Real Vision CEO Raoul Pal predicts a bright future for Ethereum following market correction

Pal estimates the price of ETH could reach $2,000-$3,000 and notes the potential for an unexpected V-shaped rebound.

Real Vision CEO Raoul Pal was optimistic about the outlook for Ethereum (ETH) after the correction in the cryptocurrency market over the past month.

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As he noted, Ethereum seems to be preparing the groundwork to record a significant upward trajectory:

“I’m really optimistic. I look at the chart. The graph looks great. It looks like we just had this nice kind of one-month correction. I’m looking at the ETH [chart], but you can use any of the charts. I don’t know what it is, but there’s one thing that will just trigger it. Then I went back and looked at all the other previous pick-ups from the lows and then against things like Amazon in 2003-04. I look at all these things and normally always the trajectory that follows is upward and faster than people expect. And then it corrects,” Raoul Pal said.

$2000-$3000

to Raoul Pal’s estimates, the price target he has set for Ethereum in the next period of time is between $2,000 and $3,000. However, he notes that the price of ETH could go even higher, as it “burns up” when used in transitions, making it more scarce.

“It could be between $2,000 and $3,000. It could be higher. I don’t know. Because there are a lot of mechanics in ETH because of the ‘burn’ mechanism. The more people come online, the less ETH remains available. I think it could be a problem for ETH, but it will give it a lot of upside volatility.”

In closing, Pal notes that Ehtereum may go on an unexpected V-shaped rebound:

“There is a risk of a V-shape. That is the risk. I think it’s undervalued.”

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