Renowned financial guru, Raoul Pal, Real Vision's chief, has recently provided a bullish prediction for Bitcoin's price. Just last week in "Drinks with Raoul", he further predicted that Bitcoin will reach between $250,000 and $350,000 very soon.
Technical Analysis and Macroeconomic Factors
Pal's assessment is through technical analysis and macroeconomic indicators. He further explained that Bitcoin recently broke away from a "wedge" pattern and is at a very slight downtrend - it could be a sign of eventual uptrend.
ISM Index as a Key Factor
An input factor for Pal's analysis is the ISM index, which reflects economic growth. According to Pal, the ISM index has already been greater than 50. And if that rises to 60, this will push Bitcoin to be predicted in the range from $250,000 to $350,000.
Altcoins with Even Greater Potential?
Beyond Bitcoin, Pal also sees great potential in altcoins. He forecasts that in the current market cycle they may outperform Bitcoin, as investors' appetite for risk grows. Significantly, he highlights projects, examples of which include the Walrus Protocol and the Sui Blockchain which may have the capacity to transform Web3 via efficient decentralized.
