Raoul Pal Predicts Bitcoin’s Outperformance Amid Rising Rates
- Raoul Pal stated that Bitcoin has broken its downtrend against the Nasdaq on weekly charts as of September.
- The Federal Reserve increased interest rates by 25 basis points to a range of 3.75% to 4.00% in September.
- Pal believes fiscal dominance will lead Bitcoin to outperform, despite common expectations of rate hikes negatively impacting it.
- Bitcoin’s price rose from $75,580 to over $81,000 following the Fed’s rate hike decision.
- Pal highlights a significant correlation between Bitcoin and global liquidity, suggesting potential upside when liquidity increases.
- He also emphasizes opportunities in the broader crypto market beyond the top ten coins, with this segment valued at approximately $226 billion.
Raoul Pal suggests that rising interest rates might not harm Bitcoin as expected due to fiscal dominance and liquidity factors. Instead, he sees potential for Bitcoin to outperform traditional indices like the Nasdaq.
Despite recent rate hikes by the Federal Reserve and Bank of Japan, Bitcoin’s price has surged past $81,000, supporting Pal’s view on its resilience and potential outperformance amid fiscal changes.(Source)
