Macro Guru Raoul Pal Says Crypto Bull Run Could Depend on This Aspect of Digital Assets Industry

Former Goldman Sachs executive Raoul Pal says the strength of the crypto market’s bull run could depend on one key factor.

In a new interview with Pomp Investments founder Anthony Pompliano, Pal says the crypto market could soar this cycle with an increase in real-world blockchain use cases.

He also says that re-engagement by past digital asset holders could also boost crypto’s bullishness.

“Thinking about the crowd that got financialized in 2020, mainly the millennial crowd, there are 110 million Coinbase accounts. And when I checked six months ago, only nine million were active. So speaking to the guys at Coinbase, they’re like, yeah, you know in normal activity it’ll get to 35, 40 million and the top will grow as well. So there’s a lot of money still to come in if people who participated last time around have that interest, still have PTSD, will come back in…

I also have a feeling the applications layer of blockchain is going to bring in a lot more use cases. So I’m thinking of this cycle as maybe the ‘everything, everywhere all at once’ cycle, where people have different unlocks for NFTs (non-fungible tokens) or inscriptions or different unlocks for smart contracts and some of the other things and they can use it for everything from whether it’s ticketing to real-world assets.

So it just depends on how far the application’s leg goes. If the application leg doesn’t make much progress this cycle, then you’re dead right, we’ll see rebalancing.”

I

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Source: https://dailyhodl.com/2024/01/31/macro-guru-raoul-pal-says-crypto-bull-run-could-depend-on-this-aspect-of-digital-assets-industry/