Former Goldman Sachs executive Raoul Pal believes that the altcoin market cap is on the verge of reaching new all-time highs. In a recent video update, the CEO of Real Vision stated that the digital assets market could enter a phase of “crypto summer” within a month, which could lead to significant rallies for Ethereum (ETH), Solana (SOL), and other altcoins.

According to Pal, “crypto summer” is characterized by increased prices, higher trading volume, bullish market sentiment, more network development, and wider adoption. He predicts that as we transition from the current “crypto spring,” Ethereum will start to outperform Bitcoin. However, he believes that Solana will outperform Ethereum due to its earlier stage of adoption, resulting in larger percentage changes.

Pal refers to the breakout of the current pattern as the start of “crypto spring,” signaling the arrival of warmer days. However, he suggests that “crypto summer” truly begins when the previous all-time high in market cap is broken, leading to a frenzy in the market. Pal’s chart shows that altcoins, excluding Ethereum, are starting to accelerate, and he expects the altcoin market cap to reach an all-time high in 2024.

In addition to “crypto summer,” Pal also predicts a “crypto fall” similar to the market cycles of 2013 and 2017, when rallies extended even higher. He explains that the crypto market runs in four-year cycles, which can be divided into four seasons to explain the different phases.

Pal anticipates that “crypto summer” will commence in the next month to month and a half. He describes this phase as the “banana zone,” where things get wild and magical. According to his chart, Pal suggests that Bitcoin could reach six-figure prices, potentially reaching as high as $300,000 during “crypto summer.”

It is important to note that the opinions expressed by Raoul Pal are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets.