Macro expert and Real Vision CEO Raoul Pal, Bitcoin $92,802.9He stated that (BTC) follows the same pattern about nine years ago and will then start a parabolic rise. In a statement on social media platform
Bitcoin’s 2016 Adventure
Pal emphasized that Bitcoin was traded at around $1,000 in 2016 and rose to $20,000 within a year. However, he said that we should not expect an exact repeat of the 2016 rise, but rather that there is the possibility of a similar upward push.
Raoul Pal follows the global M2 metric closely. M2 is a broad measure of the money supply in the world’s economy. According to Pal, global M2 is repeating the same pattern that it exhibited in the 2016-2017 period, and this is paving the way for a major upward move for the crypto king.
“Why don’t you worry about everything going well… (you have to believe in yourself, you don’t have to take what a person like me believes). Global M2 repeats 2016/7.” – Raoul Pal.
Raoul Pal’s Expectations
Bitcoin is currently trading at $93,673. Pal stated that investors should not fully expect the rise in 2016, but a similar trend may continue. Pal also stated that market conditions can positively affect cryptocurrency markets and that Bitcoin is likely to increase in value over time. He emphasized that investors should be calm in this process.
Bitcoin’s recent performance is promising compared to what has happened in the past. However, it is also stated that due to the nature of the markets, uncertainties will continue and investors should be careful. Although historical data tend to repeat, growth may not always be as large as in previous periods. For example, BTC does not have a price that allows it to increase 100 times today, and years ago this was technically possible due to its lower market cap.
Bitcoin’s recent activity is causing both excitement and cautious expectations among investors. Raoul Pal’s analyzes provide important clues about potential future movements.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
