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Raoul Pal: This Crisis Will Give HUGE Opportunities
Cryptocurrency is grabbing all the news and headlines, as the market has experienced a meltdown, creating a frenzy of fear and panic. Bitcoin has hit its lowest since 2020, currently bouncing between $26,000 and $30,000. Ethereum is trading below $2,000, as many pundits questioning whether the second leading cryptocurrency can recover with an update scheduled in the near future. Terra Luna, once considered a top 10 cryptocurrency, is all but finished, as it is down 99.99%. All of this comes as a shock to many but it shouldn’t come as a surprise, as many prominent voices have consistently said that many of these coins won’t make it, and a 60% correction is very possible. Some have argued that we wouldn’t see as deep of a correction because of the wider spread adoption, which in turn provides more stability within the market. While this might be true in theory, in reality, boom & bust cycles have been happening in all markets since the beginning of time. Nonetheless, the sentiment of the market is down… as many are losing their savings and being wiped out. Macro investor Raoul Pal took to Twitter to express his thoughts and analysis around what’s happening and what’s coming. The long tweetstorm being with Raoul stating;
As I've talked a lot about, I think we are going into a pretty nasty recession (or are in one). Layoffs are coming as are house price falls. Demand destruction is everywhere due to the largest monetary tightening in history.
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🎵BACKGROUND MUSIC licensed through AudioJungle & Epidemic Sound
🎥FOOTAGE licensed through VideoBlocks and Filmpac, except parts about the topic that have been used under fair use.
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