An important former Goldman Sachs executive has revealed a massive Bitcoin prediction. Check out the latest reports about this below.

New BTC price prediction is out

Raoul Pal, a former executive at Goldman Sachs, is optimistic about the prospects of the cryptocurrency market.

Despite the significant gains made by digital assets in 2021, Pal believes that the bull market cycle has only just begun and could last for several years.

He predicts that Bitcoin, the most popular cryptocurrency, could potentially reach a high of $1 million by 2025. Pal shared his views with the 22,000 subscribers of his YouTube channel.

“Here’s the chart, the long-term chart of Bitcoin since 2013. Some people use this chart longer term. I used to, but the early cycle was so kind of ridiculous that it screws up the chart. Other than that, it’s actually a perfect log (logarithmic) trend.

And as you know, we think the business cycle peaks sometime in the end of 2025 and that would suggest a crazy sort of target that could get somewhere between half a million and a million dollars in Bitcoin. Do I expect that? Probably not, but who the hell knows right?”

Pal believes that the current bull market cycle for digital assets is similar to the 2016-2017 cycle when a large amount of liquidity caused a surge in prices.

He further states that even though Bitcoin and other altcoins experienced significant gains towards the end of 2023, the current bull market cycle is still in its early stages.

“These cycles can be crazy and this one feels more like the 2016-17 cycle than it does the prior cycle. And that cycle didn’t have a lot of central bank printing, not in the US. But central bank balance sheets were rising. We saw 20% growth of liquidity. And what happened was crypto absolutely exploded.”

He continued and explained:

“I kind of feel like that’s the case. I don’t focus on the end target. I focus on the structure. But I’m just showing you the magnitude of the opportunity. And we’re still at one standard deviation oversold. It’s all to play for. We’ve barely started.”

Bitcoin is trading for $42,482 at time of writing.

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