Raoul Pal, the founder of Real Vision, evaluated the current technical outlook in the cryptocurrency market in a recent publication. US businessman Pal pointed to the technical outlook in March 2020, arguing that the technical outlook gives bullish signals for Bitcoin, the leading cryptocurrency, and expressed his thoughts that BTC could initiate upward movements up to $35,000 price levels in the short term.
Real Vision Founder Raoul Pal Highlights Technical Outlook
Real Vision founder, US businessman Raoul Pal, argued that the leading cryptocurrency Bitcoin has a technical outlook similar to that in March 2020, and stated that there is a bullish expectation for BTC in the coming months. Pal shared his thoughts that Bitcoin can start the upward movement up to the price levels of $ 35,000 in the short term.
In addition, Raoul Pal added that the crypto money market remained relatively strong despite many factors that could trigger bearish price movements in the crypto money market, such as the Russia-Ukraine war, the FED’s interest rate hikes and monetary tightening policies, and the IHR crisis.
Bitcoin (BTC) Drops Below $30,000
The leading cryptocurrency Bitcoin (BTC), with the bearish movements that it started to record earlier in the day, fell below the $ 30,000 price levels again. Most altcoins in the cryptocurrency market accelerated their depreciation after Bitcoin slumped below $30,000. Ethereum (ETH) started trading at the price levels of $ 2,040 with the losses recorded in the last 24-hour time frame. The total market cap of cryptocurrencies has dropped to $1.34 trillion.
The information contained in this article does not constitute investment advice. Investors should know that cryptocurrencies carry risks due to their high volatility and should perform their transactions in line with their own research.