• Raoul Pal, CEO of Real Vision and former Goldman Sachs executive, predicts that Ethereum (ETH) and the broader crypto market will reach new highs in 2023.
• He believes that tech stocks will outrun the rest of the equities markets, and that digital assets will manage to outrun tech stocks.
• Pal suggests that a new bull cycle has already started in October, and while corrections along the way are likely, he is expecting new yearly highs for the crypto market.
Raoul Pal Predicts Ethereum & Crypto Market Will Reach New Highs
Real Vision CEO Raoul Pal – formerly of Goldman Sachs – is predicting a break out for Ethereum (ETH) and new 2023 highs for the broader crypto market. Pal suggests that a new bull cycle has already started in October, and while corrections along the way are likely, he is expecting new yearly highs for the crypto market.
Tech Stocks Outrunning Equities Markets
Pal believes that tech stocks will outrun the rest of the equities markets, and that digital assets manage to outrun tech stocks. He notes that Tesla (TSLA), is up over 160% on the year, and VanEck’s Semiconductor exchange-traded fund SMH is up nearly 60%.
Ethereum Close To Confirming Prediction
Pal points to Ethereum as it threatens to break through a resistance level near $1 890 as potentially confirming his prediction. Ethereum is trading for $1 894 at time of writing, up more 8.8% during the last 24 hours.
“Welcome To The Exponential Age”
The macro expert says this all signals what he calls “the Exponential Age” which has ignited this start of a bull cycle for digital assets: “Yes, tech is VERY overbought. Yes, it will correct at some point. Yes, this is a bull market… Welcome to The Exponential Age.”
Disclaimer
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