Crypto analyst and investor Raoul Pal claims that bitcoin and ether are on the verge of a price breakout, with ETH poised to potentially outperform the top cryptoasset at some point in the future.
Pal, CEO & founder of Real Vision, published a series of tweets on June 1 explaining that bitcoin was experiencing a price breakout after jumping above $10k.
No big deal. Here is bitcoin breaking out… #Bitcoin $BTC pic.twitter.com/hm5EaxhPb9
— Raoul Pal (@RaoulGMI) June 2, 2020
According to Pal, Monday’s price increase for bitcoin represented the asset’s largest chart pattern break thus far.
And here it is on a log scale… this is the biggest chart pattern break out thus far… pic.twitter.com/WSNYLLvvrT
— Raoul Pal (@RaoulGMI) June 2, 2020
Pal also commented on ethereum’s sudden price increase, which took ether above $250. Pal claimed that ETH had likely based and was poised for a breakout, with the charts pointing to ether outperforming bitcoin “at some point.”
It even looks like Ether will outperform Bitcoin at some point (no position yet). pic.twitter.com/nMg1Qer0IB
— Raoul Pal (@RaoulGMI) June 2, 2020
Pal pointed out the value of investing in crypto-related equities, such as Mike Novogratz’s Galaxy Digital Fund, which could receive a boost from the positive price movement of top cryptoassets.
The Real Vision CEO concluded his series of tweets by asking crypto supporters to avoid “tribal attacks” against bitcoin or ethereum, saying the assets represented different ecosystems rather than direct competitors.
Please remember: No tribal attacks about bitcoin vs ethereal. They are two different things and two different ecosystems. Also, I chose Galaxy because I know it. You might know other plays.
Good luck! It's a digital future out there, so go grab your stake on it.
— Raoul Pal (@RaoulGMI) June 2, 2020
Featured Image Credit: Photo via Pixabay.com
