CandleFocus Raoul Pal Says Buy More Bitcoin: “It’s Simply Going Up” Amid Fed Rate Cuts
2024-09-19
Author: Content Editor
Prominent macro analyst Raoul Pal remains optimistic about the long-term trajectory of Bitcoin, stating that it is on an upward path and that other factors are merely distractions. Pal advises investors to buy, hold, and be prepared for market challenges, emphasizing the importance of resilience. He believes that unless a major shift occurs, such as a financial system breakdown or a halt in technological adoption, Bitcoin's upward movement is inevitable. Pal has linked Bitcoin's price movements to rising global liquidity and projects that it could reach $90,000 by November if current trends persist. A recent report supports Pal's outlook, highlighting oversold conditions and the possibility of a rise to $1 million over the next decade. Bitcoin is currently trading at the lower end of the Power Law's logarithmic band, indicating limited downside risk and the potential for an upward shift.
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