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‘Enormous wall of money’ will send Bitcoin to $1M in 2025 — Raoul Pal

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Bitcoin (BTC) hitting $1 million by 2025 is “about right,” Real Vision founder and CEO Raoul Pal has confirmed.

In an interview with Stansberry Research last week, Pal, famous for his bullish stance on Bitcoin, said an “enormous wall of money” would flow into the cryptocurrency over the next few years.

Pal: Bitcoin in line for “enormous” capital inflows

“I think that’s about right, whether it’s five years, six years,” he said when asked about the $1 million target. 

“We’re going to go through two of these halving cycles, and just from what I know from all of the institutions, all of the people I speak to, there is an enormous wall of money coming into this. It’s an enormous wall of money, just the pipes aren’t there to allow people to do it yet, and that’s coming, but it’s on everyone’s radar screen and there are a lot of smart people working on it[.]”

Bitcoin’s current halving cycle began in May 2020 and will last approximately four years. Beyond Pal, a whole sphere of analytics looks at the impact of halvings, which cut the supply of new Bitcoins available per block by 50% and make consistently bullish predictions.

Just this week, PlanB, creator of the stock-to-flow family of Bitcoin price models, confirmed that BTC/USD was on track to increase by an order of magnitude after May.

In terms of the “wall of money,” meanwhile, corporate Bitcoin buy-ins continue to surface this month, Cointelegraph reported.

“I think it’s going to be not because the world’s collapsing; it’s because there’s going to be adoption by the real large pools of capital,” Pal summarized.

“Why would I have a gold allocation?”

Pal also revealed that he would be looking to sell his gold investments and convert them to Bitcoin due to the latter’s superior performance.

Despite not “disliking” gold and remaining invested in both assets for the time being, the future was unequivocally skewed in Bitcoin’s favor, he said.

“…When you get to the macro opportunity, when it’s all happening — Bitcoin starts breaking out of these patterns that it’s been forming, it is going to massively outperform gold, I’m 100% sure of that. In which case why would I have a gold allocation?”

Bitcoin vs. gold 6-month chart. Source: Skew

Here, too, Pal is not alone. As Cointelegraph noted, analysts including statistician Willy Woo have forecast Bitcoin breaking away from traditional asset correlation to forge its own path. The timeframe is unclear, Woo last month nonetheless anticipating it happening “soon.”

According to a new report from crypto index fund provider Stack Funds this week, meanwhile, support is in place for BTC/USD to run to $15,000 after November’s U.S. elections.



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Bitcoin sheds $2.5K amid warnings of a repeat BTC price dip

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Bitcoin (BTC) fell precipitously on June 25 after a rejection above $35,000 sparked a rout toward familiar support.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Bitcoin heads back towards $30,000

Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it shed over $2,500 during trading on Friday.

The pair had hit local highs of $35,400 overnight before abruptly reversing trajectory to fall below $33,000.

For popular trader Crypto Ed, the situation was similar to events last month after BTC/USD first bounced at $30,000 support.

“Current, sluggish PA reminds me of a similar situation a few weeks ago….. I thought we did a 1-5 and started next cycle but after 1 more top, BTC made a deeper correction,” he commented on an accompanying chart.

“Thinking we might get the same here.”

BTC/USD scenario. Source: Crypto Ed/ Twitter

That would place Bitcoin in a position to rechallenge the $20,000 corridor which it briefly broke into several days ago.

As Cointelegraph reported, the mood among many traders remains skewed to the cautious side after BTC/USD failed to reach a $37,000 target before its latest rejection. The possibility of a new lower low is thus far from off the cards.

BTC buy interest remains

Signs of underlying confidence nonetheless remain.

Related: Bulls on parade: Galaxy Digital and Alameda pundits tip market recovery

On Friday, it was again El Salvador and its Bitcoin law in the spotlight after president Nayib Bukele announced that every eligible citizen would receive $30 free in BTC for downloading its wallet.

Institutional bullishness meanwhile came in the form of the Purpose Bitcoin ETF, which continued to add to its assets under management throughout the price dip.

Meanwhile, altcoins were flat, with no single asset managing to break out of established trading zones.