The founder of Real Vision and Global Macro Investor, Raoul Pal, is predicting “ridiculous” price acceleration for the crypto markets in the coming months.
In a new Real Vision Finance video, the macro guru says he’s looking at the big picture, which tells him that the ongoing crypto market correction will soon be over.
“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.”
IDon't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/andreiuc88/Vladimir Sazonov