December 3, 2022

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An Ethereum competitor has a very high chance of leading the next bull cycle, according to macro guru Raul Pal

An Ethereum competitor has a very high chance of leading the next bull cycle, according to macro guru Raul Pal

Raoul Pal, former CEO of Goldman Sachs says about one particular Ethereum (ETHThe competitor is likely to outperform the rest of the cryptocurrency markets in the upcoming bull run.

In a new session Ask Me Anything (AMA), the Real Vision founder said so while Solana (SolThe blockchain has faced technical problems recently, which does not negate the high activity of the Ethereum competitor on the chain and the growth of the network.

“I love Solana. Yes, I understand that it keeps crashing. Yes, I also understand that everyone knows there is no informational advantage in it at all. So, if it survives the crash and it is one of the largest encryption protocols and has more activity than any other chain Outside of Ethereum, the probability of Solana participating well in the next cycle is very high for me.

So I love Solana, he’s the one for me.”

Ball says that most asset classes are driven by the growth of central bank balance sheets, and when they expand, they tend to devalue fiat currencies.

The macro expert says that the only sectors that usually outperform currency depreciation in real terms are cryptocurrencies and tech stocks, which is why it remains bullish in the long run in digital assets.

“What’s really interesting is when you break everything down on a central bank balance sheet, what outperforms fiat devaluation? Only two things in the world: the two things are cryptocurrency — Bitcoin and Ethereum — and tech stocks, because they are secular trends in technology. Nothing else outperforms the Fed’s balance sheet, even real estate [is] largely sideways. It does its job, it preserves wealth, it does not make wealth.”

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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making any high-risk investments in bitcoin, cryptocurrencies, or digital assets. Please be aware that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrency or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

Featured Image: Shutterstock / GrandeDuc / Natalia Siiatovskaia