Raoul Pal, CEO and founder of financial media Real Vision, predicted that Bitcoin will bottom in the next five weeks, and even threatened that he would start bottom-hunting as soon as next week and buy cryptocurrencies. In addition, he compared the current bear market to the crypto winter of 2014, while suggesting that the latest market carnage could be a good opportunity for investors to profit 10 times in the future, if the timing is right.
Raoul Pal was a hedge fund manager at Goldman Sachs in the past, earning enough to retire at 36. In recent years, he has repeatedly published financial disaster predictions, which have been fulfilled many times. Among them, the most well-known one is that he accurately predicted the financial crisis in 2008, so he was called “Mr. Disaster” by foreign media.
As the inflation situation becomes more severe and the economic recession is gradually approaching, Raoul Pal pointed out on Twitter a few days ago that as a macro investor, he expects that in response to high inflation and rising prices, the US Federal Reserve (Fed). ) will cut interest rates again next year and the next year, which is expected to substantially recover global assets within 12 to 18 months.
According to an analysis of Bitcoin’s weekly Relative Strength Index (RSI) by Raoul Pal, which is currently at 31 and the lowest level at 28, he expects Bitcoin to bottom in the next 5 weeks.
The RSI index is a momentum indicator that analyzes how overbought or oversold an asset is based on the magnitude of recent price changes.
Raoul Pal also mentioned that he may start buying cryptocurrencies next week, and admitted that it is almost impossible to determine exactly when the market bottoms.
Raoul Pal continued to point out that the current market situation reminded him of the experience of “Bitcoin fell 82% in 2014 and then rose 10 times”, which also made him more convinced that cryptocurrency is a long-term investment and is not suitable for use Come to short-term frequent buying and selling.
Top Market Updates and News Portals:
Blockke is committed to exploring and sorting out various content related to blockchain technology, as long as there is cooperation and/or suggestion related to the block chain or the blockke website, we are very welcome.Please email to [email protected] contact us.