Raoul Pal believes that right now the crypto market is only mimicking the bull cycle that was in 2015-2016. In 2019, the market started to grow too and showed a 300% jump in a certain period of time. Later experienced a massive downturn, but then grew by over 700% in a short period of time. Therefore, Pal is optimistic and believes it is time to buy bitcoin, as he said back in June.
Investors should expect confusion specifically in the banking sector, Real Vision’s CEO says. Interest rates are out of control, rising and an inverted yield curve will inevitably lead to intervention by the US Federal Reserve (Fed), insists a businessman. Along with the banking crisis there is an ongoing real estate crisis that could also prompt the Fed to take action.
Raul Pal expects the Fed to offer the liquidity the U.S. government needs to pay down the national debt. Now the Fed is tightening rates even more, because if it doesn’t, the central bank will have to print even more money, and that will be a total disaster, a former top Goldman Sachs executive lamented.
Earlier, the Real Vision executive predicted that bitcoin could easily hit $50,000 within a year, as it would be considered as protective as gold.