- Real Vision CEO Raoul Pal says that Bitcoin is at its most oversold point in history.
- According to Raoul Pal, 2023 will be a good year but 2024 will be even better, and we’ll see Bitcoin breaking new highs.
- Pal also has high hopes for the future of NFTs as the world embraces the metaverse.
Raoul Pal, in one of his Real Vision YouTube videos, has made reasonably bullish statements about the future of the cryptocurrency market in terms of long-term adoption.
Referring to the logarithmic chart, Pal says:
“We are two standard deviations oversold, we are the most oversold we’ve ever been. And we are the point of global liquidity turning.”
Raoul Paul’s logarithmic chart. Source: YouTube
What Does the Future Hold for Cryptocurrencies?
Pal is hoping that Bitcoin follows the network adoption curve and believes that each market crash is inline with his analysis.
“We'll go from 300 million users and next time we'll be at a billion users," says Pal.
According to Pal and many other market commentators, 2023 and 2024 will be years of growth and recovery for Bitcoin and other cryptocurrencies.
"I'm expecting 2023 to be a decently good year, and 2024 to be an extremely good year... inflation will go negative and therefore we'll see much more stimulus,” says Pal.
As well as being hopeful about the future for cryptocurrencies, Pal is continuously bullish regarding NFTs. Pal has always been positive about NFTs as a concept, and views the movement as a ‘nexus of culture,’ which will be ‘enormously powerful’ in regard to the next bull run.
On the Flipside
- Although there is hope and positivity surrounding the future of cryptocurrencies, there may still be further damage to come. The aftershocks of the FTX collapse are not necessarily over, according to some analysts.
Why You Should Care
Raoul Pal is well known for his analysis and generally positive outlook on the crypto market. His long-term bullish views offer hope to investors, but it’s certainly sensible to listen to both sides when making investment decisions, as we may not yet be out of the woods when it comes to further downside in the crypto market.
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