According to a recent tweet, Raoul Pal, co-founder and CEO of Real Vision, is still bullish on Ethereum (ETH).
In fact, Raoul Pal believes that the ETH/BTC ratio is currently “the single most bullish asset price chart.”
At the time of writing, Ether is trading at 0.077 BTC, aiming for a third straight day in the green.
On September 8, the ETH/BTC pair reached a high of 0.085 BTC. However, it fell more than 12% in the run-up to the much-anticipated “Merge” upgrade, which turned out to be a “sell the news” event.
After the latest bull run came to a halt in December, Ethereum peaked at 0.088 BTC.
It is worth noting that the ETH/BTC pair is still 50% lower than its all-time high of 0.156 reached in June 2017.
Price forecasts from Pal should be taken with a grain of salt. He predicted that the Ether price would reach $20,000 by the end of the year in September.
After the price of Ethereum reached the top of the previous cycle in November, Raoul Pal doubled down on his bullish prediction.
On the Binance exchange, Ethereum is currently trading at $1,591, down 67.36% from its all-time high.
Bitcoin recently reclaimed the $20,000 level. On the Binance exchange, it is currently trading at $20,575 USD.