Raoul Pal’s Bitcoin Predictions: Should You Buy Now or Wait?
Raoul Pal, a renowned cryptocurrency macro specialist, and author, recently sat down with Altcoin Daily’s Aaron Arnold to share his thoughts on the future of the cryptocurrency market. His predictions come at a time when Bitcoin and Ether are experiencing modest gains after a short decline.
Invest In BTC: Raoul Pal
When asked if it was a good time to invest in Bitcoin, Pal stated that the crypto winter was over and we were now heading towards spring. He acknowledged that Bitcoin would experience more temporary downturns, but eventually, the king coin would recover, even if it took time. The macro analyst also believes that this is an excellent opportunity for long-term investors who truly believe in crypto technology to invest in Bitcoin because, by the end of the year, it could return to its all-time high of $60,000.
Pal also commented on the negative impact of cryptocurrency regulations, stating that the SEC’s crackdown on cryptocurrencies could affect the value of such assets in the short term.
However, it would have no lasting impact on the underlying blockchain technology or the pace of innovation worldwide.
Cautionary Words For Investors
Aaron also asked Pal about his famous bullish outlook on Ether. Pal replied that the current consensus mechanism of Ether, which is proof of stake, makes ether scarcer in supply, thereby increasing its demand. He believes that Ethereum is the most vibrant ecosystem in the industry, with the most impressive adoption rate. Pal stated, “Ether is the money of the internet, and it is not going to lose that.”
The macro expert shared that he has a rough price target of about $10,000 for ETH, though he does not believe in price predictions. As of press time, Bitcoin is hovering around $22,100, and Ether is still above the critical support level of $1,500.
Pal closed the interview with some advice for crypto investors: “Zoom out and realize that you don’t know anything. Accept that you don’t because none of us do. Listen to analysts that help you understand the market better, not the ones that want to teach you how to become rich. Think of the bigger picture.”