Real Vision CEO Raoul Pal is predicting a break out for Ethereum (ETH) and new 2023 highs for the broader crypto market.
The former Goldman Sachs executive tells his 996,600 Twitter followers that what he calls the “Exponential Age” has ignited the start of a bull cycle for digital assets.
Pal predicts that tech stocks will outrun the rest of the equities markets, and that digital assets manage to outrun tech stocks. According to Pal, Ethereum is on the verge of confirming his prediction as it threatens to break through a resistance level near $1,890.
“My thesis is crypto will outperform tech and tech will outperform all other equities.
BTC is up 75% year to date…
ETH is up 53% and is ready to break out soon…”
Ethereum is trading for $1,894 at time of writing, up more 8.8% during the last 24 hours.
Pal notes that other aspects of the technology sector are flipping bullish, including Tesla (TSLA), which is up over 160% on the year, and VanEck’s Semiconductor exchange-traded fund SMH, which is up nearly 60% so far.
The macro expert believes that a new bull cycle officially kicked off in October, and while corrections along the way are likely, he says new yearly highs for the crypto market coming.
“This is all the confluence between The Everything Code and the Exponential Age and is my core focus for this cycle, which I think we started in October when liquidity bottomed…
Yes, tech is VERY overbought. Yes, it will correct at some point. Yes, this is a bull market. When tech corrects, crypto probably explodes to new highs on the year again too.
Welcome to the Exponential Age.”
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Source: https://dailyhodl.com/2023/06/21/ethereum-eth-and-crypto-about-to-explode-to-new-highs-in-fresh-bull-market-macro-guru-raoul-pal/