Raul Pal predicts Bitcoin growth to $ 1 million

Former Goldman Sachs executive Raul Pal believes that the cryptocurrency market cycle has only just begun, despite the significant growth of digital assets in 2023.

The analyst tells 22,000 subscribers to his YouTube channel that the bull market cycle could last for years and lead to bitcoin BTC $56,050.60 Bitcoin -2.01% Market capitalization $1.11 trillion VOL. 24 hours $4.29 billion potentially soaring to a maximum of $ 1 million by 2025.

«Here's a chart, a long-term chart of bitcoin since 2013. Some people use this chart for a longer period of time. I used to, but the early cycle was so ridiculous that it messed up the chart. Other than that, it’s actually a perfect logarithmic trend.

And as you know, we believe that the business cycle will peak at the end of 2025, which means a crazy goal of getting somewhere between half a million and a million dollars in bitcoin. Is this something we should expect? Probably not, but who the hell knows for sure?" Pal reflects.

The crypto expert suggests that the current bull market cycle is similar to the one in 2016−2017, when a huge influx of liquidity caused the growth of digital assets. Although bitcoin and other altcoins experienced strong growth in late 2023, Pal believes that the current bull market cycle is still in its infancy.

«These cycles can be crazy, and this one is more like the 2016−17 cycle than the last one. And in that cycle, there was not a lot of central bank printing, not in the US. But central bank balance sheets were growing. We saw a 20% increase in liquidity. And what happened was that cryptocurrencies just exploded. I feel that this is exactly the case. I don’t focus on the end goal. I’m focusing on the structure. But I’m just showing you the scope of the possibilities. And we are still one standard deviation oversold. That’s all you can count on. We have barely started,» the industry analyst summarized.

According to the CoinMarketCap analytical tracker, as of the morning of December 29, the main crypto asset is trading at $ 42,440. The coin’s market capitalization amounted to $ 831 billion. Traders made daily trading deals worth $ 22.8 billion. Bitcoin’s dominance in the market amounted to 49.8%.