Macro Guru Raoul Pal Tips Ethereum To Hit $3,600 By October: 'Close To A Face-Ripping Rally'

Former Goldman Sachs executive Raoul Pal made bullish predictions for Bitcoin BTC/USD, Ethereum ETH/USD, and Solana, anticipating a market cap of at least $10 trillion, during the next bull market cycle.

What Happened: Pal believes that the cyclical and secular trends have converged to create a perfect opportunity in the market for ETH and BTC.

He notes that Ethereum’s resurgence has led it to prevail like Bitcoin in 2014-2016, and has predicted that ETH is poised to land at $3,600 by October, while Solana’s continued growth has made it look much like Ethereum did in 2019. 

The analyst highlights that the next leg higher is imminent.

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Why It Matters: Pal also points out that Bitcoin and Ethereum are still in consolidation mode, but suggests that a big break is coming soon. 

"My feeling is that we are very likely close to a face-ripping rally in crypto before things calm down for a bit. Remember that May and June are historically the strongest months in the first year of a bull market. However, next year and 2025 will be the big ones."

Price Action: At the time of writing, Bitcoin was trading at $27,792.23, down 1.13% in the last 24 hours, according to Benzinga Pro.

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