Four Altcoins Will Follow Bitcoin and Ethereum’s Powerful Adoption Curves, Predicts Macro Guru Raoul Pal
Macro investor and former Goldman Sachs executive Raoul Pal says four altcoins are closely following the strong adoption curves laid out by leading cryptos Bitcoin (BTC) and Ethereum (ETH).
In a new interview on Anthony Pompliano’s YouTube channel, Pal names four crypto assets with rapid network adoption trajectories that mirror BTC and ETH.
The Real Vision CEO says smart contract platform Solana’s (SOL) adoption rate is almost perfectly mirroring Ethereum.
“Ethereum is exactly following, and I mean exactly following Bitcoin in 2017 in both price and price structure. Bitcoin is following Bitcoin 2013, which is fascinating, in price structure but not price itself.
I bet you Solana is following Ethereum in 2017. If anybody was in the market at that time, Ethereum was the rocket ship that took everybody by surprise, and guess what… it’s [an] exact chart fit.
And the prices are the same. Solana is exactly following Ethereum, Ethereum is exactly following Bitcoin… it’s like the magic is all in this network adoption.”
Pal goes on to name three other smart contract platforms that he sees gaining wide network adoption and therefore increasing in value.
“The other [three] that are in that fast-growth, fast-adoption phase where you see exponential price rises more than anything else are obviously Terra, probably Avalanche, and probably Polkadot. And I think they will all do well in this cycle. And like Ethereum, they’ll all go down a lot later. And then from that, we’ll see how it builds out.”
Terra (LUNA), Avalanche (AVAX), and Polkadot (DOT) are trading at $37.27, $54.40, and $33.69 respectively at time of writing, according to CoinGecko.
Pal explains that he likes these platforms because of the number of projects developers are building on them.
“It’s bizarrely consistent. I never thought this would be the case, because you see all the people online, it’s like, ‘My project, my project.’ But when you net balance it all out and just apply adoption effects and [ask] do these things look similar? They’re almost identical. Which is amazing.”
When asked how he views the importance of blockchain decentralization from an investment perspective, Pal says,
“It’s risk curve. That’s why Bitcoin sits at the bottom of the risk pile. [Bitcoin is] the foundation asset because it is the most decentralized. It’s not rocket science.
But once you go further out, [crypto assets] become less decentralized, so they’re riskier assets. [It] doesn’t mean they don’t play a role, [but] they can’t play the role necessarily of being that kind of reserve asset. They do have a risk element that’s harder to price, which Bitcoin doesn’t have.”
I
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Teo Tarras
Credit: Source link
Comments are closed.