Thursday, April 18, 2024

Raoul Pal: Around December, look for the ‘route of most anguish’

Real Vision, which calls itself a financial TV on demand channel, has been making waves with its market analysis. Founder and CEO Raoul Pal, who was formerly a hedge manager with Goldman Sachs, has shared his opinions on the crypto market cycle. His predictions in a Real Vision interview on November 3rd have caused quite a stir.

Raoul Pal believes that markets tend to take the path of most pain, and has opined that there is the potential for two market crashes over the next six months. According to him, the cycle may end some time between March and June next year. Public opinion has largely leaned towards the bull run ending this December, reminiscent of similar runs in 2015 and 2017.

During the interview he continued to be enthusiastic on Ether. He felt that the upcoming Ethereum 2.0 and the possibility of an Ether Exchange Traded Funds (ETFs) in 2022 might lead to a rally, and attract large institutions to crypto.

This is consistent with his opinions in a previous October interview with entrepreneur and investor Anthony Pompliano. He had suggested that the Bitcoin market is primed for new entry of big capital including sovereign wealth funds and Bitcoin ETFs have made the markets more accessible. At the time, Pal suggested that the bull run could end with Bitcoin close to USD 400,000 and Ethereum closer to USD 40,000. He also stated that we would be at least seeing BTC above the 200k and ETH above the 15k mark. Ecoinometrics data seems to agree with the baseline, suggesting that the next peak for BTC would be around USD 253, 800.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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