Raul Pal: Bitcoin price is developing according to the script of 2017

The founder of the Global Macro Investor Foundation and Real Vision, Raoul Pal, said that the current cycle of changes in the price of bitcoin is developing according to the scenario similar to the cycle in 2017 – then the first cryptocurrency showed growth, and then a swift rally began.

According to the entrepreneur, the current bull cycle has every chance to last until the second quarter of 2026, despite tension in world markets:

“The macroeconomic data and the weakening of the US dollar indicates that the current bull trend is not completed, despite some correction. All this is terribly reminiscent of 2017. It seems that the entire cycle has moved, because the interest rates were not adjusted, and the dollar moved in the side trend for some time. ”

To continue growth, the market must attract as many large players as possible. The funds of the Arab countries that are optimistic about cryptocurrencies can become one of them, the businessman believes. According to him, Saudi Arabia, Qatar and Bahrain are aimed at creating a state blockchain infrastructure and no longer perceived Bitcoin as a speculative investment tool.

Short -term subsidence of the main crypto acting does not have a strong influence on the market – this indicates the growing maturity of the market and the formation of a strong basis from it due to the arrival of public companies and rich funds, the founder of Global Macro Investor and Real Vision summed up.

Earlier, Raul Palle said that the growing US public debt, problems with demography and printing money by the Central Bank pose a threat to the depreciation of fiat currencies, turning bitcoin into an effective tool for hedging of inflation risks.

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