Former Goldman Sachs executive Raoul Pal says he believes the remaining months of 2021 will be extraordinary for the crypto markets.
In a new Real Vision Finance interview, Pal says he expects Bitcoin and the broader crypto markets to have a big run-up by the end of the year.
[adinserter block="1"]“Generally speaking, the last quarter of the year is when all the buses come. Everybody’s job is to be on the lookout for those buses. Because… you don’t want to be run over by the bus, and you want to catch the right bus… My bet is that the crypto bus is a rocket ship and not a bus. And this last quarter will be extraordinary.”
Pal highlights that a change in the macro landscape in the coming months will serve as a catalyst that drives the price of growth stocks and tech-based assets to greater heights.
“I think [in] the macro market also, the buses start to come in. Which is the slowdown in growth, i.e. change in the macro narrative. That’s all we need: positive or negative change in the macro narrative drives opportunity. And I think that opportunity is coming.
I think it’s in the realm of weaker bond yields, probably weaker markets for a period of time, then more stimulus, and that ignites the growth stocks. That whole exponential age thesis again, and shifts what people are focused on in markets.
It shifts away from commodities back to technology… The whole year is usually made between September and December.”
Last month, the macro guru described the “perfect setup” for the continuation of the bull market, which involves the loose monetary policies of central banks and the sound money properties of crypto assets.
“So we have rate cuts, and this perfect setup with no supply, and demand in the middle of an exponential bull market. You don’t get these often in your life.”
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