Real Vision CEO and macro investor Raoul Pal says signs point to a historic bull run that could mirror 2017—and possibly extend into Q2 2026.
In a new video update, Pal shared that today’s crypto setup feels almost identical to 2017, when Bitcoin skyrocketed 1,255%, climbing from $1,044 to $14,156 in just a year.
According to Pal, a proprietary business cycle indicator he tracks is now reading below 50, signaling early-stage global economic growth—an ideal condition for major crypto rallies.
“This setup is more like 2020 than 2021,” he said, noting that Bitcoin surged 304% in 2020 when similar conditions lined up.
Another strong tailwind? The US Dollar Index (DXY) has dropped 8.99% in 2025, now sitting at 98.77. Since Bitcoin tends to move inversely to the dollar, this decline is seen as a bullish catalyst.
“A weak dollar, slow Fed moves, and strong liquidity could extend the cycle to mid-2026,” Pal explained.
Pal also revealed details from recent meetings with sovereign wealth funds in Saudi Arabia, UAE, and Qatar. These governments are:
“They believe blockchain and AI will shape the next decade,” Pal said.
With macroeconomic conditions aligning—weak dollar, early-stage growth, and growing institutional interest—Pal sees massive upside potential for Bitcoin and altcoins.
However, he offers a word of caution:
“This is a projection, not a guarantee.”
Bitcoin is showing the same early signals that preceded past parabolic runs. If Raoul Pal is right, the crypto bull market of 2025 could surpass even the most optimistic forecasts—and may stretch well into mid-2026.
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