‘Ridiculous’ Price Acceleration Coming To Bitcoin And Crypto Markets?
Raoul Pal has been bullish as all get out for some time now and he forecasts an acceleration of ridiculous prices incoming within a few days
“Nothing is going to change versus the macro backdrop of network adoption. We’re at the point in the cycle where network adoption is very strong. I don’t see a change in that. So really, it’s where are we and when does this correction finish, which I think finishes in the next two to three days if my work is right. And then if I’m right, we should start to see accelerated moves.”
The former Goldman Sachs executive also unveils his investment thesis for the crypto markets, which he says will be confirmed once the Ethereum Bitcoin pair (ETH/BTC) reclaims a crucial level.
“My thesis is based that October, November [and] December are ridiculous. I use a lot of charts for that. [I] start to look at some of the other protocols and tokens are performing versus Ethereum and Bitcoin because we should see a further out on the risk curve still. So we should see over time that Ether/Bitcoin cross. I think that’s got almost up to 0.08 [BTC]. It came down again… 0.07 [BTC]. I think once it goes through 0.08 [BTC] that will be the signal for the next phase in this whole crypto market, which is usually the rewarding phase.”
Pal also says that he’s using the current correction to get more positions before his expected price acceleration.
“I added the dip last week [and] earlier this week, and I have no cash left to put in the market so that’s it.”