Popular economist Raoul Pal suggested that key indicators under his lens show that crypto markets are bullish. Real Vision CEO Raoul Pal reviews Google Search activity and assesses the adoption of crypto assets and Bitcoin (BTC) in general. Details are on Kriptokoin.com.
Bitcoin recommendations from Raoul Pal
Former Goldman Sachs executive Raoul Pal tells his 894,300 Twitter followers that Bitcoin (BTC) Google search activity is “stable.” “BTC as a base layer is less likely to see a rate hike at this point in the adoption curve – more stable increases in adoption may be possible over time,” Pal said. According to Economist Pal, Ethereum (ETH) search activity, on the contrary, appears to be quite strong. “ETH appears to be capturing the L1 element of the applications layer (a kind of social token of the application ecosystem),” says popular economist PAL. Real Vision CEO says decentralized finance (DeFi) Google search activity has remained stable and is not growing at the moment. Pal says on the subject:
Given the [total addressable market] of its application, DeFi is likely to gain much more attention over time. We just saw the first mini wave. Wait until TradFi moves to blockchain for some real magic applications.
Economist Pal says immutable token (NFT) search activity shows the NFT industry is a “new breakthrough” in terms of network adoption. The Real Vision CEO adds that Web 3.0 has suddenly become “an all-encompassing term for the digital asset space and applications layer.” Pal says:
The true consumer applications tier (Web 3.0 and NFTs) is the newest attraction and will truly scale to the billions, but split into millions of projects and domains (music, arts, community, real estate, luxury goods) what happens: metaverse).
Pal is still bullish in the crypto market overall. And he is of the opinion that it does not take much time for his views on this matter to come true. Pal says:
For those of you who also care about macro, I think we’re really close to setting up buying bonds, buying tech, buying crypto. More to come… We’re watching closely but probably in the next 2 weeks. Meanwhile, patience…
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