Raul Pal predicted the growth phase of bitcoin

Former Goldman Sachs CEO Raul Pal predicted significant growth of bitcoin and the cryptocurrency market as a whole in the fourth quarter of 2024.

https://www.youtube.com/watch?v=nkHumSV7TeA

On the air of The Wolf Of All Streets podcast with Scott Melker, the investor noted that risky assets like bitcoin usually demonstrate a rally against the backdrop of the US presidential election.

"The final quarter of the election year is a real "banana zone" for all assets. It's always like that. So you know that there is an extremely high probability that everything will go completely awry by the fall," Pal said optimistically.

He also noted the uptrend of Solana, according to technical analysis.

"If you want to boldly replenish your position in SOL, this will probably be a good entry point... let's see! Bananas ripen slowly [...], but in autumn they should be great," the investor hinted at a possible altseason.

Taking into account the opinion of experts, users need to conduct their own research on the risks of investing in digital assets.

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In May, Pal drew attention to the fact that the administration of the new US president is inclined to prolong the growth of the national debt, increasing liquidity. He noted that historically, the "banana zone" for cryptocurrencies in the fall is much more pronounced than, for example, for the Nasdaq index.

Data: Linkedin.

Recall that Bitfinex analysts admitted that the first cryptocurrency is now in a consolidation phase amid sales by long-term holders.

On June 24, bitcoin failed the $62,000 level after the statement of the trustee of Mt.Gox about plans to start compensation payments.