Raoul Pal's view on Ethereum (ETH): Breakout is coming, ETH/BTC ratio will surpass Bitcoin
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Raoul Pal, macroeconomic expert and CEO of Real Vision, made an optimistic prediction for Ethereum (ETH) in a recent YouTube strategy meeting. He believes that Ethereum is at a key technical breakthrough position, ready to usher in explosive growth, and its performance has the potential to surpass Bitcoin (BTC). Here are his main points:
1. Ethereum's bullish wedge pattern
Raoul Pal emphasized that Ethereum is currently forming a bullish wedge pattern on its weekly chart. This pattern usually indicates a major breakthrough in price, especially near the breakout point. Although Ethereum has not yet broken out of this pattern, it is very close.
He pointed out that this wedge pattern is one of the most powerful patterns in the cryptocurrency market, which usually indicates that the asset is about to experience a large fluctuation. Pal expects Ethereum's breakthrough may happen this month, and it may be tested when liquidity falls back in January, but whether it breaks out immediately or breaks out after a slight pullback, he believes that Ethereum's future trend is very bullish.
2. Bullish signal of ETH/BTC crossover
Pal also pointed out that the price pair of Ethereum/Bitcoin (ETH/BTC) also presents a bullish wedge on the exchange rate chart. He believes that over the past period of time, ETH's performance relative to BTC has remained relatively stable, which shows that Ethereum not only exists, but will continue to grow.
He further explained that as the ISM manufacturing index rises, ETH/BTC may outperform Bitcoin further. The ISM index is regarded as an important indicator of the health of the US economy and is generally closely related to disposable income, corporate free cash flow, and overall economic confidence. When the ISM index rises, the market's confidence and risk appetite also increase, which in turn drives Ethereum's relative performance to surpass Bitcoin.
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