Raoul Pal stated that it might be time for the Bitcoin rally.
Bitcoin and cryptocurrency markets have started to show signs of life again after the stagnant course that has been going on for weeks. Consolidation, which started in May, lasted until the first week of July, and now there are slight fluctuations in altcoins.
Dogecoin Achieved 100% Increase
Although Bitcoin has been stuck between $ 9,000 and $ 10,000 for a long time, this move in altcoins is expected to show up for BTC soon. Dogecoin, one of the popular cryptocurrencies, had a record increase of 100% recently due to purely TikTok and FOMO reasons.
In addition, Cardano in the top 10 cryptocurrencies also grew by over 25%. The number of cryptocurrencies that have achieved such unexpected rises in the Top 100 has recently increased, attracting the attention of famous macro analyst and investor Raoul Pal. Pal emphasizes that these developments are the beginning of the Bitcoin bull market.
Stating that we will see the crypto rally very soon, Pal emphasized that there will be a small break in the Bitcoin chart and that FOMO will start if the wedge formation is recovered.
— Raoul Pal (@RaoulGMI) July 8, 2020