Macro Guru Raoul Pal Predicts Ethereum Will Massively Outperform Bitcoin, Says ETH’s ‘Big Surprise’ Coming

Former Goldman Sachs executive Raoul Pal believes that Ethereum (ETH) is poised to outperform Bitcoin (BTC) over the coming weeks and months as investors move their capital within the crypto markets to generate more gains.

Pal tells the 21,300 subscribers of his YouTube channel that Ethereum will “massively outperform” Bitcoin just like how lower-rated junk bonds tend to surpass the higher-rated treasuries when investors rotate their capital.

According to Pal, the potential approval of a spot Bitcoin exchange-traded fund (ETF) will positively impact Ethereum as he expects market participants to reinvest their BTC gains in ETH.

“So ETH is just doing what it’s supposed to be doing. But it’s not giving us the big surprise. I think that surprise comes the moment the ETF is out in Bitcoin and people will focus on the ETH ETF. And it’ll bring the ETH ecosystem alive.

This year, it’s been a story of Solana which I’ve been long all year, and Bitcoin. That barbell has been the best trade in the world. Or, in fact, just saying SOL has been the best trade in the world bar none. But ETH, it will play catch-up, it will do well.”

Turning to Bitcoin, Pal says that the flagship crypto asset’s price action going forward is likely to mirror its 2015 bull market price action when Bitcoin witnessed a massive burst to the upside without a major correction.

“I think this cycle we’re in now looks more like that 2015, 2016, 2017 than it did 2019-2021. [In] 2019, [Bitcoin] came out of the gates really, really fast then corrected, then we had Covid-19, which we’re not going to repeat.

I know many people are expecting ‘Oh, we’re going to get a 50% collapse and you buy that one.’ It’s not going to happen.

Of course, you’ll get corrections. I think they’re most likely more sideways, give or take a 20% to 30% range, because that’s the world we live in in crypto.

But we should keep going into the end of 2025 if we’re just repeating the same old cycle, which I think we are.”

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Featured Image: Shutterstock/Bruce Rolff