Raoul Pal, Real Vision’s chief executive and macro-guru, says Bitcoin (BTC), is following the same pattern as nine years earlier before it ignited a parabolic surge.
The ex-Goldman Sachs executive said in a thread posted on social media platform X that the market is lining up to see crypto king soar, as it did during the previous two cycles.
Pal warns that the rise of 2016 won’t be repeated exactly, but investors should expect a similar upward push.
This was the result of doing the EXACT SAME in 2016/[18] and now… relax. Everything will be fine. It’s either a little lower, or it may be done. It will get higher with time.
Expect a rhyme, not an exact repetition. Valhalla awaits .”
Bitcoin traded at $1,000 in 2016 before rocketing up to $20,000.
Pal also keeps a close eye on the global M2 measure – an overall measurement of money supply in all economies. Pal says that global M2 has been repeating its pattern from 2016-2017. This could set up crypto king to make a big move upwards.
Why it will all be fine …(you need your own conviction and not to rent from me. The Global M2 repeats 2016/7 .”
Bitcoin currently trades for $94,173 as of the time this article was written.
Subscribe for email alerts to avoid missing a beat
___________________
Please follow us on X.
___________________
Images Can Be Found on Pixabay Creative Commons & Midjourney
The post Bitcoin Mirroring 2016, Pattern that Led to 20x rally, according to Macro Guru Raoul Pal-Here’s His Forecast may be updated as new information becomes available.
This site is for entertainment only. Click here to read more
