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Real Vision CEO Raoul Pal says that Ethereum is set to rally and that two altcoins popular among investors may be ready to compete with ETH.
In a new interview with Altcoin Daily, the macro guru says that a number of influential people whom he considers to be important investors are bullish on decentralized finance (DeFi) payment network Terra (LUNA) and interoperable blockchain Polkadot (DOT).
“You notice that there’s a huge amount of investors who are very bullish on Terra still including Remi (Tetot) who works for me, who was a co-founder of Real Vision and works for Global Macro Investor. He’s a big investor in that space, loves it and a lot of people are.
A lot of people that I think are very important investors in the space are very bullish on Polkadot still, and they have been for a long time. It’s never really done what everybody expected it to do, but again you’ve got to keep your mind open to these things or it could be something else. Something else comes out of the blue, finds a different use case and before you know it, so it’s really hard to trade this kind of stuff.”
Pal also shares his 2022 forecast for Ethereum. He says the leading smart contract platform is still the greatest trade in the world.
“I still think we actually got a strong run to come. I think this kind of year-long sideways correction that we’ve essentially had is just a springboard to further gains as more adoption rolls out, more use cases roll out, etcetera…
I still think, risk-adjusted, ETH will do extremely well over time. The reason why it’s expensive to use is because it’s so damn popular. It’s like a chain of prestige now for things to be built on because it is the more decentralized of all of the other layer-1s. So it makes sense to me, I think, with the change towards ETH 2.0 coming as well. I think that narrative will build over time as well, so I still think the upside in ETH is massive. In terms of market cap, where could it go, it could still go another 10x from here in terms of market cap alone. Over what period of time, who knows.”