Former Goldman Sachs executive Raoul Pal identifies bullish signal for Bitcoin
Raoul Pal, a former executive at Goldman Sachs, has highlighted a signal that has historically preceded massive rallies in Bitcoin. Pal notes that Bitcoin’s 30-day historical volatility has dropped below 20 for the first time this year. This level has historically set the stage for significant price increases in the following months. Pal provides examples of previous rallies that occurred after hitting this level, with gains ranging from 83% to 214% over two to four months. He also points out that Bitcoin’s Bollinger Bands, a widely used volatility indicator, are currently the tightest on record, further supporting the potential for a bullish run.
- Bitcoin’s 30-day historical volatility has dropped below 20, signaling a potential rally
- Previous instances of hitting this level have resulted in significant price increases
- Bitcoin’s Bollinger Bands are currently the tightest on record, indicating further potential for a rally
- Ethereum continues to trade within a bullish continuation pattern, despite recent market corrections
- Ethereum is forming a large bull flag pattern, suggesting further upside potential
Hot Take: Raoul Pal’s analysis suggests that Bitcoin may be primed for a significant rally based on historical patterns and current volatility indicators. Additionally, Ethereum’s bullish continuation pattern indicates potential upside for the leading smart contract platform. Crypto investors should closely monitor these signals and consider their implications for their investment strategies.
By
By
By
By