Real Vision CEO Suggests BTC Has Found Its Bottom

Raoul Pal, Founder and CEO of Real Vision and Global Macro Investor, believes the crypto market has “found its bottom” and further upward momentum is likely.

The CEO of Real Vision made his comments during a interview with Layah Heilpurn, his outlook coming at a time when Bitcoin and the rest of the crypto are looking to bounce back from a series of further lows over the past few days.

Bitcoin, which traded near $39,000 this week, has recouped some of the losses to currently hover around $41,200. The BTC-USD pair is up 4% in the past 24 hours, while the crypto’s market capitalization has rebounded 3%.

Ethereum (ETH), Cardano (ADA), BNB (BNB) XRP (XRP) and Solana (SOL) have all added more than 3% in the last 24 hours. Bitcoin Cash (BCH), Litecoin (LTC), and Avalanche (AVAX) are among the biggest crypto gainers of the day so far.

The Crypto Didn’t Make a New Low

According to Pal, the crypto market has been affected in recent months by various macroeconomic developments. However, no new lows have been reached since the last low of 2021 despite several likely negative triggers.

This is a scenario that suggests crypto resilience and could indicate a bottom that is already present, although no one can predict the market with certainty.

The balance of probabilities is that we hit the low last year, we retested the low this year and I think the low is there “, he noted.

He thinks the crypto has seen “everything” that could have helped push prices to a new low. This has not happened so far. He told Heilpurn:

» I think we started a war, 8.5% inflation, the Fed raising interest rates on crypto, we started the Chinese ban, we threw so much at it and [pourtant] it did not make a new low. Usually this is usually a signal that the market has bottomed out . »

A slowing economy could trigger further bullish action

Regarding new catalysts for crypto prices, Pal thinks a slowdown in economic growth would top the list. This is a scenario that will trigger buying pressure on assets that “ tend to outperform in low growth environments “.

He says a change in the economic landscape could see” people fear inflation less and begin to fear growth more “. .

On the stock market, Cathie Wood’s ARKK is a good example.

Pal also spoke about Bitcoin’s four-year cycle narrative, noting that these are likely outdated given the size of the market today compared to the early years. The cycle could still have an impact, but it could be on a smaller scale, as further adoption reduces wild volatility, he added.

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Real Vision CEO Suggests BTC Has Found Its Bottom

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