The founder of Real Vision, a former CEO of Goldman Sachs, said that the macroeconomic environment is starting to look attractive for investing in cryptocurrencies.
Raoul Pal says investor sentiment is in a state of extreme fear right now, and this could be a catalyst for growth for risky assets like bitcoin and altcoins:
“The bearish trend and the situation in the global economy makes everyone think that the global collapse of the financial system will come soon. Therefore, investors are reviewing profits downwards.”
According to the businessman, investors are very negative and are playing it safe. If earlier the market placed incredibly high volumes of investments, now it does not work, as sellers prevail over buyers. The macroeconomic expert says that such a situation may prompt the US Federal Reserve System (FRS) to loosen monetary policy.
“Now there is no liquidity in the market, because there are only sellers left. I think this will cause huge problems in the future. Ultimately, businesses will need to issue more money and change the market,” Pal said.
The ex-CEO of Goldman Sachs emphasizes that once central banks start printing money again, assets like bitcoin and altcoins will rise.
“This is a sad state of affairs, but this is the reality. Now you can see when the shift is coming and use it to your advantage by investing in cryptocurrencies.”
The head of the FTX exchange, Sam Bankman-Fried , said that cryptocurrencies are still at the mercy of macroeconomic forces that either weaken or strengthen the crypto market.
