Raoul Pal, former Goldman Sachs mutual fund manager, says that Bitcoin (BTC) is severely undervalued. Predicting the 2008 financial crisis, the CEO of Real Vision and Global Macro Investor explains why he was making a long-term bet on the leading cryptocurrency and states that Bitcoin’s final break from a symmetrical triangle dating back to late 2017 is just the beginning. says:
“I like to get the texture of the movement by looking at the long term graphics. Bitcoin offers an incredible sight. The monthly chart only appeared this month. BTC has a long way to go in terms of time and price and is logically not broken yet.
The agency is finally following what retail BTC investors have known from the beginning. We are probably in the early days of a huge move. This is a super thing! Bitcoin’s surge seems inevitable, and the price is now wildly low. ”
Bitcoin (BTC) and Ethereum (ETH) In Preparation For Rise
Pal says that although it has been very bullish on BTC, he is also expecting Ethereum to rise and thinks ETH will outperform BTC in the near term:
“I love both, but personally I’m closer to BTC. However, I am also closely interested in Ethereum, which may continue to perform better than BTC for a while. ”
Pal said earlier this year that Bitcoin could surpass $ 1 million in the next three to five years, calling BTC “the biggest deal of our life.”