Raoul Pal, former Goldman Sachs executive and Real Vision CEO, is buzzing with optimism about the crypto market. In a recent casual chat, he spilled the beans on what he believes is the setup for a major bull run that will send digital currencies soaring to new all-time highs.
Pal shared his insights in a laid-back ask-me-anything (AMA) session, highlighting that while some short-term turbulence is expected, he’s banking on a “real run” that will propel crypto values to unprecedented levels later this year.
In his own words, “There’s some chop coming our way in the short term, but I’ve got my eyes set on the bigger picture. The recent green light for Bitcoin exchange-traded funds (ETFs) in the spot market and the upcoming halving event in April are the key players here. Once leveraged positions take a hit and the smoke clears, that’s when the crypto king and its digital counterparts are going to shoot up.”
He elaborated on the ETF scenario, mentioning how all the preorders have been snapped up, with ETF providers practically begging their clients to get on board. According to Pal, this surge in demand, potentially hitting $1 to $2 billion, will set the stage for a rollercoaster ride of volatility.
As he puts it, “Expect some bumps, maybe a 30%-35% dip – it’s par for the course. People get jittery when we reach this particular Fibonacci level in the first leg of the bull run. Leverage gets wiped out, the impatient sellers do their thing, and then the real magic happens. The true rally, the one that breaks all previous records, typically kicks off around the halving. So, brace yourselves for a month or two of turbulence, but after that, it’s showtime.”
In the midst of the crypto chatter, Bitcoin is currently cruising at $42,953, showing a minor dip over the last 24 hours. The anticipation is high, and according to Raoul Pal, the stage is set for the crypto market to steal the spotlight with a grand performance in the coming months.