In a recent interview conducted with Raoul Pal, a discussion regarding Ether and its current performance in the crypto market became the highlight as he also talked about two cheaper and faster competitors of Ether. Pal has a pretty interesting portfolio as before founding a global macro investor, which is an economic and investment strategy research service, he has worked for GLG global macro fund based in London, and before that, he was an active member of Goldman Sachs.
Currently, he is working as a CEO for a finance and business video channel, ‘Real Vision’, which was also cofounded by him in 2014. When asked about which cryptocurrency does he think is going to take the game home by the end of this year, he singlehandedly mentioned that it is going to be Ether, no talk about Bitcoin or how it might achieve a new all-time high altogether. He said that he is going to use base case probabilities rather than certainties that Ether is going to finish anywhere near $15K or at least $10K.
He says that this data is based primarily on various crypto indicators, performance charts, and patterns and basically what is going around in the crypto market at the moment. Another possibility that he did go with further is that Ether might hit $20K or $40K by the end of the summer next year, which is expectedly amazing. Because if it does so then, Ether won’t remain a secondary cryptocurrency because it would have acquired a practical performance boost making it a worthy competitor of Bitcoin. When asked about would Bitcoin be losing its dominant edge over the crypto market, Raul said that every cryptocurrency does from time to time.
He said that when new technology appears in terms of decentralization and blockchain systems and it is able to solve different problems, then it would become dominant for that particular time. No doubt Bitcoin is a dominant cryptocurrency at the moment but let’s say for the sake of argument that Ether becomes the next dominant cryptocurrency, then do you think that it will remain dominant indefinitely? No, because another crypto might possibly Bitcoin will take its position, this is how the turn of the wheel is in the crypto market.