Former Goldman Sachs executive Raoul Pal caught the attention of the crypto community with his optimistic view of the altcoin market in a Twitter message he shared recently. Pal, a respected “economy guru”, believes that a significant capital inflow is on the horizon for cryptocurrencies, particularly the altcoin sector. Here are the details…
Raoul Pal shared his altcoin analysis
Pal’s analysis centers around Total Market Cap excluding Bitcoin (BTC) and Ethereum (ETH), which is referred to as TOTAL3. Pal’s chart analysis of TOTAL3 convinced him that a breakout was imminent. Pal states that the chart exhibits a bullish pattern resembling a falling wedge structure, indicating a potential upside volatility. Total3’s market cap is currently hovering around $332.65 billion, while Pal predicts a breakout could push that figure to over $4 trillion, marking an increase of over 100 percent. Expressing his excitement for the chart, Pal tweeted:
Gorgeous Graphics Alert! I keep looking at this chart. It’s one of the most bullish and excellent charts I’ve ever seen, and the measured target is well over $4 trillion. Total crypto market cap (excluding BTC and ETH).
$10 trillion expectation for overall market cap
Furthermore, Pal suggests that the overall market cap of all crypto assets could reach $10 trillion. This prediction coincides with the belief that cryptocurrencies will outperform other asset classes in the face of increasing global liquidity. Pal highlighted the potential impact of BlackRock’s spot Bitcoin exchange-traded fund (ETF) application, noting that such a development could attract significant fresh capital into the nascent crypto space. cryptocoin.com As we have also reported, BTC ETF expectations in particular have been determining the direction in the market lately.
While Pal’s analysis has garnered attention and excitement among crypto enthusiasts, it’s important to approach these estimates with caution. The crypto market is highly volatile and subject to rapid changes influenced by numerous factors. Investors should do extensive research and exercise sound judgment before making any investment decision. The exit of altcoins and the potential for significant capital inflows into the crypto market undoubtedly creates curiosity and excitement. As the Total Market Cap excluding BTC and ETH approaches the apex of the falling wedge structure, all eyes will be on whether Pal’s prediction will come true and lead to a major turning point in the altcoin market.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. Therefore, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.