Real Vision CEO Raoul Pal is predicting that crypto will be the best-performing asset class as the macro guru sees a continued rise in global liquidity.
In a new edition of the former Goldman Sachs executive’s newsletter, he says cryptocurrencies are even likely to outperform what he calls Exponential Age stocks and tech company equities.
“Since last October, we have been suggesting that the two fastest horses in this race (the debasement and liquidity cycle) will be crypto first, followed by Exponential Age stocks and then tech. It is playing out perfectly.”
Pal is also paying attention to the US Investor Intelligence Sentiment Survey, a metric that shows the percentage of investors who are bullish on risk-on assets.
“Looking at another long-term chart, sentiment metrics also remain extremely depressed – the strategic buy signal for equities on this indicator came back in January. So far, so good.”
According to the macro guru, the stock market could soon see a correction after the big rally that kicked off 2023, but he predicts market liquidity will increase, which has historically sparked surges in crypto.
“Short-term, the NDX (Nasdaq) has entered overbought territory versus global liquidity conditions and is likely overdue for a correction some point soon after the monstrous 40% rally off the lows … but the CRUCIAL point to understand is that liquidity will continue to rise.”
The macro expert has previously said that he believes a new bull cycle officially kicked off in October. He predicts new yearly highs for the crypto market with corrections along the way.
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