TLDR:
Raoul Pal predicts Ethereum’s all-time high in 2024, driven by liquidity, Fed policies, and a bullish outlook on crypto and technology assets.
This article is a summary of a You Tube video “100% Confirmed! Ethereum Will Hit New All-Time Highs in 2024 – Raoul Pal” by Savvy Finance
Key Takeaways:
- Ethereum Price Prediction: Raoul Pal predicts Ethereum will reach new all-time highs in 2024, targeting around $5,300 per token.
- Economic Context: He attributes this to a liquidity-driven business cycle, with falling inflation, slightly higher unemployment, and lower interest rates.
- Macro Perspective: Pal emphasizes the importance of understanding the correlation between central bank activities and asset prices.
- Contrarian Views: He has maintained a contrarian outlook, especially during times of economic uncertainty, focusing on the bigger picture.
- Impact of Federal Reserve’s Actions: Pal links the appreciation of assets directly to the Fed’s balance sheet and its monetary policies.
- Crypto and Tech Outperformance: He identifies crypto and technology as assets that don’t just match but significantly outperform the growth in the Fed’s balance sheet.
- Bull Market Anticipation: Pal is optimistic about a 2024-2025 bull market in cryptocurrencies, particularly Ethereum.
- Business Cycle Analysis: He uses business cycle indicators to forecast economic conditions, suggesting an upcoming strengthening of the economy.
- Global Economic Reset Theory: Pal suggests that a reset occurred in 2008, leading to continuous liquidity provision by central banks to sustain the economy.
- Long-Term Bullishness on Assets: He remains generally bullish on asset prices due to continuous liquidity injection, which supports asset price growth.
