It’s been revealed that the future for Bitcoin, crypto, and stocks is looking bright. Check out the latest reports coming from the famous Raoul Pal.
Macro guru makes optimistic financial predictions
It’s been just reported that the former Goldman Sachs executive Raoul Pal says that risk-on assets like crypto and equities are set to go for a run. This is bound to happen as macroeconomic conditions become more favorable.
In a new edition of the Global Macro Investor newsletter, Pal says that Bitcoin (BTC) is mostly driven by the available money supply (Global M2) in the financial system across the world.
“Paul Tudor Jones once said, when the money taps are back on you want to back the fastest horse. In the case of 2020/2021 he was referring to Bitcoin. This time, it will be crypto overall…”
He continued and explained the following:
“Here’s a chart of BTC vs Global M2. Notice anything strange? Yes, we can’t scale the top of the chart because when M2 goes up considerably, Bitcoin goes EXPONENTIAL.”
Pal also said that risk assets like stocks and crypto still stand to benefit even Federal Reserve continues to raise interest rates.
“Higher rates are a red herring. Many will disagree but, in my view, it’s a false narrative. The fact is that higher rates are not a hurdle for tech or the broader market, and this is why I really don’t care if rates stay at let’s say 3% (which I don’t think they do).”
Make sure to check out the original article shared by the online publication the Daily Hodl in order to learn more details about this.
At the moment of writing this article, BTC is trading in the red and the king coin is priced at $16,794. Stay tuned for more news and make sure to keep an eye on the crypto market.