– The next crypto bull market is expected to begin in Q2 2024, coinciding with the Bitcoin halving event, according to Raoul Pal, macro investor and Real Vision CEO.
– Pal believes that while the halving event receives a lot of hype, macro factors will ultimately play a bigger role in driving the next uptrend.
– The Bitcoin halving cycle has historically occurred in a similar macroeconomic environment characterized by monetary expansion and low interest rates.
– Pal states that macroeconomic conditions are the dominant factor, and the halving event is a false narrative that still holds weight.
– Central banks cutting interest rates and potential fiscal stimulus preceding the US presidential election are among the main catalysts favoring the crypto market next year.
– Pal refrains from making specific price predictions to avoid criticism but suggests that Bitcoin could potentially double or triple its previous all-time highs based on past performance.
– To learn more about preparing for the upcoming crypto bull market, watch the full interview with Pal on Cointelegraph’s YouTube channel.
The next crypto bull market is likely to kick off in Q2 2024, when the Bitcoin (BTC) halving is set to take place, says macro investor and Real Vision CEO Raoul Pal.
He is convinced that despite the hype surrounding the halving, macro factors will play the leading role in sparking the next uptrend.
According to Pal, the Bitcoin halving cycle coincides with the macro cycle, which means every halving so far has taken place in a similar macroeconomic environment: monetary expansion and low interest rates.
“Macro is actually the dominant factor, and the halving is a false narrative, but it doesn’t matter because it still works,” Pal said in an interview with coinpostman.
Among the main catalysts favoring crypto next year are central banks cutting interest rates and potential fiscal stimulus that could precede the United States presidential election.
Regarding price targets, Pal wants to avoid making predictions given that “you get beat over the head by people” for not getting them right.
Still, looking at past performance, Bitcoin could double or triple its latest all-time highs, Pal believes.