Raoul Pal, a former Goldman Sachs exec and CEO of Real Vision, is predicting a big boost for Bitcoin and other cryptocurrencies. He believes a surge in global money supply will send prices soaring.
Money Supply and Bitcoin: A Historical Pattern?
Pal, who boasts over 1 million followers on X (formerly Twitter), points to a historical correlation between Bitcoin’s price and the global money supply (M2). He argues that the current market correction is similar to one seen in 2017, following the start of Donald Trump’s presidency. Both instances saw initial dips followed by significant price increases. He suggests this current dip is just a temporary setback before another big rally.
Technical Analysis Points to Further Growth
Pal also uses technical analysis, specifically a logarithmic regression channel, to support his prediction. This analysis suggests Bitcoin’s price will continue to climb within a predictable range, potentially exceeding previous highs.
Bitcoin’s Current Price and Future Outlook
At the time of writing, Bitcoin is trading around $80,703, up slightly in the last 24 hours. While Pal’s predictions are bullish, it’s important to remember that cryptocurrency investments are inherently risky. Always do your own research before investing.
