Raoul Pal, ex-Goldman Sachs executive and current CEO of Real Vision, has conveyed an optimistic forecast for the crypto market in 2024. In a YouTube dialogue with Anthony Scaramucci, founder of SkyBridge Capital, Pal pointed out that prospective stimulus measures in the U.S. and globally are expected to propel the crypto sector forward.
Elections as Catalysts for Economic Incentives
Pal emphasized that election periods often see politicians rolling out stimulus packages. He predicts this could inflate the economy, leading to an upswing in crypto prices. With economic instability in countries like China and potential for increased stimulus in Europe and the U.S., Pal suggests that there’s a considerable chance that our currency will diminish in value, causing a surge in asset prices, including cryptocurrencies, despite stagnant wages.
Inflation’s Influence on Crypto Value
Pal went on to describe the erosion of monetary value through inflation as a stealthy tax, eroding investors’ ability to purchase assets as prices climb. He pointed out that since 2008, the ability to buy assets has been declining by an average of 15% per year, effectively taxing individuals by reducing their purchasing power and socializing costs. The ongoing devaluation of currency bolsters assets like Bitcoin, which have seen consistent price increases.
For investors and industry observers, these insights offer a perspective on how macroeconomic policies can positively impact the cryptocurrency market, potentially leading to heightened interest and investment in the realm of digital assets.
The post first appeared on COINTURK NEWS: Positive Catalysts for Cryptocurrencies in 2024