Raoul Pal, famous economist and former manager of Goldman Sachs, came to the fore with altcoin comments. Pal drew attention to Ethereum (ETH) and Dogecoin (DOGE). Here are the details…
Raoul Pal speaks for the leading altcoin
Raoul Pal, a former Goldman Sachs executive, made some bold predictions about the future of Ethereum (ETH) and Dogecoin (DOGE) in a recent interview with Altcoin Daily. Pal believes Ethereum could reach $10,000 by 2024, citing its growth and innovation potential. Pal said, “I don’t see any reason why it shouldn’t be $10,000. Well, I see no reason why it shouldn’t be $10,000? Because, you know, there is a good rise from here,” he says.
Pal’s prediction is not unfounded, as Ethereum has already shown tremendous growth in the long run, with its price rising from around $200 in 2020 to over $2,000 in 2021. It’s currently changing hands for around $1,900. Ethereum is the second largest cryptocurrency by market capitalization after Bitcoin, and its unique smart contract capabilities have made it a popular choice for developers looking to build decentralized applications.
Dogecoin is also attracting attention
Pal also expressed his interest in Dogecoin, stating that it has tremendous potential and is currently undervalued. He believes that if Elon Musk incorporates Dogecoin into his company ecosystem, it could see a significant increase in value. “DOGE will have many uses if Elon Musk decides to incorporate it into his corporate ecosystem,” he said. Although Dogecoin originated as a meme coin, it has gained a considerable following in recent years, with celebrities such as Elon Musk and Mark Cuban showing their support for the cryptocurrency. Dogecoin has also been used for charity, and the Dogecoin community has raised funds for purposes such as clean water in developing countries.
In addition to his predictions about specific cryptocurrencies, Pal also discussed the possibility of a “crypto spring” on the horizon. He cited the crypto spring, when both Bitcoin and Ethereum recorded significant price gains, as proof that the market may be ready for another surge in the near future. “Spring can be pretty amazing. So if you look back at the crypto spring of 2019, as I said, both ETH and Bitcoin made an 85 percent return, then they retreated for quite some time, even as the Fed cut rates.”
There are also those who are skeptical of Pal’s predictions, as the cryptocurrency market is extremely volatile and subject to sudden value fluctuations. However, his expertise and experience in the financial industry lends some credibility to his estimates.
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