Raul Pal predicted that the crypto market will reach historic highs

Former Goldman Sachs CEO Raul Pal believes that the crypto industry is preparing for new historical highs. Pal said this in a new session (AMA)

In a new AMA session, the macro guru said that while the market will fall in the short term, he also expects digital assets to rise to record highs later this year. According to Pal, the recent approval of exchange-traded bitcoin ETFs and the upcoming halving will ultimately push BTC $113,606.31 Bitcoin -0.37% Market capitalization $2.26 trillion VOL. 24 hours $1.36 billion and altcoins to grow.

«All [на ETF] pre-orders are already fulfilled — all these ETF providers are [звертались] to all their customers, begging them: „You need to do this“ — they all did. Next week will be a continuation, a lot of the GBTC (Grayscale Bitcoin Trust) guys are spinning up, and some will wait a few days to see if the market gets stronger,» Raul Pal emphasized.

The first ever US spot bitcoin ETFs were launched on January 10. At that time, the SEC approved 11 applications from Bitwise, Grayscale, Hashdex, BlackRock, Valkyrie, BZX, Invesco, VanEck, Wisdom Tree, Fidelity, and Franklin Templeton. ETF trading began on January 11, and within a day, the trading volume reached $ 4.6 billion.

According to Gary Gensler, the Commission’s chairman, the regulator’s decision was largely influenced by Grayscale’s victory in court. The company proved that the SEC’s refusal to consider its application to transform the Grayscale Bitcoin Trust (GBTC) into a spot bitcoin ETF was unlawful.