Bitcoin Poised Close to a Major Surge with Global Liquidity Rising – Raoul Pal
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Raoul Pal, CEO of Real Vision and a prominent macro analyst, believes Bitcoin (BTC) is poised for significant breakout rallies, driven primarily by rising global liquidity.
Pal notes that Bitcoin seems to be benefiting from an increase in global liquidity. He has shared a chart indicating that if this trend continues, Bitcoin could potentially hit $90,000 by November.
Close, very close.
2/ GMI Total Global Liquidity vs BTC pic.twitter.com/aDFhNy3o2F
— Raoul Pal (@RaoulGMI) September 16, 2024
He also points out a historical correlation between Bitcoin and the global money supply (M2), suggesting that the leading cryptocurrency might be set for a major surge.
1/ Close, very close.
1/ Global M2 vs BTC pic.twitter.com/VWxHHYk0ki
— Raoul Pal (@RaoulGMI) September 16, 2024
Julien Bittel, a macro expert at Real Vision, echoes this sentiment, highlighting that improving macroeconomic conditions are boosting market liquidity, which is typically favorable for risk assets like Bitcoin.
Bittel reassures investors, stating that after a period of stagnation, increasing liquidity could lead to a significant upward movement in Bitcoin’s price, particularly as we approach the fourth quarter.
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