Former Goldman Sachs manager Raoul Pal says that Ethereum (ETH) has likely already bottomed, and a crypto bull run is now just around the corner. They need to remember the historical performance and growth of the Bitcoin (BTC) network. He says dark times like these usually precede big price hikes. Low to low) is 125% per year, which is staggering growth.
Every ‘Scam! Ponzi!’ leads to substantial price increases (unlike any other asset) when liquidity returns and the network continues to grow.
Pal says there is a strong correlation between the M2 money supply and risky assets like cryptocurrencies. According to the macroeconomics expert, there will be another expansion in the global money supply and a wave of liquidity. “Liquidity will soon reverse… You don’t need a super liquidity cycle like 2020, just a positive cycle to get cryptocurrencies off the ground as the network grows. Pal has his sights set on Ethereum and says the bottom in June will almost be reached,” and for which ETH is again preparing, has surpassed.
Bitcoin is in another bull cycle. “In the last cycle, ETH became dominant as its network effects grew faster and its returns were even greater than BTC’s…about twice that.”
Here we are again…somewhere near the bottom of the cycle (ETH likely bottomed in June), and despair lows are ever present as everyone loses their minds, just like in the phase lower than any previous cycle. Still, the network will continue to grow over time.