Predicting the ‘path of most agony’ in December, by Raoul Pal. Pal believes that the impending release of Ethereum 2.0, as well as the introduction of an ETH ETF. Would result in an extension of the cryptocurrency market cycle in the coming months.
As the founder of Real Vision and a former hedge fund manager at Goldman Sachs. Raoul Pal is confident that the crypto market cycle will not come to an end this year. Despite the predictions of social media gurus.
Although it is possible that things will become a little hairy down the line, this is not guaranteed.
Pal, in an interview with Real Vision on Wednesday morning. Predicted that the current bull run will not end in December, as it did brilliantly in 2015 and 2017. But will instead stretch until some time between March and June, as it did in 2015 and 2017.
A double crash is possible within six months, according to Pal, who predicts that the Bitcoin (BTC), Ether (ETH). And altcoin markets will “select the route of least resistance.”
In my opinion, a sell-off will be followed by a rip-off since it is the path of least resistance. And markets have a tendency to take the path of least resistance.
On-chain data source Ecoinometrics believes that if the current cycle follows the predicting same trajectory. As the previous one, the next BTC price peak might reach $253,800. If the current cycle continues, according to a study paper released on Thursday by Cointelegraph.
Pal has gotten more positive on Ether in 2021
The year 2021 has seen Pal become increasingly positive on Ether. Praising it as “the greatest trade” in August of that year. He believes that the imminent introduction of Ethereum 2.0. As well as the probable launch of an Ether exchange-traded fund in the first half of 2022. Would serve as catalysts for a major surge, allowing more people. To have access to the cryptocurrency market and luring large institutions.
As a co-founder of Real Vision, a financial media company that provides in-depth video interviews. And research articles from the world’s greatest investors, Raoul Pal has a diverse range of experience and expertise. Raoul was the founder and CEO of a successful global macro hedge fund prior to founding Real Vision.
In general, institutional investors allocate their assets in quarters. “I predict that the January to March. Quarter of next year will witness a significant inflow,” says the analyst.
“Everyone is putting their ETH on the line. The result is an extraordinary supply and demand imbalance in ETH, with only around 11 percent of the total ETH supply. Currently available for purchase or exchange. “Everything else has been secured in preparation for this stake,” he explained.
“That implies we’re likely predicting to have an extended cycle, and I believe it will run. Into between March and June, which would mark the beginning of a new phase.”
Bitcoin was launched in 2008 and, so far, has moved in market cycles of around four years. Around the halving, which is when the mining block reward is cut in half. Resulting in a reduction in the total amount of Bitcoin available for circulation.
The first two halvings took place in 2012 and 2016, with the last halves taking place in May 2020.