Macro Guru Raoul Pal Predicts four altcoins will follow Bitcoin and Ethereum powerful adoption curves
Four altcoins are closely following the strong adoption curves carved out by top cryptos Bitcoin (BTC) and Ethereum (ETH), according to macro investor and former Goldman Sachs executive Raoul Pal (ETH).
Pal highlights four cryptocurrencies with rapid network adoption trajectories that mimic BTC and ETH in a new interview on Anthony Pompliano’s YouTube channel.
According to the CEO of Real Vision, the adoption rate of smart contract platform Solana (SOL) is nearly identical to that of Ethereum.
“In both price and pricing structure, Ethereum is perfectly following, and I mean exactly following, Bitcoin in 2017.” Bitcoin is emulating Bitcoin 2013, which is exciting in terms of pricing structure but not in terms of price.
In 2017, I’m sure Solana is watching Ethereum. If anyone was trading at the time, Ethereum was the rocket ship that caught everyone off guard and guesses what… it’s an exact chart fit.
The pricing is also the same. Solana is following Ethereum, and Ethereum is following Bitcoin… It’s as though the magic is all in the acceptance of this network.”
Pal goes on to mention three more smart contract systems that he believes will receive widespread network acceptance and so increase in value.
“Of course, Terra, possibly Avalanche, and probably Polkadot are in that fast-growth, fast-adoption era where you see exponential price spikes more than anything else. In this cycle, I believe they will all do well. And, like Ethereum, they’ll all plummet far sooner. Then we’ll see how it develops from there.”
According to CoinGecko, Terra (LUNA), Avalanche (AVAX), and Polkadot (DOT) are trading at $37.27, $54.40, and $33.69, respectively, at the time of writing.
Pal says he likes these platforms because of the large number of projects that developers are creating on them.
“It’s inexplicably consistent.” I never expected this to be the case since when you look at everyone online, it’s all about ‘My project, my project.’ Do these things seem comparable when you net balance it all out and just apply adoption effects? They’re almost the same. That’s incredible.”
Pal adds when asked about the importance of blockchain decentralization from an investing standpoint,
“It’s a dangerous curve,” says the narrator. As a result, Bitcoin is ranked at the bottom of the risk scale. Because it is the most decentralized, [Bitcoin] is the foundation asset. It’s not a difficult task.
However, [crypto assets] become less decentralized as you move further out, making them riskier assets. It doesn’t mean they don’t have a role to play; it just means they can’t be that kind of reserve asset. They do have a risk component that is more difficult to price, which Bitcoin does not.”
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