that people don’t really expect. I’m not saying Solana will be bigger than ETH, I’m just saying, ‘Can it outperform in this cycle?’ »
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