Raul Pell predicted when the WTI and ETN will rise to new highs

Raul Pell, CEO of the innovative financial media Real Vision, has said that 2024 will be a successful year for bitcoin and ethereum. The macroeconomics guru is confident that in a little more than 12 months, the two leading cryptocurrencies will demonstrate phenomenal growth.

According to Pel, the current market conditions to some extent mirror those of 2018, before the stock market crash and cryptocurrency crash. This, according to the expert, indicates that digital assets will receive a significant increase in the next 18−24 months due to the growing adoption of virtual coins in the global economy.

«In 2018, the market fell by 20−30%. It was sharp, it was disgusting, everyone was scared. I think that the S&P [500] (stock market index) has grown by 15% since then, oil is up about the same, and NASDAQ (stock market) is up 20%. Bitcoin has shown an increase of 300% or 400%, as has ETH. These were stunning achievements,» the macroeconomist said.

Peel emphasized that Metcalfe’s law (the value of a network directly depends on the number of users it has — ed.) is the reason why BTC and ETH will not be able to show themselves too brightly in 2023. The analyst notes: «What's fascinating about the trend of cryptocurrency adoption this time around, especially in ETH, is that the volumes remain quite high. The number of active users is not decreasing. However, the total cost of cryptocurrency transactions has actually fallen as the price of NFTs has been sinking. Nevertheless, other indicators look robust. That’s why I expect 2023 to be a good year, and 2024 to be a great year.»

Earlier, Peel stated that by 2030, there will be 5 billion cryptocurrency holders in the world, and in the next four years — 2.8 billion. The macroeconomics expert predicts that by this time, the capitalization of the digital asset market will reach astronomical figures. We would like to add that at the time of writing, the flagship cryptocurrency BTC $62,349.48 Bitcoin 0.07% Market capitalization $1.23 trillion VOL. 24 hours $0.43 billion is trading for $ 16,733, and Ethereum ETH $2,429.93 Bridged Ether (StarkGate) 0.62% Market capitalization $0.19 billion VOL. 24 hours $0.23 billion is trading for $ 1,183.