Former Goldman Sachs CEO and macro investor Raul Pal noted the favorable prospects for the digital asset market on the horizon of 12-18 months. He referred to the formation of prerequisites for changing the situation in the economy.
The expert recalled that the markets reflect the future, not the situation in real time. In his opinion, the recession in the economy, which has become often talked about on Twitter, has already been discounted in quotes.
He compared the performance of the NASDAQ index with the ISM business sentiment indicator. According to the calculations of the specialist, the value of the first corresponds to the levels of GDP reduction by 2%. According to the latest data, ISM remained unchanged in September, amounting to 52.8 points, which is higher than the pre-recession level of 48 points.
Pal predicted negative inflation over the next 18 months.
“If we look a year ahead, the recession is behind us, rates are lower and inflation is easing. This is a good combination for risky assets and cryptocurrencies. The latter bottomed out in June. Bitcoin went through a retest of lows two days ago. That’s how I perceive it.” — said the expert.
The macro investor cited a buy signal for DeMark indicators. For Ethereum, it worked earlier, the specialist added.
Recall that in July, Pal pointed to the preparation of the cryptocurrency market for a trend reversal upwards in light of the growth in the money supply.
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Former Goldman Sachs CEO and macro investor Raul Pal noted the favorable prospects for the digital asset market on the horizon of 12-18 months. He referred to the formation of prerequisites for changing the situation in the economy.
The expert recalled that the markets reflect the future, not the situation in real time. In his opinion, the recession in the economy, which has become often talked about on Twitter, has already been discounted in quotes.
He compared the performance of the NASDAQ index with the ISM business sentiment indicator. According to the calculations of the specialist, the value of the first corresponds to the levels of GDP reduction by 2%. According to the latest data, ISM remained unchanged in September, amounting to 52.8 points, which is higher than the pre-recession level of 48 points.
Pal predicted negative inflation over the next 18 months.
“If we look a year ahead, the recession is behind us, rates are lower and inflation is easing. This is a good combination for risky assets and cryptocurrencies. The latter bottomed out in June. Bitcoin went through a retest of lows two days ago. That’s how I perceive it.” — said the expert.
The macro investor cited a buy signal for DeMark indicators. For Ethereum, it worked earlier, the specialist added.
Recall that in July, Pal pointed to the preparation of the cryptocurrency market for a trend reversal upwards in light of the growth in the money supply.
Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.
Found a mistake in the text? Select it and press CTRL+ENTER
