Former CEO of Goldman Sachs predicts an influx of 700 million users in the crypto industry

According to Raoul Pal, this will happen as part of a new bull cycle in the market

24.04.2023 - 14:00

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2 min

What’s new? Raoul Pal, a former executive of the investment bank Goldman Sachs and Real Vision TV CEO, expects the number of crypto users to increase from 300 million to 1 billion as part of the next bull cycle. The expert suggested that cryptocurrencies will see a large-scale capital inflow that will lead to new innovations in the sector. He shared his opinion in an episode of “What's on Raoul's Mind?” on Real Vision’s YouTube channel.

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What other statements have been made? According to Pal, during the new bull cycle, there will be applications in the market that “you haven’t dreamt of, or things you thought weren’t coming.” And market growth will be massive, with innovations ranging from decentralized finance (DeFi) and Web 3.0 to the creation of entirely new industries.

The former head of Goldman Sachs also spoke of an impending recession in the US economy, which will lead to a new issue of dollars by the Federal Reserve System (Fed) to support markets. In this, the regulator is unlikely to continue raising interest rates to lower inflation.

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In March, Pal called bitcoin “shockingly strong” amid a loss of confidence in banks. He said that the US authorities would provide significant opposition to the strengthening of the crypto market, which could force local companies to change jurisdictions.

In late 2022, Pal stated that “2023 to be a decently good year and 2024 to be an extremely good year” for bitcoin and Ethereum.

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