Real Vision founder and former Goldman Sachs executive Raoul Pal says that crypto could reach a huge milestone in the next bull market with a billion or more users.
In a new ask me anything (AMA) session, Pal says that an inevitable wave of liquidity will prop up risk-on assets like crypto.
According to the macro guru, the surge in capital will likely light up the nascent industry with new innovation that attracts the next batch of users.
“As liquidity comes back into markets, we will see the next rise of the crypto story. And the crypto story will go from 300 million users to a billion users or more in this cycle. And there will be applications you haven’t dreamt of, or things you thought weren’t coming. That will come at scale, whether it’s digital identity, whether it’s massive cases of Web3, whether it’s DeFi (decentralized finance), or whether it’s something entirely new. Whether it’s ticketing via NFTs (non-fungible tokens), who the hell knows?
In this next cycle, with the amount of capital that’s been invested in his space, that’s going to see yet another acceleration.”
The macro guru says that the Federal Reserve has likely already finished rate hiking in its attempt to reel in inflation. He also foresees a recession in the near future which will ultimately force the Fed to reverse course and send markets higher via money printing.
“This is exactly what happened in 2019 after the Fed pivot in 2018. The Fed are going to pause very soon, or have paused. I think they have paused or certainly should pause. And we’ll see this continued acceleration until liquidity slows down at some point, and then we’ll have pauses in the market. We may even have pullbacks if liquidity goes back, which I don’t really see. And then we’ll see acceleration as we start hitting the recession and the unemployment side of the equation, which comes later when the real money printing and rate cutting really starts.”
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The post Former Goldman Sachs Executive Predicts 1,000,000,000 Users To Flood Crypto Markets This Cycle appeared first on The Daily Hodl.
