As $ETH Price Falls, Raoul Pal Says 2-Year Risk/Reward Is Getting ‘Really Attractive’

On Saturday (August 20), as the ETH-USD trades around the $1,600 level, having fallen from around $1,900 at the start of the week, some $ETH HODLers are using this dip to buy more $ETH. One of those is investors is former Goldman Sachs executive Raoul Pal.

According to data by TradingView, on crypto exchange Bitstamp, currently (as of 12:41 p.m. UTC on August 20) ETH-USD is trading around $1,633, down 3.94% in the past 24-hour period.

On Friday (August 19), Pal took to Twitter to say that although he does not expect the Ethereum price to reach “new lows” (i.e. go below the June 18 low of $902), there could be a “gut-check quick drop”; however, he also pointed out that for him “new lows” means that he will buy even more $ETH since even now he finds Ethereum’s “2-year risk/reward” quite attractive. Essentially, Pal believes that tat worst, $ETH could fall to the $800-$900 range, but the upside is much bigger since — as he has said in the past — he expects the $ETH price to reach $20,000 in the net couple of years.

One popular crypto analyst who agrees with Pal’s view that Ethereum will outperform Bitcoin in the next few years is Ben Armstrong, who told his over 880K Twitter followers that he expects $ETH to have a higher market cap than $BTC by 2025:

Image Credit

Featured Image via Pixabay

Source: Read Full Article