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Bitcoin Price to Surmount $20,000 In 18 Months
In an interview published on Saturday, Raoul Pal — ex-head of Goldman Sachs’ equity derivatives business and the current CEO of Goldman Sachs — remarked that he thinks the BTC price will rally to its $20,000 all-time high within the coming 12 to 18 months, despite the current crash seen in global markets.
This interview was released shortly after he remarked that he is more bullish than ever on Bitcoin (BTC), remarking that there’s a possibility that “all trust” in the “entire system” has been lost.
This was presumably in reference to the world’s response to the outbreak of COVID-19, which has revealed clear insecurities in the fabric of society, from politics to finance.
“If I could only own one asset for the next 10 years, it would be bitcoin, It encapsulates all of my larger macro views and feels like the point on the far horizon we are headed to, in some shape or form. Yes, like gold too and many other things but BTC risk/reward beats all.” – Raoul Pal
The former Goldman Sachs executive previously told prominent industry podcaster Stephan Livera that all popular asset classes are extremely expensive, except for Bitcoin and cryptocurrency.
Equities, he explained, are roughly at all-time highs, and are pushing extreme valuations for relatively little profit and potential. Bonds aren’t much better, Pal opines, drawing attention to the “virtually zero yields” — and negative yields in some cases — that debt deemed safe provides.
Even real estate isn’t attractive, with the prominent investor calling this asset class “unaffordable”, adding that it makes even less sense to purchase homes because they’re trading near all-time highs.
Fundstrat & eToro Analysts Predict Coronavirus Crisis May Strengthen Bitcoin
What has been driving recent Bitcoin price action?
Or perhaps more importantly, who? And why does it matter?
Lead Digital Strategist at Fundstrat David Grider and Platinum Account Manager at eToro Simon Peters break down Bitcoin’s next move, how the coronavirus and financial crisis may impact the halving, and how Bitcoin’s fundamentals will affect its long-term prospects.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.