With the success and the growth that Bitcoin (BTC) is experiencing, it is expected to go a long way when it comes to its price. Just recently, it was one of the macro investors ‘Raoul Pal’ who commented on the bullish nature of Bitcoin (BTC).
Raoul Pal is one of the macro investors who has stated that Bitcoin (BTC) may hit an all-time high price of $150,000. He speculated that the Bitcoin (BTC) will show this price in a matter of a year that will be achieved by November 2021.
For those who do not know, Raoul Pal is the CEO and founder of the firm known as Global Macro Investor and Real Vision. He stated that the price he speculated that would be the most conservative scenario where the Bitcoin (BTC) will hit that price.
He speculated that there are possibilities that Bitcoin (BTC) may end up hitting $250,000 till that time. He stated that it is possible when a large amount of money starts flowing into the Bitcoin (BTC) markets from institutions.
Raoul Pal stated that this is exactly what makes the rally of the current Bitcoin (BTC) prices different from the one that was observed back in 2017. He stated that the Bitcoin (BTC) rally that was observed back in 2017 was the result of investments made by the retailers.
He also commended how PayPal, Grayscale, and Square became one of the top adopters of the cryptocurrency platform. He stated that these platforms are currently responsible for absorbing a large amount of Bitcoin (BTC).
This is the reason why the price of Bitcoin (BTC) has started experiencing such a high surge due to squeezing in the supply.
Raoul Pal stated that he has never seen such a high surge in the price of Bitcoin (BTC) as well as an imbalance in its demand. He also commented on the macro-financial events that are going in favor of the price of Bitcoin (BTC).
He added how the coronavirus and its vaccine has had an impact on surging the price of Bitcoin (BTC) even further. He stated now that the discovery of the coronavirus vaccine is underway, the governments will be releasing more funds. The funds this time will be on a large scale by the majority of the governments to ensure that the spread is controlled at the earliest.
This will eventually result in the devaluating the traditional fiat money and further strengthen the industry for Bitcoin (BTC).
He stated that this will be a life-changing scenario for the Bitcoin (BTC) holders. In the past, there has not been an asset that experienced an elevation of 5x, 10x, or 20x in such a short amount of time.