Former Goldman Sachs executive predicts 1,000,000,000 users will flood crypto markets this cycle
Real Vision founder and former Goldman Sachs CEO Raoul Pal says crypto could reach a major milestone in the next bull market with a billion or more users.
In a recent Ask Me Anything (AMA) session, Pal says an inevitable wave of liquidity will prop up risky assets like crypto.
According to the macro guru, the increase in capital is likely to light up the nascent industry with new innovation that attracts the next batch of users.
“When liquidity returns to the markets, we will see the next surge of crypto history. And crypto history will go from 300 million users to a billion users or more in this cycle. And there will be applications that you haven’t dreamed of, or things that you thought didn’t come. It will come on a large scale, whether it’s digital identity, whether it’s massive instances of Web3, whether it’s DeFi (decentralized finance), or whether it’s something completely new. Whether it’s ticketing via NFTs ( non-fungible tokens), who the hell knows?
In this next cycle, with the amount of capital invested in his space, it’s going to see another acceleration.”
The macro guru says the Federal Reserve has likely already ended interest rate hikes in its bid to boost inflation. He also envisions a recession in the near future that will eventually force the Fed to reverse course and send markets higher via money printing.
“This is exactly what happened in 2019 after the Fed pivot in 2018. The Fed is going to take a break very soon, or has stopped. I think they have taken a break or absolutely should take a break. And we will see this continued the acceleration to liquidity slows down at some point and then we’ll have pauses in the market. We may even have pullbacks if liquidity goes back, which I don’t really see. And then we’ll see acceleration as we start to hit the recession and the unemployment side of equation, which comes later when the printing of real money and interest rate cuts really starts.”
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Featured image: Shutterstock/Giovanni Cancemi/Natalia Siiatovskaia
