According to macro investor and Real Vision CEO Raoul Pal, the next bull market in the crypto industry is expected to begin in the second quarter of 2024, coinciding with the Bitcoin halving event. While there is considerable hype surrounding the halving, Pal believes that macro factors will ultimately drive the market’s upward trend.
Pal points out that each Bitcoin halving has occurred in a similar macroeconomic environment characterized by monetary expansion and low interest rates. He believes that these macro factors are actually the dominant force behind market movements, with the halving merely serving as a false narrative that still holds influence.
Looking ahead to next year, Pal identifies several catalysts that favor the growth of the crypto industry. These include potential interest rate cuts by central banks and potential fiscal stimulus efforts leading up to the United States presidential election. These factors, combined with the upcoming halving, could create a conducive environment for the industry’s expansion.
When it comes to predicting price targets, Pal prefers to refrain from making specific projections. He explains that making such predictions often attracts criticism when they are not fulfilled. However, based on past performance, Pal believes that Bitcoin has the potential to double or even triple its previous all-time highs.
For those interested in learning more about preparing for the next crypto bull market, Pal recommends watching the full interview with him on Cointelegraph’s YouTube channel. By staying informed and keeping up with industry insights, investors can position themselves for success in the upcoming market cycle.
In conclusion, Raoul Pal anticipates that the next bull market in the crypto industry will commence in the second quarter of 2024, coinciding with the Bitcoin halving event. While the halving receives significant attention, Pal emphasizes that macro factors such as monetary expansion and low interest rates play a more pivotal role in driving market movements. In addition, he highlights potential catalysts for the industry’s growth, including central bank actions and fiscal stimulus efforts. Although Pal refrains from providing specific price targets, he acknowledges the potential for Bitcoin to reach new all-time highs. To navigate this upcoming market cycle effectively, Pal encourages individuals to stay informed and seek valuable insights from reputable sources like Cointelegraph’s YouTube channel.