Raoul Pal, a leading macro thinker in the crypto space, recently shared his bullish crypto outlook in an interview hosted by the prominent influencer Crypto Banter. Pal reiterated his consistent bullish perspective of the crypto sector providing insights on the declining inflationary pressures and increasing market stability. The investor also highlighted Grayscale Investment’s landmark victory against the Securities and Exchange Commission (SEC) as a key reason for his optimistic view of the market.
The crypto enthusiast strongly believes that a severe crypto winter and the much-anticipated recession have already taken place in the previous years. He asserted that the market tactically confronted the major challenges the recession had presented, reinforcing his confidence in the further resilience of the industry.
Pal, firmly standing on his long-held bullish beliefs, commented that the current market trends as well as the forward-looking indicators signal a bullish market ahead. He spoke:
I’m bullish, I’ve been bullish for a while, and it hasn’t changed. For me looking forward, we’re now getting the bits that I’ve been waiting for. You see, I live in the future. I use forward-looking indicators, so they’re looking at things in advance, the economic data in advance, kind of a glimpse into the future. But now that data’s catching up.
In a surprising turn of events that marked the SEC’s loosening clutch over the crypto firms, Judge Neomi Rao questioned the regulator’s indefensible rejection of the investment company Grayscale’s request for Bitcoin Spot ETFs. Following the court’s decision to review Grayscale’s lawsuit against the SEC, Bitcoin exhibited a massive spike of 6%, showcasing a substantial positive inclination in the whole crypto environment. Though Bitcoin crossed the $27k range on the day, at press time, the cryptocurrency is traded at $25,777.46, down 0.74% in one day.
While pointing out the significance of Grayscale’s win over the SEC, Pal stressed that the approval of Grayscale Bitcoin Trust (GBTC) into Bitcoin Spot ETFs is similar to promoting a flow of capital into the crypto industry. In addition, he stated that the development would also help investors to easily access Bitcoin.
