Raoul Pal, CEO of Real Vision, predicts that crypto will be the best performing asset class as the macro guru sees a continued rise in global liquidity.
In a new edition of the former Goldman Sachs executive’s newsletter, he say cryptocurrencies will probably even outperform what he calls Exponential Age stocks and technology company stocks.
“Since last October, we have suggested that the two fastest horses in this race (the debasement and liquidity cycle) will be crypto first, followed by Exponential Age stocks, then technology. It plays perfectly.”
Pal also pays attention to the US Investor Intelligence Sentiment Survey, a statistic that shows the percentage of investors who are optimistic about risk assets.
“Looking at another long-term chart, sentiment metrics also remain extremely low: the strategic buy signal for stocks on this indicator came back in January. So far, so good.”
According to the macro guru, the stock market could soon see a correction after the major rally that started in 2023, but he predicts that market liquidity will increase, which has historically led to strong increases in crypto.
“In the near term, the NDX (Nasdaq) has entered overbought territory relative to global liquidity conditions and is probably too late for a correction at some point soon after the monstrous 40% rally from the lows… but the CRUCIAL point to understanding is that liquidity will continue to rise.”
The macro expert has previously said he believes a new bull cycle has officially started in October. He predicts new yearly highs for the crypto market with corrections along the way.
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Image generated: Midway through the journey