Despite the latest events involving FTX, which managed to shake the crypto markets, optimistic predictions are still present in the crypto space, according to macro guru Raoul Pal. Check out what he has to say below.
Raoul Pal releases optimistic crypto predictions
Macro expert and former Goldman Sachs executive Raoul Pal says that while negative sentiment across the crypto industry is at an all-time high, its fundamentals remain strong.
It’s been just revealed that during a new interview with co-founder and host of Impact Theory Tom Bilyeu, Pal says investor negativity is higher than he has ever seen it. He said this even including during the Great Recession and the Dot.com bubble burst.
“What we’ve got is peak freakout, because the earthquake happened and everybody’s hypersensitive. I’ve never in my career seen sentiment like this, both in crypto and the stock market. Twitter is so bad. I put up a relatively bullish chart, just marginally bullish, to say maybe the NASDAQ has priced in a big recession. I must have had 100 comments of anger, how dare I suggest [that]?”
He continued and said the following:
“There’s anger, resentment, fear at this moment of a scale that wasn’t in 2008, wasn’t in 2001. I’ve never seen anything like it.”
On the other hand, Pal says the crypto space is bullish, especially considering the mass adoption by institutional investors. He also made sure to note that big tech is increasingly intertwining with the crypto industry.
Bitcoin optimistic predictions
It’s been just revealed that the popular quantitative analyst PlanB, known for his stock-to-flow Bitcoin (BTC) model, is expressing bullish sentiment for the king coin.
In a new interview with crypto trader Benjamin Cowen, PlanB said that while the current sentiment towards crypto is bearish due to the disintegration of digital assets exchange FTX, the king crypto could hit $100,000 after the next halving.