Bitcoin is poised for a major surge, according to Raoul Pal, former Goldman Sachs executive and CEO of Real Vision. Pal, who has over a million followers on X (formerly Twitter), says Bitcoin’s price is closely linked to global liquidity, which is on the rise.
Liquidity is Key
Pal shared charts comparing global liquidity with Bitcoin’s price, suggesting a potential breakout to $90,000 by November. He also pointed to a historical relationship between Bitcoin and the global money supply (M2), indicating a strong correlation.
Bullish Outlook
Real Vision macro expert Julien Bittel echoes Pal’s sentiment, saying the macroeconomic environment is becoming more favorable for risk-on assets like Bitcoin. He believes a wave of liquidity is coming, which could propel Bitcoin to new highs in the fourth quarter.
Patience is Key
While the market is showing signs of bullishness, Bittel emphasizes the importance of patience. He advises investors to hold tight as the liquidity surge takes hold.
Bitcoin is currently trading at $60,219, up over 3% in the last 24 hours.
Disclaimer:
This information is for general knowledge and does not constitute investment advice. Always conduct thorough research and consult with a financial advisor before making any investment decisions. /p>
