Macro expert and former Goldman Sachs executive Raoul Pal said Ethereum ETH/USD has outperformed every major asset gaining over 98,000% in the last five years.
What Happened: Pal told his 991,000 followers on Twitter that “even with a 65% pullback”, ETH continues to be the best-performing asset. At the time of writing, ETH was trading at $1,284 up 1.22% in the last 24 hours.
Data from LunarCrush shows that ETH was trading at $1.2 on Aug.12, 2015, which means a 105,405% increase as of Wednesday.
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In an interview with co-founder and host of Impact Theory, Tom Bilyeu, Pal said that despite the crypto industry's negative sentiment being at an all-time high, its fundamentals remain strong. “I’ve never in my career seen sentiment like this, both in crypto and the stock market,” he said.
According to Pal, anger, resentment, fear, and resentment are all at an all-time high at the moment. Pal says the crypto space is bullish because institutional investors are increasingly adopting it, and big tech is increasingly intertwining with the crypto industry.
Long-term crypto investing is the approach that Pal recommends to investors, urging them to buy during panic selling phases and hold onto their coins in order to benefit in the future.
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