A well-known macroeconomic specialist believes the globe is in a recession, but believes that cryptos will be a viable investment class in the long run.
Real Vision CEO Raoul Pal tells host Caleb Silver on the Investopedia Express podcast that the Federal Reserve’s recent move to boost interest rates will exacerbate the economy’s problems.
“My macro view is that we’re in recession, it’s going to be pretty nasty.”
“The Fed shouldn’t have done what they did but the bond market tightened for them anyway– the Fed didn’t actually do it, the bond market did it all.”
” The Fed are going to have to unwind this mess, but it could get messy at first.”
“Using all the technical indicators that I look at, my view is if we are going to reach a proper bounce or a low,”
” it happens in June. So we’ve got between now and June for everyone to freak out.”
Pal believes that the major smart contract platform Ethereum (ETH) has fared pretty well in the face of inflation and the international sanctions that followed Russia’s invasion of Ukraine in February.
The macro investor is bullish about Bitcion and crypto in the long run, citing inflation as the reason why individual investors aren’t flocking to the market right now.
Despite the huge price swings that Amazon’s early investors experienced, the company has been fairly successful in the long run, according to the Macro Vision creator.
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