Raul Pal predicts Ethereum will rise to $20,000 due to the development of DeFi and NFT

Former Goldman Sachs top manager and macro investor Raul Pal in the Bankless podcast predicted the rise in the Ethereum rate to $ 20,000.

“All I did was compare the charts. They match perfectly and predict an Ethereum price of $ 20,000. Not too complicated an analysis, but looks quite plausible to me, « said Pal.

According to him, the forecast is based on a comparison of the current charts with the indicators of 2017.

Pal added that only 13% of all ETH is currently in circulation on the market. The rest of the coins are either stored in the wallets of long-term investors, or are blocked for staking , the macroinvestor noted.

He is confident that the growth of demand for Ethereum will be facilitated by the development of decentralized finance ( DeFi ) and non- fungible tokens ( NFT ).

This week, the price of the second largest cryptocurrency by capitalization broke the level of $ 4,000, and digital gold returned to levels above $ 50,000.

Recall that last year, Raul Pal said that in the next 5 years, a wave of institutional funds will push the price of bitcoin to $ 1,000,000, and at the end of April Pal noted the deepest bitcoin correction since Black Thursday and called it «an opportunity, not a threat. « .

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