Macro investor and former Goldman Sachs executive Raoul Pal stated that Bitcoin and the cryptocurrency world are on the verge of entering part of a bull cycle where markets tend to be more bullish in general.
Making a statement in the new episode of Crypto Banter, Pal said that after the “brutal” correction period of the digital asset markets in the last few months, he finally presented a picture ready to rise.
“We are in one of the best phases of the entire cycle. Whatever the price is, it will go up somehow. We felt all the FUD (fear, uncertainty and doubt) all summer. This was a serious 50% correction. Basically, the market has been in a volatile range for Bitcoin since March and continues to “trade sideways” in May for the rest of the market. “This is where it matters.” If you examine the post-halving cycles (intentional reduction in cryptocurrency mining revenue), this quarter is where all the games happen.”
Pal also revealed that he is looking at the catalyst that will help push the cryptocurrency markets higher next year.
“The biggest and most important factor people need to think about is how institutions “allocate” cryptocurrencies. This can be quarterly or annual. So we will see everyone who has not invested yet or wants to increase their weight take part in this bull cycle run. I think January, February and March mean much greater potential, this situation can continue until June,” he said.
Pal stated that he also follows the “total chart,” which tracks the valuation of all crypto assets. According to Pal, the chart is trading in a long-term ascending channel and could potentially be as high as 400% at the end of the bull market.
“If all exponential assets follow the same path and are overbought, it will go from $2 trillion to $8 to $10 trillion at the end of this cycle and then go into a correction.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.