Former Goldman Sachs manager and macro guru Raoul Pal evaluated the developments in the market. According to Pal, altcoins are approaching ‘banana territory’. Therefore, Pal says that the altcoin market cap is on the verge of rising to all-time highs.
Macro Guru: Spring is coming for altcoins!
cryptokoin.comAs you can see from , Bitcoin and altcoins have been having a hard time getting ahead for a while. However, according to Real Vision CEO Raoul Pal, this is about to change. Pal says the digital assets market could enter a “crypto summer” within a month, where ETH, SOL, ADA and other altcoins could make big rallies. A “crypto post” usually means increased prices, higher trading volume. In this context, Pal makes the following statement:
It is very normal for Bitcoin to outperform during the crypto spring and then as we enter the crypto summer ETH starts to outperform Bitcoin… Will it outperform Solana? I highly doubt that. Solana is earlier in the adoption curve, so that means the percentage changes are larger.
Raoul Pal: This chart will really go bananas!
According to Macro Guru, we are at the beginning of crypto spring. Pal says this pattern has broken and there has been a slight acceleration. He states that this shows that we are approaching the warmer days of spring. Macro Guru also comments:
But really, summer is when you break the previous all-time high in market cap and things get completely crazy. So with the exception of Ethereum (chart below altcoins), so the rest of this space, it’s really starting to accelerate and we’re going to hit an all-time high altcoin market cap sometime in 2024 and that chart is really going to get into banana territory.
““In the next month and a half or so, we will start to enter banana territory!”
Pal also predicts that the crypto market will experience a “crypto crash” similar to the 2013 and 2017 cycles, when the market rose even further. Many analysts believe that crypto moves in four-year cycles. He also divides the cycles into four seasons of the year to explain the different phases. Pal explains his views on this issue as follows:
Let’s talk about crypto writing in very simple terms. Here is the table of seasons. So spring is green. We had a great spring this year. Summer is when most of the gains start to materialize. Autumn was difficult last time. We have experienced a stunted cycle. If you remember, it was a double top style thing. It was quite unusual. 2017 and 2013 were typical fall seasons. So we don’t know how this will turn out. I think it will be more like 2013 and 2017, but it’s all about evaluating the possibilities. But right now this year is an easy year, it’s summer.
Pal predicts the crypto summer will begin in the next month to month and a half. In this regard, he said, “Very soon, next month, like the next month and a half, we will start to enter the banana region. And this is what happens when you enter banana territory. Things get completely out of hand. That’s the truly magical part of why this is the greatest macro trade of all time. And this is coming.” says.
According to his chart, Pal predicts Bitcoin will rise to six figures during the “crypto summer.” Accordingly, he estimates it will go up to $300,000.
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