Raoul Pal Bullish On Ethereum (ETH) As It Hits New All-Time High
Raoul Pal, the CEO and founder of Global Macro Investor and Real Vision is bullish on Ethereum and the future of this virtual currency. He wrote on Twitter that he is “more than irresponsibly long ETH” and that his views could be reflected in the market in six to nine months.
Ethereum’s Bright Future
On Twitter, Raoul Pal shared his views about the future of the cryptocurrency market, but more specifically, about Ethereum and the Metaverse. There are some cryptocurrencies and projects that for Raoul Pal are currently undervalued. He mentioned that Rally, Chiliz, Dapper Labs, The Sandbox Game and Decentraland are all projects that have a large impact on the metaverse.
Moreover, he has also commenced on Ethereum, as he said that he is irresponsibly long on this virtual currency right now. On that matter, he said:
“Just so we are clear – I am more than irresponsibly long ETH right now. I now have leverage but via calls. This is by far and away the biggest personal position of my entire life by a factor of 10 (or more). My view horizon for this part of the trade is 6 to 9 months.”
This shows that one of the most prominent figures in the crypto space is long Ethereum but also Bitcoin (BTC). In the following Tweet, he said that he also “obviously” owns Bitcoin and other digital currencies including DeFi tokens, interoperability coins and layer 1 tokens, among others.
Let’s not forget that Ethereum has made an all-time high after recently surpassing $4,400. Although the new all-time high surpassed the previous one by $5, this time it seems that it is not going to retrace soon. Ethereum seems ready to move forward with its network upgrade and companies and developers continue to deploy new solutions on top of this network.
According to data provided by Coingecko, Ethereum is now very close to an all-time high being traded around $4,385 per coin. It also has a market valuation of $518 billion. In the last hour, most virtual currencies in the market experienced moderated gains.
Ethereum has also been a net gainer in the last 7 days as it surged by 10%, similar to Binance Coin (BNB). Meanwhile, the best performing cryptocurrencies in the last few days include Shiba Inu (SHIB) and Dogecoin (DOGE), which are now fighting for the 8th and 9th position in the market.
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