Macro guru Raoul Pal believes that the stage is being set for Bitcoin (BTC) to explode to his massive price target.
In a video posted on Real Vision’s YouTube channel, the former Goldman Sachs executive says Bitcoin tends to rise and fall along with global liquidity cycles.
He shares a chart suggesting that global liquidity will surge over the next three months with BTC following suit.
“It’s an [absolutely] beautiful chart. It’s the GMI (Global Macro Investor) global weekly liquidity [index], so that’s both private-sector liquidity and public-sector liquidity from the large global economies. I mean it’s just perfect. It leads by 10 weeks…
So you’ve got that. You’ve got Bitcoin seasonality – [BTC] is always strong from this point onwards.”
Pal shares another chart suggesting that BTC is closely mirroring its price action from January 2023 to March 2024, when BTC jumped about 350% from $16,500 to around $74,000. According to the macro guru, conditions look ripe for a big Bitcoin surge.
“Bitcoin is also repeating what it did last year, literally perfectly. So we’ve got the macro overlay, the Fed is going to keep cutting over time, the other central banks are going to be involved. We’ve got the seasonality in place, we got the global liquidity cycle in place. I don’t know what else is left.
It has to be now.”
Looking at the Pal’s chart, he seems to predict that Bitcoin will skyrocket above $200,000 by early next year.
At time of writing, BTC is trading for $63,249.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Follow us on X, Facebook and Telegram
Generated Image: Midjourney
Read the full article here