Raoul Pal, CEO of Real Vision and macro investment strategist, has pointed out a possible substantial increase in Bitcoin‘s value as global liquidity elevates. Sharing his thoughts with a million followers on social platform X, Pal noted a positive correlation between Bitcoin’s price and global liquidity levels. A chart he shared suggests that the leading cryptocurrency could potentially hit the $90,000 mark by November.
Why is Global Liquidity Important for Bitcoin?
Pal highlights the significant historical linkage between Bitcoin and the global money supply, known as M2. He believes this connection signals an imminent major breakout for Bitcoin. His observation, “Very close. GMI Total Global Liquidity and BTC,” underscores the prospect of Bitcoin experiencing heightened growth as liquidity dynamics change.
What Does Julien Bittel Say?
Julien Bittel, another macro expert from Real Vision, agrees with Pal’s assessment. He emphasizes that current macroeconomic conditions are enhancing market liquidity, creating a favorable environment for risky assets like Bitcoin. Bittel encourages Bitcoin enthusiasts to remain optimistic, suggesting that increasing liquidity could stimulate substantial movement in Bitcoin’s price.
At the time of the article’s publication, Bitcoin’s price was $60,219, reflecting a 3% rise over the past 24 hours. The optimism among experts regarding rising global liquidity could hint at significant future movements for Bitcoin. Nonetheless, due to the inherent volatility in cryptocurrency markets and unpredictable macroeconomic influences, investors should proceed with caution and keep a vigilant eye on market developments.
Investors and analysts should consider these key points:
- Bitcoin’s price is closely linked to global liquidity changes.
- Potential for Bitcoin to reach $90,000 by November.
- Current macroeconomic trends are increasing market liquidity.
- Investors are advised to stay cautious due to market volatility.
The dynamics of global liquidity and Bitcoin’s potential upward trajectory offer intriguing possibilities for investors. As experts like Raoul Pal and Julien Bittel provide optimistic forecasts, the cryptocurrency landscape could see significant shifts, urging stakeholders to remain informed and prudent in their investment strategies.