Bitcoin Reverses 2016 Pattern That Led a 20x Rally, According to Macro Raoul Pal – Here Are His Predictions
Bitcoin (BTC) reflects the same pattern seen roughly nine years ago before igniting a parabolic boom, says Raoul Pal, macro expert and CEO of Real Vision.
In a new topic on the social media platform X, the former CEO of Goldman Sachs He says Market conditions are lining up in a way that could see the rise of the king of cryptocurrencies, just as they did two cycles ago.
However, Pal points out that investors should not expect a complete repeat of the 2016 rally, but rather a similar push to the upside.
“This was the result of the same thing in 2016/[18] For now… calm down. Everything will be fine. Maybe a little less or maybe it’s already been done. Either way, higher over time.
Don’t expect exact repetition, but rather rhyme. Valhalla awaits.”
In 2016, Bitcoin traded at around $1,000 before rising to $20,000 a year later.
Pal also closely monitors the global M2 gauge – a broad measure of the flow of money supply in the global economy. According to PAL, M2 Global is repetition The same pattern it displayed in 2016-2017, which could set up the crypto kingpin for a big move to the upside.
“Why will everything be okay… (You guys need to have your own convictions, not rented from a bozo like me.) Global M2 repeats in 2016/7.”
Bitcoin is trading at $94,173 at the time of writing.
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