Expert Predicts Ethereum (ETH) Entry Points For Retail, Institutions, Hedge Funds

Read full article at Coingape.

Expert Predicts Ethereum (ETH) Entry Points For Retail, Institutions, Hedge Funds

The Ethereum (ETH) price skyrocketed last week, making a high of $1774 despite the U.S. Fed rate hike and negative GDP report. While ETH price is moving sideways with the fundamentals staying strong, crypto expert Raoul Pal asserts the Ethereum rally will continue over the $2000 level as hedge funds, retail and institutional investors look to jump in.

Raoul Pal Believes Crypto Strong Amid Big Picture Macro

Investment strategist and macroeconomics expert Raoul Pal in a tweet on August 1 claims crypto will outperform other assets. Especially, Ethereum (ETH) looks stronger than Bitcoin (BTC) due to the Merge and rise in network activities.

The general sentiment is that markets may retest low levels due to bad macro conditions. In fact, people who invest in cryptocurrencies had turned part of their crypto investments into cash. Raoul Pal noted that hedge funds, retail, institutions, and family offices are underweight on crypto.

Ethereum (ETH) is likely to stay strong above the $1500 psychological level and rally higher. Hedge funds have already started pouring funds into Ethereum, making buy calls for ETH to break $1800 and reach the $2000 psychological level.

Ethereum (ETH) Price Trend
Ethereum (ETH) Price Trend. Source: Raoul Pal

The ETH price above the $1800 level will most likely attract retail and institutional investors. Expect a high of $2200-$2300 pre- or post-Merge. Thereafter, a sharp correction and again a price pump after the Merge may be seen based on macro factors.

Raoul Pal says “the macro is key here.” Global M2, a measure of money supply, the liquidity in the crypto market will improve as the G2 improves. Indeed, the rising ISM 16-month lead, ISM Manufacturing Index, indicates rising crypto prices in the second half of 2022.

Global M2 and Crypto Market Cap. Source: Raoul Pal

Ethereum (ETH) Starting to Price In

The Merge will be significant for the Ethereum price, as co-founder Vitalik Buterin said “Merge isn’t priced in yet.” However, Raoul Pal believes the last 3 years have been all about ETH. Also, ETH is breaking out versus Bitcoin due to superior current network effects and network activity.

Meanwhile, Bitcoin’s (BTC) price has outperformed Nasdaq 100, with the price currently trading at $23,304.

“Sure, other tokens will outperform ETH but crypto overall will outperform all other assets, in my view. The long-term is clear.”

The post Expert Predicts Ethereum (ETH) Entry Points For Retail, Institutions, Hedge Funds appeared first on CoinGape.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency

Related articles

NFT gaming company Animoca Brands acquires majority stake in Bondly

Read full article at News. The blockchain game developer is looking to improve cross-chain utilization of nonfungible […]

Learn More

CIA Running a ‘Number of’ Active Crypto Projects, Director Claims

Read full article at Crypto News.  The Central Intelligence Agency (CIA) Director William Burns has admitted that his […]

Learn More

Is A Bitcoin Winter Here? Next BTC ATH Could Only Come By 2024

Read full article at Coingape.The cryptocurrency market tumble has just halted for a while as the major tokens […]

Learn More