Blockchain News

Former Goldman Sachs Executive Raul Pal “BTC, ETH Uptrend is Coming Soon”


Former Goldman Sachs executive and analyst Raul Pal said in his 14th report that Bitcoin and Ethereum would soon enter a bull market for a variety of reasons. Raul Pal’s prognosis of a bullish turn was based mostly on the fact that both currencies were holding support.

Indeed, for the last three weeks, Bitcoin and Ethereum have held support levels of $16,000 and $1,200, respectively.

According to Raul Pal, the greatest negative news for the cryptocurrency market was the height of oversold circumstances, when many investors sold their coins and exited the market.

Raul Pal’s reasoning is based on ‘Metcalf’s Law,’ which calculates network value based on the number of users. In other words, individuals who leave the market have already departed, while long-term investors are willing to purchase at the bottom.

Another foundation is the investor psychological index.

“Investors’ fear index has gone beyond ‘severe dread’ and into the stage of ‘boredom,'” said Raul Pal. “This stage is a period when variables that produce enormous dangers in the market, such as leverage, are considerably decreased and new investors grow.” .

He projected that the US Federal Reserve’s relaxation of austerity would herald the beginning of a bull market for the two coins.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.