The optimistic predicitons about the price of Ethereum continue, despite the massive market volatility. Check out the latest reports about the price of ETH released by popular Raoul Pal below.
At the moment of writing this article, ETH is trading in the red, just like other important digital assets, and the coin is priced at $1,876.
ETH new price prediciton
Former Goldman Sachs executive Raoul Pal says Ethereum (ETH) is on track for rallies as the macroeconomic environment becomes more favorable to crypto.
In a new YouTube update, Pal tells Real Vision Finance subscribers that ETH will push past $2,000 as global growth weakens and inflation trends downward.
“Obviously, we had the inflation numbers coming out of the US which were better than expected. This is something I’ve been expecting – inflation rolling over. Now, it’s still at extremely high levels, but the thing is the trend, because commodity prices are falling, retailers have record inventories, and people have to start selling those inventories. So prices should start coming down.”
He continued and explained the following:
“That’s given relief to the bond market. It’s given relief to the crypto markets even further, it’s given relief to the equity markets. I think it’s the big signal.”
He addressed the second price trigger that ETH will be seeing. This is the falling of global growth, and that will be confirmed in the coming numbers, maybe next week or the week after.
“Stuff like the Fed survey, the Chicago, PMI, Philly, Fed, and, most importantly, the ISM. Those should start to confirm my fear, which is the economy is sharply slowing. However, I don’t think it’s necessarily negative to equities.”
Other than this, Pal said that ETH blasts through the big psychological resistance at $2,000 soon.
Stay tuned for more price predicitons about your favorite digital assets.