Raoul Pal, CEO of Real Vision, thinks that the ‘macro summer’ has begun and that the prices of Bitcoin (BTC) and altcoins will rise.
The former director of Goldman Sachs tells his 1 million followers on the social media platform X that macro summer brings ISM Production Index picking up.
The ISM is an indicator of US economic activity.
explains friend,
“And that’s driven by liquidity, which bottomed out at the end of 2022… the macro summer and fall is all about liquidity rising and is a core part of The Everything Code thesis…
And that in turn boosts tech stocks… they love macro summer and fall…
But Bitcoin LOVES the macro summer and fall even more. The crypto summer has started and is fully developing after the halving… it’s all the same Everything Code cycle…’
Friend notes that Bitcoin typically does well in presidential election years, which coincides with Bitcoin’s halving. The next halving, which will see miner rewards halved, is expected to take place next month.
Bitcoin is trading at $70,121 at the time of writing. The highest-ranked crypto asset by market capitalization is up more than 5% in the past 24 hours.
Pal also says that he expected altcoins are skyrocketing in the middle of macro summer.
“But the bigger game remains to be played as the alternate season arrives and we fully enter the Banana Zone. The Banana Zone is coming, and it’s a huge wealth-generating machine. Patience will be rewarded.”
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on Tweet, Facebook And Telegram
Surf to the Daily Hodl mix
Generated image: DALLE3