 ▲ Bitcoin bull market © Coin Leaders |
Former Goldman Sachs executive Raoul Pal said a sustained upward trend is coming for Bitcoin (BTC) and the cryptocurrency market.
According to the Daily Issue, a cryptocurrency media outlet, on the 23rd (local time), Raoul Pal, a famous macro investor and CEO of Real Vision, said in his latest interview with cryptocurrency trader Scott Melker that the number 4 of the presidential election year will be He pointed out that risky assets like Bitcoin tend to experience rallies in quarters.
“The fourth quarter of an election year is a real ‘banana zone’ for all assets, so you can see that there is a very, very, very high chance that asset prices will rise significantly as we get into the fall,” he said.
Pal explained that during elections, politicians create inflation through stimulus packages, which leads to rising prices of digital assets.
Bitcoin Magazine, another cryptocurrency media outlet, also said, "Bitcoin has historically shown good price movements during the U.S. presidential election season. There is a significant upward trend in the second to fourth quarters of each election year."
He added, "In line with past trends, it is expected that BTC will be able to show good movement in this election as a positive political environment has been created in which both the Democratic and Republican parties are courting voters interested in cryptocurrency."
Meanwhile, Pal shared a chart of Solana (SOL), noting that the altcoin is trading within a triangle structure, which could indicate a continued upward trend.
Pal said SOL is currently on an upward trend and this could be a good entry point to add to SOL positions. He predicted that there is a high possibility that SOL prices will rise significantly in the fall.
