Former macro hedge fund manager Raoul Pal says the final quarter of the year will be “extraordinary” for cryptoassets.
Prio to founding macro economic and investment strategy research service GMI in 2005, Pal co-managed the GLG Global Macro Fund in London for global asset management firm GLG Partners (which is now called “Man GLG”). Before that, Pal worked at Goldman Sachs, where he co-managed the European hedge fund sales business in Equities and Equity Derivatives.
Also, currently, Pal is the CEO of finance and business video channel Real Vision, which he co-founded in 2014.
Speaking in a recent Real Vision Finance interview, Pal explained the final months of the year have historically been bullish for cryptoassets. Pal said investors should be on the look for signs of a market shift in order to “catch the right bus,” and avoid being left behind.
As reported by the Daily Hodl, Pal said:
My bet is that the crypto bus is a rocket ship and not a bus. And this last quarter will be extraordinary.
Pal continued, saying changes in the macroeconomic landscape in the coming months would serve as a catalyst for both digital assets and tech-based stocks. He also mentioned that any positive or negative change in the macro narrative would create opportunity for digital assets, such as a slowdown in growth.
He said:
I think it’s in the realm of weaker bond yields, probably weaker markets for a period of time, then more stimulus, and that ignites the growth stocks. That whole exponential age thesis again, and shifts what people are focused on in markets.
Pal predicted a shift in the macro landscape would lead to greater interest in technology over commodities, and said the entire year is “usually made between September and December.”
The macroeconomics guru has been bullish on cryptoassets through the end of the year, saying last month that the market had the “perfect setup” to continue the bull run.
https://youtube.com/watch?v=FMOe519cxIs%3Ffeature%3Doembed
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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