Real Vision’s CEO has predicted that the main cryptocurrency and the leading altcoin by market capitalization will climb by more than 400% in price.
Raul Pal, the CEO of Real Vision and a former employee of Goldman Sachs, forecasted that the price of bitcoin will grow to $ 250-400 thousand next year (up 431-751 percent from current levels), while the price of Ethereum will reach $ 20 thousand. (This is a 471 percent increase from present levels).
According to Pal, the main cryptocurrency active growth cycle will last roughly three months, during which time the coin’s price will increase fivefold. According to the CEO of Real Vision, the rise in the bitcoin rate is aided by rising inflation in the United States.
Raul Pal remarked that the amount of Ethereum in circulation is dwindling by the day. According to him, a portion of the altcoin offer has already been restricted in the decentralized finance (DeFi) and non-fungible tokens sectors (NFT)
“There is about 11% of the total amount of Ethereum left, and it is decreasing every day. Demand is growing exponentially.
The only result is an exponential rise in prices, ”explained the CEO of Real Vision.
On August 5, the London update was deployed on the altcoin network, which fundamentally modified the mechanism for computing transaction fees. Some of the commissions that miners used to get as a bonus are now being burnt.
According to the ultrasound.money service, more than 157.4 thousand Ethereum worth $ 542.5 million had been burned on the cryptocurrency network since the update was activated. The average amount of ETH burned every minute is 4.05 ETH.
