There are some new predictions about the price of Bitcoin and Ethereum.
It’s been just reported that the crypto veteran Raoul Pal reveals how Bitcoin (BTC) and Ethereum (ETH) will stack up against other asset classes this year.
Bitcoin is a super massive black hole
On Twitter, he exposed his theory that Bitcoin is a “super massive black hole,” which posits that the crypto markets will continue to suck capital out of every other crypto.
Pal compared Bitcoin and Ethereum’s performance to all other major tradable assets in 2021 and he notes that there is a giant asymmetric advantage in favour of the two digital assets.
“SPX [S&P 500] +11.5%
NDX [NASDAQ] +7.84%
EEM [iShares Emerging Markets] +4.71%
TLT [iShares 20-year treasury bond] -11.28%
DXY [Us dollar index] +1.46%
EU ETS [EU emissions trading system]. +49.27% (pretty good)
Lumber +130% (World class)
Fed B/S +6%
BTC and ETH will continue to grow
He also accounted for the amount of the risk that a person has to take to take to invest in crypto and he said that the digital asset space outshines everything else.
“Also on a vol adjust, risk-adjusted returns basis, crypto wins.
Like it or not, this is the single most superior trade of the last 12 months and one of the great trades ever.
BTC is up +1,386% from the low in March 2020
ETH is up +2,985% from the low in March 2020.
Pal believes that Bitcoin and Ethereum will continue to be great this year.
Speaking about Ethereum, the crypto has been making a lot of headlines these days. It’s been just revealed that Ethereum mining revenue for April managed to hit a new ATH.
The Block Crypto notes that Ethereum miners brought in more than $1.5 billion in revenue during the month of April, according to data collected by The Block.
“Monthly data through April 30 shows that ETH miners have brought in $1.59 billion, though this data is likely to be slightly higher by the end of the day. The figure surpasses the previous high of $1.38 billion reported for March,” according to official notes.
We suggest that you check out the original notes in order to learn all the available details about this.