Like other markets, Bitcoin has been hard over the past few weeks. From the $10,500 high established in February, BTC has fallen by 41%, now trading at $6,200 as of the time of this article’s writing.
Despite this downturn, a prominent macro analyst expects the cryptocurrency to soon rally above its previous all-time high.
BTC Price to Surmount $20,000 In 18 Months
In an interview published on Saturday, Raoul Pal — ex-head of Goldman Sachs’ equity derivatives business and the current CEO of Goldman Sachs — remarked that he thinks the price of Bitcoin will rally to its $20,000 all-time high within the coming 12 to 18 months, despite the current crash seen in global markets.
This interview was released shortly after he remarked that he is more bullish than ever on Bitcoin, remarking that there’s a possibility that “all trust” in the “entire system” has been lost. This was presumably in reference to the world’s response to the outbreak of COVID-19, which has revealed clear insecurities in the fabric of society, from politics to finance.
The Only Asset He Would Own For Next Decade: Bitcoin
Pal isn’t only bullish on Bitcoin from a one to two-year outlook.
Case in point, in a to-the-point comment that he shared late January, the former Goldman exec said that he thinks Bitcoin would be the only asset he would hold for the next 10 years (if he had to choose one) because it “encapsulates all of larger macro views,” referencing previous statements he made suggesting the world will turn to an alternative system of finance that will be digital.
If I could only own one asset for the next 10 years, it would be bitcoin $BTC It encapsulates all of my larger macro views and feels like the point on the far horizon we are headed to, in some shape or form. Yes, like gold too and many other things but BTC risk/reward beats all.
— Raoul Pal (@RaoulGMI) January 31, 2020
He added that from a pure risk-reward analysis perspective, Bitcoin “beats all.”
The former Goldman Sachs executive previously told prominent industry podcaster Stephan Livera that all popular asset classes are extremely expensive, except for Bitcoin and cryptocurrency.
Equities, he explained, are roughly at all-time highs, and are pushing extreme valuations for relatively little profit and potential.
Related Reading: Bitcoin Printed This Exact Pattern Prior to 2019’s Explosion to $14,000. It’s Back
Bonds aren’t much better, Pal opines, drawing attention to the “virtually zero yields” — and negative yields in some cases — that debt deemed safe provides.
Even real estate isn’t attractive, with the prominent investor calling this asset class “unaffordable”, adding that it makes even less sense to purchase homes because they’re trading near all-time highs.
Hence, Bitcoin.
Featured Image from Shutterstock origin »
Bitcoin mined has crossed the 19. 96 million mark, meaning over 95% of Bitcoin in existence has been issued. The largest cryptocurrency could soon experience a scarcity, amidst fast paced BTC withdrawals from exchanges.
BTC cumulative net taker volume was back in the positive.
BTC/USDT Liquidation Map from Binance revealed a significant reduction in liquidation events as the price stabilizes.
Bitcoin [BTC] The post Predicting Bitcoin's next move: Is a short-term rally in sight? appeared first on AMBCrypto.
Many were left stunned after seeing Bitcoin (BTC) achieve milestone upon milestone but witnessing altcoins like Ethereum (ETH), Ripple (XRP), and Cardano (ADA) fail to pump by a meaningful amount. Now, after three straight months of Bitcoin (BTC) dominance, it seems the altcoin market is ready to push back with a major inflow of investments [...]
After a period of heightened volatility due to a broader market crash, Bitcoin appears to be regaining an upside trajectory as prices continue to hold above the $102,000 mark. BTC may be demonstrating the potential for a notable rebound, but negative sentiment persists among large Bitcoin holders.
Bitcoin holder profitability offered key insights into market direction and investor sentiment.
Long-term holders maintained stability, while short-term traders and new investors showed volatilThe post Bitcoin: What THIS group's moves reveal about BTC's road ahead appeared first on AMBCrypto.
Bitcoin HODLers exited the cycle after cashing in on huge gains.
Is the dawn of a ‘new cycle’ around, or are we witnessing the end?
Bitcoin[BTC] kicked off November at $68K, but just twoThe post Bitcoin profit-taking plummets 93% since December – What’s next for BTC? appeared first on AMBCrypto.
BTC's STH MVRV seemed to be at an inflection point that could fuel or dump BTC
Options traders increased hedging activity ahead of Trump’s inauguration
Bitcoin [BTC] is at a crossroads aheThe post How Trump's inauguration could trigger a Bitcoin rally OR a crash appeared first on AMBCrypto.
MicroStrategy, the major enterprise software company that has evolved into a Bitcoin (BTC) investment platform, has captured attention once again with its latest purchase of $101 million in BTC. The company, led by chairman and co-founder Michael Saylor, has committed to utilizing perpetual preferred stock, common shares, and debt to fuel its ongoing Bitcoin purchasing strategy.
El Salvador, the pioneering nation that made Bitcoin legal tender in 2021, has surpassed 6,000 BTC in its treasury, valued at $561.3 million as of the latest update. This milestone represents not only a strategic accumulation effort but also a bold economic experiment under President Nayib Bukele’s leadership. With a 105% unrealised return on its […]
Bitcoin's exchanges reserves saw an upswing with +20k BTC inflows
Bitcoin's netflow turned positive after weeks of decline
Since hitting an all-time high of $108k on the charts, Bitcoin [BTCThe post Bitcoin's exchange reserve rises as netflows turn positive - Impact on BTC? appeared first on AMBCrypto.
Bitcoin’s derivatives metrics looked optimistic.
But selling pressure remained dominant in the market.
Bitcoin [BTC] has been struggling with its price action as it has failed to satisThe post Market panic hits Bitcoin: Is a year-end BTC rally still on the cards? appeared first on AMBCrypto.
El Salvador continues to showcase its unwavering commitment to Bitcoin, doubling down on its cryptocurrency strategy despite stringent restrictions imposed by the International Monetary Fund (IMF). On 19 December 2024, the country purchased an additional 11 Bitcoin (BTC), valued at over $1 million, pushing its total reserves to nearly 6,000 BTC. This comes on the […]
Spot Bitcoin ETFs absorbed 4,349.7 BTC, far surpassing miner supply this week.
Institutional demand tightens liquidity, amplifying Bitcoin’s price sensitivity and volatility risks.
InstituThe post Bitcoin ETFs consume more BTC than miners produce: What this shift means appeared first on AMBCrypto.
BTC has dropped into a bear trend, according to its RSI.
Despite the drop, there has been an increase in the supply to whales.
Bitcoin [BTC] is stabilizing at around $96,000 after a minor reThe post Is Bitcoin's retreat to $96,000 a setup for another rally? appeared first on AMBCrypto.
Bitcoin's liquidation heatmap highlighted a strong resistance level at $99k
Market indicators and metrics were ambiguous about the buying/selling pressure
Bitcoin [BTC] has been struggling tThe post Bitcoin - Here's the timeline for when BTC might go past $100K again appeared first on AMBCrypto.
Bitcoin’s price action lately has interested analysts, as it weathered a broader market downturn with resilience. Per CoinGecko, Bitcoin (BTC) traded at $102,246, reflecting a 2. 49% decline in the past 24 hours but maintaining a 1.
BTC topped $107K amid increased optimism of a likely US national reserve.
Kraken whales placed sell orders at $150K-$160K price targets.
On the 16th of December, Bitcoin topped $107K on The post Bitcoin: If Kraken whales are to be believed, THIS is BTC's next target appeared first on AMBCrypto.
The general cryptocurrency community is brewing with excitement and optimism following Bitcoin’s rally to a new all-time high on Monday. Despite the significant price growth, there are speculations that the uptrend may not be ending anytime soon, suggesting BTC’s potential for more increases to higher levels or milestones. Next Big Milestone For Bitcoin On The […]
Co-founder and Chief Executive Officer (CEO) of Real Vision, Raoul Pal has expressed optimism about the future of cryptocurrencies in the financial sector. The renowned financial expert has predicted that the crypto industry would experience massive adoption rates, surpassing even that of the internet.
Real Vision CEO and co-founder has predicted that Ethereum is set to begin a 300% rally. Pal has always been a staunch advocate of the cryptocurrency and numerous times has he made his stance on the digital asset clear.
Shares of tech giants Microsoft and Apple fell 4. 71 percent and 6. 89 percent, respectively, in October. MicroStrategy’s (MSTR) stock rose 11. 3 percent over the same period and has climbed alongside the company’s decision to move 75 percent of its cash reserves into leading cryptocurrency bitcoin.
If it seems like more investors are jumping on the bitcoin train with the price now trading above $13,000, it’s probably because they are. The BTC price touched a new high for the year at $13,500 on Oct.
Cryptocurrency markets have been fluctuating quite a bit lately, as bitcoin and a number of crypto assets have been testing new resistance levels. The market valuation of the entire crypto-economy is hovering around $360 billion as a decent portion of the top twenty digital assets have gained 1-15% in the last 24 hours.
It’s been an explosive past 24 hours for Bitcoin and the cryptocurrency market. After building bullish momentum for the past seven weeks, BTC finally broke past $10,000 today, posting a more than 170% gain since the $3,700 lows of March.