During the Bankless podcast, the CEO of the Real Vision channel revealed that he came up with such a prediction after comparing the current Ethereum price chart and the Bitcoin price chart for 2017.
According to him, the charts are extremely similar, so we should expect significant growth in ETH.
“All I did was compare the charts. They match perfectly and predict the price of ETH at $20,000. Not too complicated analysis, but, in my opinion, it looks quite real, "- said Raoul Pal.
He also noted that only 13% of all ETH is currently circulating on the market. The rest of the coins are either stored in long-term investors' wallets or blocked for staking. That is, the supply is limited, but the demand for ETH is constantly growing.
This will be facilitated by the popularity of decentralized finance (DeFi) projects and the growing boom of non-fungible tokens (NFT).
Back in April, Pal called ether investing the best investment in the cryptocurrency market. However, he is quite optimistic about the first cryptocurrency - according to Pal, the BTC rate may exceed $250,000.
Read also: Ethereum Will Exhaust Its Potential by 2023 – Charles Hoskinson
At the time of writing, Ethereum, which has long dominated the market for smart contracts, is up 5.97% in the last 24 hours to a price above $3,950—reaching a four-month high after NFTs posted record-breaking sales of $900 million in August.
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