Raoul Pal, a former executive at Goldman Sachs, predicts a period of sustained growth for Bitcoin and the rest of the cryptocurrency market. In an interview with crypto trader Scott Melker, Pal highlights that historically, assets like Bitcoin and crypto experience rallies during the fourth quarter of a presidential election year.
According to Pal, the final quarter of an election year is a highly volatile time for all assets. He believes that there is a very high probability of a significant increase in prices by autumn. Pal states, “I mean, how long before ETH, Bitcoin [and] SOL break their recent highs? It could be two weeks. It could be two months. It doesn’t really matter, but then it accelerates.”
Earlier this year, Pal mentioned that politicians tend to provide stimulus packages during elections, leading to higher inflation and, consequently, higher prices for digital assets. Currently, Bitcoin is valued at $64,500.
Pal also analyzes Solana (SOL) and shares a chart that suggests the altcoin is respecting its diagonal support while trading in a triangle structure. He recommends considering a top-up of SOL positions at this point, as he believes it could be a good entry zone. Pal anticipates that Solana’s value will soar in the autumn. As of now, Solana is valued at $134.72.
A triangle structure is typically regarded as a continuation pattern that resolves in the direction of the prevailing trend. Based on Pal’s chart, it appears that SOL is still in an uptrend.
Please note that the opinions expressed in this article are not investment advice, and readers should conduct their own research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets.
