The ex-head of Goldman Sachs called 2023 and 2024 favorable for bitcoin and ETH
What happened? The head of the Real Vision channel and the ex-head of the Investbank Goldman Sachs, Raul fell in an interview with the crypto-investor Scott Melker said that “2023 will be good enough, and 2024 will be extremely good for Bitcoin and Ethereum. According to the macro economist, the current market conditions in a sense are repeated by those that were in 2018 before the bottom of the stock market and cryptocurrencies. So, PAL suggests that digital assets should increase significantly in the next 18-24 months due to the growing rate of adoption. According to Binance, on December 19, 17:50 Moscow time BTC and ETH are traded at $ 16,694 (-0.04% per day) and $ 1181 (+0.42%), respectively.
What else did you say? The macro economist noted that as soon as the policy of the US Federal Reserve (Fed) has been unfolding, the situation in the markets has completely changed. “In 2018, there were falls that are observed now, about 20-30%,” said Pal. According to him, it was sharply and all were horrified, and then the Fed softened the policy.
Pal drew attention to the fact that the stock market index s&P 500 grew by 15%, oil – about the same amount, and nasdaq – by ~ 20%. At the same time, Bitcoin in nine months increased by 300% or 400%, like ETH. According to the Palace, the Metkalf law is the reason why BTC and ETH will grow next year. He says that the value of the network directly depends on the number of users.
“What is interesting in the trend of acceptance this time, especially in ETH, is that the volumes and quantity of active users remain high,” the fellow argues. In addition, the total cost of transactions, which is a different part of the Metalf Law equation, has decreased along with NFT prices, but other indicators look stable.
Pal noted that in 2018 there was a much greater drop in daily active users, since this was at the http://ncrypto.site/?p=130 stage of implementing the network. This time fell based on what was created in the last cycle. He stated that the cryptocurrency market is in the long -term implementation cycle when the Metalf law comes into force, and it is he who leads to exponential growth. Each time we find ourselves in such a situation, new maximums occur in about 18-24 months.
In October, the expert predicted the growth of crypto capitalization up to 300 trillion dollars for 10-15 years. As Pal noted, the capitalization of all financial markets is at the level of 200 to 300 trillion dollars. In the future, the cryptosphere will reach the same indicators thanks to the “most quick and large -scale growth”.
In early November, Pal called NFT the most underestimated sector of the cryptorrhist. In his opinion, NFT can change almost all aspects of public infrastructure, although now they are used mainly only in the cultural sphere. At the end of the month, he shared his approach to investing in cryptocurrencies, calling the fundamental foundations when approaching this class of assets.
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