Raoul Pal believes establishments have completed taking income as yr winds up

0

Real Vision CEO Raoul Pal believes the recent volatility in Bitcoin price is due to institutional sales to prop up their year-end profits.

Perennial Bitcoin (BTC) bull told Vlad of The Stakeborg Talks in a Dec. 27 interview that he believes the market is currently one-sided due to the institutional impact. Pal said they sold to secure their profits. It was a way for institutions to say, “I believe in getting paid”.

@RaoulGMI responds quickly. Not this time. It took him 6 seconds to reply, “Why #DAO is so sexy,” but the answer was brilliant.

Less than 30 minutes until the premiere. Today at 7:00 p.m. CET on our YouTube channel: https://t.co/lq96tZHfwq@Arscryptopia @stakeborgdao pic.twitter.com/4rgIev1XLw

– StakeBorgDAO (@stakeborgdao) December 26, 2021

When you consider that much of December sales, according to Glassnode, came from wallets that Bitcoin accumulated over the summer and that institutional assets under management (AUM) of cryptocurrency skyrocketed in May and October according to Coinshares, the timing speaks for itself Indeed, sales to institutions unloading some bags.

“Now the question is, ‘Are you done?'” Pal asked.

“It looks like they are done because the market has been hacking for the past week, which was the traditional last week of everyone fixing their books.”

While predicting there could be more sell-offs from Asia, Pal expects crypto markets to get off to a strong start in 2022 as capital shifts from institutions.

Pal believes institutional investors will become increasingly optimistic about cryptocurrencies by 2022, as by the end of the decade they will begin to better understand the ever-increasing adoption of the technology “and what it means in terms of market cap”.

Related: Analysts say 2022 will be defined by “agility and cost efficiency” rather than “blockchain purity”

Genesis Trading’s Noelle Acheson shares Pal’s insights on institutional uptrends in crypto through 2022. She discussed institutional trends from 2021 and today pointed out some potential highlights for 2022 in CNBC’s Squawk Box.

“The institutional growth over the past 12 months has been astounding and we are seeing strong signs that that growth will accelerate itself over the next year through both direct investment and investment in crypto market infrastructure companies.”

Bitcoin is currently down about 3.5% in the past 24 hours and is trading at $ 47,954 at the time of writing.

You might also like

Leave A Reply

Your email address will not be published.