Real Vision CEO predicted the crypto market growth amid the weakening global economy
Raoul Pal believes that the digital asset market needs a boost to move into a “bullish” phase
25.04.2022 - 13:40
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What’s new? Raoul Pal, a former employee of the investment bank Goldman Sachs and the founder of Real Vision TV, stated that changes in the global market conditions could trigger the rise in the crypto market. He suggested that if the US economy or the global economy starts to weaken, then there will be fewer rate hikes. The analyst added that this will have a good effect on the cryptocurrency. Raoul Pal shared his opinion in an interview with the YouTube channel, BitBoy Crypto.
What else did Raoul Pal say? The head of Real Vision also noted that financial institutions continue to invest in the crypto market even as the number of retail investors declines as a result of inflation. Pal said that retail will return when people see fluctuations in the prices of crypto assets and feel that they can make money.
Analysts’ views and predictions. On April 5, the head of an American hedge fund Pantera Capital, Dan Morehead, predicted massive growth of the crypto market. He believes the price of bitcoin will be less volatile in the future. Morehead argues that an increase in the institutional ownership of BTC and an increase in its market value will mitigate the first crypto asset’s price fluctuations.
Matt Hougan, the chief investment officer of Bitwise Asset Management, noted that the cryptocurrency market is entering a “bullish” phase that could last until the end of this year. One of the triggers for a new “rally,” according to him, will be the implementation of the full-fledged regulation of digital assets.
On April 10, former BitMEX CEO predicted crypto market collapse by the summer of 2022. He believes that bitcoin will drop to $30 000 and Ethereum to $2 500. Hayes attributes the possible decline in the cryptocurrency exchange rate to rising nominal interest rates, deteriorating global fiat liquidity conditions, and falling global economic growth.
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