Macro investor Raoul Pal is predicting “life-changing wealth creation” in the crypto space over the next few years.
“This crypto opportunity is literally the perfect macro opportunity of a lifetime,” he said Thursday. “It’s a very high probabilistic outcome that the next two years make life-changing money.”
Younger investors, particularly those burdened with student debt or unable to afford property, have a unique chance to improve their financial standing, he says.
Pal’s advice:
Avoiding FOMO (fear of missing out)
Steering clear of leverage
Focus on major assets like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Solana (CRYPTO: SOL)
Be wary of exposing your portfolio to high-risk ventures.
Bitcoin ETFs — ‘A Pivotal Moment’: Pal described the Bitcoin ETF launch as a pivotal moment, akin to a “go rodeo” scenario, characterized by chaos and humor, typical of the crypto world.
“It’s a total shitshow, nobody knows what’s going on. Everybody’s laughing. Everybody’s memeing the whole thing,” he said in an interview with YouTuber Jamie Tree, capturing the essence of the crypto community’s response to the event.
This launch, according to Pal, signified a major shift where traditional financial entities are stepping into a domain previously dominated by crypto enthusiasts.
Despite the high trading volumes witnessed during the launch, Pal pointed out an unexpected market response.
Many hedge funds had been buying into the Grayscale Bitcoin Trust (OTC: GBTC) at a discount and hedging their bets, he says. But with the ETF’s introduction, these dynamics shifted, leading to a sell-off in Bitcoin.
“So there’s little selling of Bitcoin that was coming out of that. So there might have been $1 billion of selling that came out of that,” Pal adds.
Discussing future inflows, Pal projects a bullish scenario for the Bitcoin ETF, estimating around 50 billion dollars in inflows for the year.
Read Also: Binance’s Market Share Among Crypto Exchanges Slides As OKX, ByBit Chip Away At Its Dominance
Ethereum ETFs: Regarding Ethereum ETFs, he gave a 70-75% chance of approval by August, citing SEC Chairman Gary Gensler’s likely strategy to integrate major cryptocurrencies like Ethereum and Bitcoin into the traditional financial system.
Pal wasn’t taken aback by Ethereum’s surge following the Bitcoin ETF…
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