Raoul Pal Says 60% Chance Bitcoin Hits $150K, Sees Millennial Cohort As 'Biggest Buyers Of This Stuff'
Portfolio Pulse from Murtuza Merchant
Macro investor Raoul Pal predicts a 60% chance that Bitcoin could reach $150,000, with a 20% chance of peaking more rapidly and then declining, and another 20% chance of reaching $250,000. This analysis follows the approval of a Bitcoin ETF, which saw an initial price drop in Bitcoin. Pal attributes this to the market needing time to absorb new capital and highlights the millennial cohort as significant, stable investors in Bitcoin. He also notes a shift in the investor base towards a more finance-oriented crowd, which could reduce Bitcoin's volatility.
February 01, 2024 | 7:50 pm
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Raoul Pal predicts a 60% chance Bitcoin reaches $150,000, with potential for a rapid peak or a climb to $250,000. The recent Bitcoin ETF approval and the evolving, finance-oriented investor base could influence Bitcoin's price and volatility.
Pal's prediction of a significant price increase for Bitcoin, based on the approval of a Bitcoin ETF and the involvement of millennial investors, suggests a positive short-term impact on Bitcoin's price. The shift towards a more finance-oriented investor base could also lead to reduced volatility, making Bitcoin a more attractive investment.
CONFIDENCE 75
IMPORTANCE 90
RELEVANCE 100