Raul Pal: Bitcoin will only grow after a 22% collapse

Renowned macro analyst and Real Vision founder Raul Pal has expressed optimism about the prospects for bitcoin BTC $82,292.18 Bitcoin -0.09% Market capitalization $1.63 trillion VOL. 24 hours $0.76 billion , despite its current 22% lag from its all-time high. In his new video, he said that in the coming months, Bitcoin should enter a powerful wave of growth similar to that seen after the second halving in 2017.

Pal is convinced that the market has already priced in all the negative news and unfavorable economic factors. In his opinion, we are now entering a period when the BTC price will only move upward. He believes that bitcoin will return to record highs in the coming months, although this will not happen in a week or two.

The analyst emphasized that market participants have gone through a grueling consolidation phase with a slight decline, which is now coming to an end. According to him, altcoins have suffered significant losses, but this is a normal process that the market has gone through before, in particular, in 2017.

Pal also noted that the growth cycle in the crypto market is just beginning. According to his forecast, the market is entering the so-called «banana zone» — a phase of rapid and parabolic price movements that opens up opportunities for super profits. He reminded that the first part of this stage has already taken place — the market has left the long-term accumulation zone.

Bitcoin is currently trading at $ 85,201. According to Pal, the market is on the verge of the second, most important stage of the banana zone, which will launch a wave of rapid price growth.