This Factor Could Trigger Next Parabolic Crypto Bull Run

Raoul Pal explains important details about the factor that could trigger a new parabolic crypto bull run.

Former Goldman Sachs executive Raoul Pal said that changes in global market conditions could set off the next bull run for Bitcoin (BTC).

During a new interview with BitBoy Crypto, Pal says that while he’s still bullish on crypto, the markets still need a kick in order to ignite the next leg of the bull market.

“I actually think that we’re still probably in kind of the first phase of the next bull leg up. That’s what it feels like to me, but we need to see something change. What is the thing that’s going to change to do that?”

He continued and said the following:

“My guess is if the US economy or the global economy starts weakening, then the market is going to say, ‘Oh, there’s going to be less rate hikes than expected,’ and therefore, that tends to be good for crypto or technology kind of Cathie-Wood-style technology investments… I think at the margin, it’s those kinds of things.”

He also made sure to explain the fact that institutions continue to invest in the crypto space even as the number of retail investors dwindled as a result of inflation.

“Retail came out in May and the reason they came out in May was because inflation started rising and so people had less money in their pocket. We just saw less activity from retail, but the institutions have been there…”

He also said the following:

“I’m seeing institution asset allocation. I’m speaking to all the biggest pension funds, family offices, banks, everybody, and they’re all setting themselves up. People are starting to allocate capital.”

Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading in the red, and the king coin is priced at $38,448.