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Crypto Trends

Raoul Pal says the current encryption cycle is like 2017

The Crypto Raoul Vision, CEO of Raoul Pal, said that the current encryption cycle is very similar to those witnessed in 2017.

The CEO of Real Vision gave Ruling With a video clip, where he said, “It is similar to a frightening way 2017.” Pal also said he started seeing a longer encryption cycle, expecting that it might take some time this time given the degree of work cycle. The work cycle points, according to PAL, are a model for the macroeconomic that it uses to track the global economy site in the broader session. He added that it is still less than 50 and it generally takes “some time to climb.”

Raoul Pal sees similarities in the current encryption market and 2017

According to CoinMarkcap data, Bitcoin started trading about $ 1,044 at the beginning of 2017, before it rose to about $ 2,187 by May 31. The first digital assets continued to close the year at $ 14156, indicating a huge increase of 1,255 % of the price per year. While Pal predicts the same movement, he admits that the weakest US dollar can indicate a slower encryption cycle, which means that it will take time before reaching its peak.

“With the collapse of the dollar until today, it began to indicate that this might go to the second quarter of 2026,” he said. Since the beginning of the year, the US dollar index decreased 8.995, as it was sitting in 98.77 at the time of writing this report, according to data from TradingView. Bitcoin and DXY are inversely linked. This means that when the dollar weakens, Bitcoin becomes more attractive, not only as speculative investment but as an alternative currency.

Pal also added that the total economy data has always been the main reason for the transformation of the encryption cycle. He said: “It seems as if the entire session has been changed, the cause rates have not been adjusted; the dollar was side to some time.” He also said that the current market may show signs that the market in 2020 appears to be more than that in 2021, indicating that it could be in a previous growth stage than many expect.

Bitcoin 2020 started at $ 7,174, but it decreased by 27 % in March to $ 5227. Then the assets flourished by 129 % to $ 11,990 in August, before witnessing an increase of 304 %, and the end of the year with $ 28,993.

Pal added that the market needs to continue expanding to attract big players. He discussed his last trip to the Middle East, where he met the sovereign wealth funds, adding that most of them were optimistic about encryption. He said: “The mandate throughout the entire region, from Saudi Arabia to Abu Dhabi to Dubai to Bahrain to Qatar, is artificial intelligence and blocs.” He also added that things should develop in the past, just seeing bitcoin as a backup asset, noting that countries need to start building their entire government infrastructure on Blockchain.

Global governments have been moving in the encryption sector since the beginning of the year. A typical example is Pakistan, as the country is looking for ways to create a bill that can be passed in the near future to regulate digital assets. In addition, the country plans to formulate the regulations that will protect its investors and attract international players to the center of digital assets.

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