Famous economist Raoul Pal claimed that the unbalanced trend in the stock market will also negatively affect the crypto market. Especially recently, while Bitcoin and other altcoins have seen frequent declines, the market is expected to worsen due to the stock market.
Raoul Pal, one of the former executives of Goldman Sach, underlined that there will be a negative decline in the crypto money market in the coming months. Mentioning that Nasdaq is on the verge of bottoming out in terms of technical analysis, Pal stated that if the US Stock Exchange breaks the support in the chart below, it will reach the potential to bottom out.
A decrease is expected in the crypto money market
The experienced economist stated that the decrease in the stock market will cause panic in the market. He also underlined that especially investors will turn to investments such as dollars and debt securities in the face of such a situation.
In addition, Raoul Pal stated that there will be a collapse in the US market, which expects economic growth. Predicting that the economy is approaching rapidly towards low inflation and rapidly slowing growth, Pal noted that commodity prices will decrease if growth slows down
The decline in cryptocurrencies in recent weeks does not go unnoticed. The fact that Bitcoin, which previously reached $ 50 thousand, has been below $ 39 thousand in recent days, causes despair for investors. At the moment, eyes are on the interest rate decision on May 4, and changes in the markets are expected according to this decision.
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