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
389
2 min
0
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.
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.
Trader Gareth Soloway predicts the “contamination” of the crypto industry by the recession
In this, he noted that amid the banking crisis in the US, digital assets have proven to be an alternative to traditional finance
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.
Useful material?
Telegram 
Twitter Mining
Along with this, the company will reduce non-mining business units
Nov 8, 2024
Market
Earlier, Trump promised to include the first cryptocurrency in the country’s reserves if re-elected as president
Nov 7, 2024
Incidents
According to the publication, the platform’s activities fall under the definition of gambling
Nov 7, 2024
Market
According to the founder of TRON, the leading US crypto exchange asked for several hundred million dollars for the listing of TRX
Nov 4, 2024
Incidents
The company conducted fictitious trading for six years to inflate the trading volume of tokens of several companies, receiving payment for these services
Nov 1, 2024
Market
1,5 million addresses have already left applications
Oct 31, 2024
Cryptocurrency rates
-
Bitcoin
$77 167
BTC
+0.89%
-
Ethereum
$2 971.33
ETH
+3.21%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$0.553138
XRP
-0.4%
-
Dogecoin
$0.197375
DOGE
+2.18%
-
Cardano
$0.444429
ADA
+13.21%
-
Bitcoin Cash
$375.77
BCH
-1.63%
-
Polkadot
$4.35
DOT
+5.1%
-
Litecoin
$73.03
LTC
+1.59%
-
Stellar XLM
$0.100879
XLM
-0.29%