Raoul Pal, a former macro hedge fund manager, predicts that the fourth quarter would be “exceptional” for crypto assets.
Pal co-managed the GLG Global Macro Fund in London for global asset management business GLG Partners (which is now named “Man GLG”) prior to creating macroeconomic and investment strategy research service GMI in 2005. Pal formerly worked at Goldman Sachs, co-managing the European hedge fund sales division in Equities and Equity Derivatives.
Additionally, Pal is the CEO of Real Vision, a financial and business video channel he co-founded in 2014. Pal noted in a recent interview with Real Vision Finance that the last months of the year have historically been bullish for crypto assets. Pal advised investors to watch for indicators of a market shift in order to ensure they “catch the proper bus” and avoid getting left behind. Pal stated, as published by the Daily Hodl:
My bet is that the crypto bus is a rocket ship and not a bus. And this last quarter will be extraordinary.
Pal continued, stating that macroeconomic shifts in the coming months will act as a spur for both digital assets and technology-related stocks. Additionally, he noted that any change in the macro narrative, whether positive or negative, would generate opportunities for digital assets, such as a halt in growth.
As he stated: I believe it is in the domain of lower bond yields, possibly weaker markets for a time, followed by additional stimulus, which sparks growth stocks. That entire exponential age thesis is resurrected, and it transforms the emphasis of market participants.
Pal anticipated that a macroeconomic shift will increase interest in technology over commodities, adding that the entire year is “often made between September and December.”
Through the end of the year, the macroeconomics master was bullish on crypto assets, stating last month that the market was in the “perfect setup” to continue its bull run.
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