Real Vision CEO Raoul Pal, one of the important names in the crypto money market, made important statements about the crypto market in a recent interview with the YouTube channel The Stakeborg Talks.
The famous CEO expressed that he believes that the recent volatility in Bitcoin is due to the sales of institutional investors to increase their year-end profits.
Drawing attention to the data shared by Glassnode that the sales in December came from wallets that accumulated Bitcoin in the summer period, Pal said that the selling pressure in the crypto market will end.
“The selling pressure seems to be over because the market has fluctuated over the past week. This shows that institutional investors have completed their sales.”
What Awaits Cryptocurrencies in 2022?
Warning that the correction in the cryptocurrency market may still not be over, Raoul Pal said that he predicts that sales may continue in Asia.
Pal stated that although sales continue in Asia, the completion of profit realization by institutional investors opened the doors for cryptocurrencies to start the new year strongly and expects upward price movements in 2022.
Finally, Raoul Pal added that the increasing adoption in the cryptocurrency industry has also been noticed by institutional investors, in this context, institutional adoption will increase further in 2022.
*Not investment advice.