Co-founder and CEO of Real Vision Raoul Palis one of the well-known names in the crypto world. Pal shared his views on Ethereum (ETH) in a recent tweet. shared. Here are the striking details.
Raoul Pal, Ethereum He is known for his optimistic forecasts. A similar optimistic outlook continues in the tweet he shared recently. Pal claimed that the ETH/BTC ratio could be the “highest asset price chart” right now.
Is the ETH/BTC ratio the single most bullish major asset price chart in the world?
Might well be…#Etherum #Bitcoin pic.twitter.com/FXrdpg1gBj
— Raoul Pal (@RaoulGMI) October 30, 2022
At the time of writing, Ethereum was trading at 0.077 BTC. When we look at the general picture, it continues to rise for the third consecutive day as a result.
“Sell When The News Comes”
The ETH/BTC pair peaked at 0.085 BTC on September 8. However, later on, it dropped more than 12% after the “The Merge” update, with a “sell as news” logic.
Koinfinans.com As we reported earlier, Ethereum peaked at 0.088 BTC last December after the last bull run came to a halt.
ETH/BTC It is important to note that the pair is still 50% below the all-time high of 0.156 reached in June 2017.
Although Raoul Pal is one of the well-known names, it would be wrong to say that his predictions are always successful. For example, last September, he announced that the price of ETH would reach $20,000 by the end of the year. Back in November, the Ethereum price doubled its bullish call after hitting the top of the previous cycle.
Ethereum is currently down 67.36% from its record level and is trading at $1,591.
Bitcoin recently managed to reclaim the $20,000 level. It is currently trading at $20,575 on the Binance exchange.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.