Former CEO of Goldman Sachs calls the financial crisis a bullish signal for cryptocurrencies

Raoul Pal compared the current market situation to the events of 2013, 2018, and 2020

15.03.2023 - 13:15

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3 min

What’s new? Raoul Pal, a former executive of the investment bank Goldman Sachs and Real Vision TV CEO, said on Twitter that the financial crisis will be followed by a likely increase in liquidity to solve it. According to Pal, such a scenario will become bullish for cryptocurrencies.

A financial crisis + a probable increase in liquidity to come to solve it = the BIG bull case for crypto.Let's see if the liquidity arrives as I expect in due course (and you can use the bond market as your guide - falling yields from here). Feels a lot like a combo of the… https://t.co/oMjQA7WvBk — Raoul Pal (@RaoulGMI) March 15, 2023

What else did Pal write? The macroeconomist noted that the change in bond yields could be used as a benchmark for assessing liquidity growth, stating that the current market situation resembles the events of 2013, 2018, and 2020.

In October 2022, Pal predicted the crypto market’s capitalization would grow to $300 trillion within 10 to 15 years. In early November, he said that NFTs have the potential to change almost every aspect of the public infrastructure, but that the sector is now undervalued.

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In December, the macroeconomist stated that “2023 to be a decently good year and 2024 to be an extremely good year” for bitcoin and Ethereum. According to Pal, market conditions are in some ways similar to those in 2018 before the stock market and cryptocurrency bottoms.

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