It’s been just revealed that the macro guru Raoul Pal said that the whole crypto market would explode and double its size.
The former Goldman Sachs exec said that the crypto space, which broke the $1.8 trillion market-level cap, means that there is a new surge that will catapult the crypto markets to massive heights in the upcoming months.
Check out the post that he shared on Twitter:
The market cap of the entire digital asset space feels like the break of $1.8trn is kind of a big deal. The chart pattern suggests acceleration lies ahead on that break. My guess is the whole space doubles in next 2 to 3 months. Let see! pic.twitter.com/125lTVAkNH
— Raoul Pal (@RaoulGMI) March 30, 2021
Massive amounts of money to pour into the crypto space
During an episode of What Bitcoin Did with Peter McCormack, Pal said that a lot of money is coming in once Bitcoin (BTC) hits the $1 trillion market cap.
“What we’re seeing is frontrunning the size of the market cap because at $1 trillion comes a serious asset. At $10 trillion, it’s gold in terms of asset size, so that deepens and makes a broader market and allows more participants into it.”
He also said what a larger crypto market means for investors.
“For institutions, it is what is the adoption, what is the regulation, what is the market cap, so the more it goes up, the more the market cap makes it available for them to purchase, so that is a much bigger deal than price,” he explained.
He said that “Price is a function of that growing market cap, but if you’re Blackrock, you would not have looked at it until it got to this, you know, near the trillion-dollar market cap, and that’s the thing.”
At the moment of writing this article, BTC is trading in the red, and the coin is priced at $58,919.22.