Macro Guru Raoul Pal Bullish on Bitcoin and Altcoins

Macro guru and Real Vision CEO Raoul Pal believes Bitcoin (BTC) and other leading altcoins are showing strength despite market fluctuations.

In a recent Twitter thread, the ex-Goldman Sachs executive noted that Bitcoin, Ethereum (ETH), Solana (SOL), and Sui (SUI) are displaying bullish patterns in their higher time frame charts.

> “We remain in the midst of the greatest macro trade of all time. All the wiggles and the timeline FUD (fear, uncertainty, and doubt) are just noise. To capture it, you need to avoid being too far out on the risk curve, refrain from using leverage, and have patience to zoom out.”

Pal insists that Bitcoin is in a bullish trend on the weekly chart, consolidating well above the trendline connecting previous all-time highs around $60,000.

> “It’s puzzling and sad to see so many bearish and nervous in crypto when BTC looks like this. Please zoom out.”

As of now, Bitcoin is trading at $95,444, down 1.7% in the past 24 hours.

Next, Pal highlights that ETH is forming a bullish triangle pattern on the weekly chart, preparing for a breakout after bouncing off the lower trendline near $2,600.

> “Or when ETH looks like this. Please zoom out.”

Ethereum is currently priced at $2,737, up 1.4% in the last 24 hours.

Moving on, Pal shares a weekly chart of Solana, which indicates SOL remains in an uptrend and could soon reclaim the $200 level as support.

> “Or when SOL looks like this. Please zoom out.”

At present, Solana is trading at $179, up 6.1% in the last 24 hours.

Finally, Pal notes that Sui is potentially poised to repeat a historic pattern by overcoming the resistance of a descending trendline and achieving new all-time highs.

> “Or when Sui looks like this. Please zoom out.”

Sui is currently trading at $3.19, down 3.8% in the last 24 hours.

In a similarly positive outlook, Bill Barhydt, CEO of crypto services firm Abra, is extremely bullish on BTC, ETH, SOL, and SUI. He believes that economic policies under former US President Donald Trump could inject significant liquidity into markets, driving crypto assets to astronomical prices.

Predictions:

• Bitcoin: $350,000
• Ethereum: $8,000
• Solana: $900
• Sui: $25

Generated Image: DALLE-3