Raoul Pal is one of the most knowledgeable cryptocurrency experts in the world, and he has some exciting predictions for the market over the coming year. According to the financial wizard, the current bull run is only just getting started and is set to go wild towards the end of 2024.
Pal expects Bitcoin and other cryptocurrencies to reach astronomical new highs before the next bear market, which is likely to occur around the end of 2025.
Pal Made the Connection Between Bitcoin Cycle and Global Liquidity
People outside of the loop may view cryptocurrencies as volatile assets that fluctuate randomly. This may be true for some, but generally, Bitcoin and Ethereum’s value is dictated by macroeconomic factors that can be tracked and used to build trend following systems.
Pal identified global liquidity as the primary driver of Bitcoin price, and there’s an extremely strong correlation between the two measures throughout history.
As global liquidity rises thanks to a range of factors including quantitative easing, the Bitcoin price will also increase. All other cryptocurrencies are highly correlated to Bitcoin so, as the big daddy goes up, the others do as well.
Pal has also compared the current cycle to past bull runs and has pointed out that the recent all-time high breakout was just a mini pump before the whole market went bananas in late 2024. Pal is extremely bullish and thinks that Bitcoin could reach highs in the region of $300,000.
Cryptocurrencies Getting Mainstream Attention
The latest record-breaking Bitcoin run has brought the cryptocurrency back into the public eye, and it’s getting mainstream attention once again. It’s clear that the world is getting ready for the introduction of Web3, which will make the online world more decentralized.
There are some industries that are well ahead of the curve and have integrated cryptocurrencies already. For instance, blockchain technology has been highly advantageous in supply chain management and cybersecurity. The online casino industry has also made sure to get ahead of the trend and offer crypto payments.
Some of the leading gambling sites in the business, such as Jackpot City, accept crypto alongside fiat currencies. The site accepts Bitcoin, Ethereum, Litecoin, and Tether, among others.
The free spins casino bonuses on offer at the site are available to players regardless of how they choose to top up their accounts, and there are also deposit match promotions available for new players.
Altcoin Season Will Come at the End of the Bull Run
Cryptocurrency enthusiasts are always on the hunt for major gains, and it’s useful to know when the biggest pumps could occur. Due to Bitcoin’s high market cap, it probably won’t achieve more than 5x in this cycle. However, altcoins and meme coins have the potential to offer massive returns later on.
When the bull market gains mass mainstream attention, retail investors flood in and want to get a piece of the action. Because they’ve seen that Bitcoin and Ethereum have already risen in price dramatically, they look down the list for smaller coins that they believe could be the next big thing.
This is referred to as altcoin season, and it’s likely to last for a month or two at the end of the cycle. When this occurs, it’s a sign to start preparing to cut positions and prepare for the next bear market.
Rather than hope for the best with the crypto markets and guess what’s going to happen, it’s best to listen to the experts. Pal has been in the game for a while and knows what he’s doing, so it’s worth following his advice and preparing for the next big crypto pump.
