Real Vision CEO and macro investment expert Raoul Pal stated that we are on the verge of a significant and powerful breakout in the cryptocurrency market. Speaking on the Empire podcast, the former Goldman Sachs executive Pal mentioned that a new phase in the adoption process of gaming applications is approaching, which could trigger growth in the cryptocurrency sector.
Emphasis on Crypto Consumer Applications
Pal said, “When we start seeing direct user applications, we see this transformation beginning in the gaming sector. I think this will be a major breakout.” However, Pal noted that this increase will not be limited to Blockchain-based games, predicting that cryptocurrency applications will see a significant rise in users in the coming months.
The former Goldman Sachs executive added, “We have so many consumer applications… I think the transition from Web2 to Web3 or from the ‘old internet’ to the ‘new internet’ will happen on a large scale. I think this cycle will really start.”
Possible 10x Rally in Solana, 4-5x in Bitcoin…
Pal also expects a significant rise in the overall cryptocurrency market. He mentioned that a 10-fold increase for Solana (SOL) and a 4 to 5-fold rally for Bitcoin (BTC) from current prices are possible.
The macro investment expert highlighted that a major trading opportunity in the cryptocurrency market is also near, likely associated with another Layer-1 Blockchain network. “The main topic I start thinking about is that there is always another layer-1 race. This race starts early when you don’t yet have proven network effects. This bet is actually a good bet. It’s not a bet you would put your entire fortune on, but the Solana bet of the last cycle was the ETH bet of the previous cycle,” he said.
Pal also warned that such Layer-1 projects typically appreciate rapidly but then experience drops of up to 95%, advising caution.
