According to macro investor and Real Vision CEO Raoul Pal, the next crypto bull market is highly likely to be kickstarted in the second quarter of 2024, coinciding with the Bitcoin (BTC) halving. Despite the buzz surrounding the halving event, Pal believes that macroeconomic factors will play a significant role in driving the next upward trend in the crypto market.
Pal highlights that each Bitcoin halving in history has occurred within a similar macroeconomic environment, characterized by monetary expansion and low interest rates. Therefore, he considers macro factors to be the dominant force behind market movements, while the halving narrative, although false, still manages to have an impact.
Looking ahead to next year, Pal identifies central banks cutting interest rates and potential fiscal stimulus in anticipation of the United States presidential election as the main catalysts favoring the growth of cryptocurrencies. These factors can create a favorable environment for the crypto market to flourish.
When it comes to making price predictions, Pal is hesitant and acknowledges the criticism faced by those who get them wrong. However, based on past performance, he believes that Bitcoin has the potential to double or even triple its previous all-time highs.
For those interested in learning more about how to prepare for the upcoming crypto bull market, Pal’s full interview with Cointelegraph provides valuable insights. Subscribing to Cointelegraph’s YouTube channel can also be beneficial to stay updated on the latest developments in the crypto space.
In conclusion, Raoul Pal’s analysis suggests that the next crypto bull market is likely to commence in Q2 2024, coinciding with the Bitcoin halving event. While the halving narrative may not be the primary driving force, macroeconomic factors such as monetary expansion and low interest rates are expected to play a significant role. With central banks cutting interest rates and potential fiscal stimulus anticipated, the crypto market could experience substantial growth. While Pal refrains from making specific price predictions, Bitcoin has the potential to surpass its previous all-time highs according to historical performance.