Raoul Pal, the co-founder and CEO of Real Vision Group, a leading financial media platform, and the publisher of the Global Macro Investor, a renowned macro investment strategy service, has shared his bullish outlook on the crypto market for the second quarter of 2024.
In an interview with CoinDesk, Pal said that he expects a new wave of crypto adoption and innovation to be driven by several macro factors, including:
- The end of the Fed’s tightening cycle and the start of a new easing cycle, which will lower interest rates and increase liquidity in the global financial system.
- The resolution of the regulatory uncertainty around crypto in the U.S. and other major jurisdictions, which will provide clarity and confidence for investors and entrepreneurs.
- The emergence of Web3 as a dominant paradigm for the internet, which will unleash the potential of decentralized applications, platforms, and protocols across various sectors and industries.
- The integration of crypto into the traditional financial system, which will enable greater access and interoperability for users and institutions.
- The innovation and growth of the crypto ecosystem, which will offer new opportunities and solutions for various problems and challenges in the world.
Pal said that he believes that these factors will create a positive feedback loop that will fuel a new crypto bull market in Q2 2024, similar to what happened in 2017 and 2021. He said that he expects bitcoin to reach new all-time highs above $100,000, while other cryptocurrencies such as ether, BNB, solana, and polkadot will also see significant gains.
Pal also said that he is optimistic about the future of crypto beyond Q2 2024, as he thinks that crypto is still in its early stages of adoption and innovation. He said that he sees crypto as a “generational opportunity” that will transform the world in ways that we can’t imagine yet. He said that he is especially excited about the possibilities of Web3, which he thinks will create a more open, fair, and democratic internet for everyone.