As Bitcoin is trading for $22,844.64, down 1.5% in the past 24 hours and Ethereum trades for $1,566.96, down 3.2% in the past 24 hours, the bulls seem to be losing steam as BTC struggled to gain bullish momentum above the $23,800 level. A new yearly high was formed near $23,829 and the price started a downside correction. Eth is experiencing the same resistance, as it slid off its $1,60 price. According to macro expert Raoul Pal, this is what to expect in 2023. In an interview with Overpriced JPEGs, Raoul gave his outlook on what he sees coming in 2023 with crypto, specifically Bitcoin and Ethereum. Raoul believes this will be a choppy ride for both coins, as the macro environment, specifically liquidity, will affect the price action for the top 2 cryptocurrencies. When asked for a specific price, Raoul kindly shied away from giving a specific price, as he took heat for his $40K Ethereum price prediction and his $200K Bitcoin prediction. Nonetheless, Raoul believes that both Bitcoin and Ethereum hit their low in June but we are in for swings in 2023.
Raoul Pal is the CEO and co-founder of Real Vision and CEO and publisher of The Global Macro Investor. He was co-manager of the GLG global macro hedge fund in London. In 2004, he retired from fund management and started The Global Macro Investor in January 2005. He was one of a relatively small number of investors to predict the mortgage crisis of 2008–2009. He was co-head of hedge fund sales in equities and equity derivatives at Goldman Sacks in Europe, based in London.
► To watch the full interview:
🎥 We own commercial licenses for all the content used in this video except parts about the topic that have been used under fair use and it was fully edited by us. For any concerns, business inquiries, etc. please contact us via email in the “About” section of the channel.
Related: Mark Yusko Speaks On Bitcoin Price Prediction 2023