Former Goldman Sachs Executive Predicts Crypto Bull Market Has Just Begun
Raoul Pal, a former executive at Goldman Sachs, believes that the current crypto bull market cycle has only just begun and could last for several years. He predicts that Bitcoin (BTC) could potentially reach a high of $1 million by 2025.
In a video posted on his YouTube channel, Pal shows a long-term chart of Bitcoin since 2013 and explains that the early cycle was an anomaly that distorts the chart. However, he believes that the overall trend is on a perfect logarithmic path. He also mentions that the business cycle is expected to peak in late 2025, which could result in Bitcoin reaching between half a million and a million dollars.
Comparing the Current Bull Market Cycle to 2016-2017
Pal suggests that the current bull market cycle is similar to the one experienced in 2016-2017 when liquidity influx drove digital assets to new highs. Despite the recent strong rallies of Bitcoin and other altcoins, Pal believes that this bull market cycle is still in its early stages.
He points out that the previous cycle did not have significant central bank printing in the US, but there was an increase in central bank balance sheets. This led to a 20% growth in liquidity and a surge in the crypto market. Pal sees similarities with the current situation and emphasizes that there is still plenty of room for growth.
Bitcoin Price Update
As of now, Bitcoin is trading at $43,482, showing a 3.1% increase over the past 24 hours.
Hot Take: Crypto Bull Market Has Tremendous Potential
Raoul Pal’s analysis and predictions suggest that the crypto bull market is just getting started. He draws parallels between the current cycle and the previous one in 2016-2017, highlighting the potential impact of liquidity influx on digital assets. Pal’s optimistic outlook and target of $1 million for Bitcoin by 2025 indicate that there are significant opportunities for growth in the crypto market. With Bitcoin’s current price increase and the ongoing development of the industry, it will be interesting to see how this bull market unfolds.
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