CEO and co-founder of Real Vision Group, Raoul Pal welcomed the recent drop in Bitcoin prices. The crypto influencer who once admitted dividing his wallet between BTC and ETH mentioned that he is relieved when Bitcoin sales arrive.
According to Pal, this market trend presents an opportunity for traders to go into “down buy mode”.
Pal notes that over the years, the month of March is often associated with bear spells.
Pal, a former Goldman Sachs executive posts his tweeter when Bitcoin was going through a drop in prices, which was accompanied by bearish sentiments across the board. At the time, assets hit a 24-hour low of $ 45,201 million; However, Bitcoin was trading at 48,076 and has risen and fallen by around 2% over the past two hours.
Previously, the macroeconomist believed that every asset, including Bitcoin, will have a bear case. However, Pal stressed the importance of “when” a downtrend would change market dynamics. He said that in “the whole investing game,” “making bear cases is only a small part of the game,” as are the bull markets.
Pal has also tried to predict the price of Bitcoin in the past. He mentioned BTC would climb to $ 1 million in about five years due to its tight supply and market demand that will always be in favor of Bitcoin.
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