Bitcoin All Set For a Real Run To Hit All Time Highs – Raoul Pal Predicts Timeline
Mustafa Mulla14 Jan 20242 min read
Raoul Pal, a veteran figure in the financial industry and the CEO of Real Vision, has delved into the intricate landscape of cryptocurrency during a recent ask-me-anything (AMA) session. Pal, renowned for his macroeconomic insights, has outlined a roadmap for the digital asset space, emphasizing an impending short-term volatility phase before what he terms the ‘real run’ to new all-time highs.
ETF Approvals and Bitcoin Halving as Game-Changers
Pal identifies two key catalysts pushing the crypto industry into new territory. First, the recent approval for Bitcoin exchange-traded funds (ETFs), and second, the upcoming Bitcoin halving in April. Pal mentions the increase in demand because of ETF preorders and predicts a likely influx of $1 to $2 billion. The big question here is, with this surge in demand, who will end up being the buyer in this situation?
Recognizing the inevitable short-term market turbulence, Pal pragmatically addresses the potential for 30%-35% pullbacks, a common occurrence at the 0.618 Fibonacci level during the initial phase of a bull run. This becomes especially relevant as the market adjusts to the heightened demand.
Meanwhile, the visionary strategist explains that such corrections are a natural part of the process, acting as a clearing mechanism for leverage. This, in turn, sets the stage for what Pal envisions as the ‘real run,’ the anticipated ascent to all-time highs and beyond.
Short-Term ‘Chop’ Before the ‘Real Run’
Pal offers an intriguing timeline, suggesting that the much-anticipated ‘real run’ might commence around the time of the Bitcoin halving event. With an estimated month or two of potential choppy waters, Pal positions the upcoming period as a critical juncture for investors, anticipating that this phase will mark the beginning of the long-awaited surge to new heights.
As of now, Bitcoin stands at $42,753, reflecting a fractional decrease over the last 24 hours. However, the forthcoming weeks promise to be an intriguing chapter as the market navigates the anticipated short-term volatility on its journey towards what Pal envisions as a ‘real run’ to unprecedented highs.
