The rapid recovery in the price of Bitcoin has increased the excitement of most cryptocurrency investors. BTC has once again surpassed $30,000, triggering double-digit increases in altcoins as well. However, a group of investors continues to feed their short positions because they still believe that this is a false rally.
Crypto Statement by a Famous Economist
Raoul Pal, a well-known figure in the crypto world and a former Goldman Sachs executive, is closely interested in Bitcoin and others. His predictions about the market are quite important in this regard. He made noteworthy statements in a recent podcast he participated in.
The former Goldman Sachs executive claims that individual investors managed to accumulate cryptocurrencies before institutional investors for the first time. While professional investors are concerned about large sell-offs due to macro uncertainty, individual investors, albeit in smaller numbers, continue to accumulate.
“Individual investors have never had the opportunity to have the infrastructure layer and to have it before institutions. I always talk about this, we are ahead of the institutions, and this is not a mass delusion or a dream, I know this because I talk to them every day, they all come, all the investors come, and for the first time in our lives, we have the privilege of having this.”
Great Opportunity in Crypto
According to Raoul, the cryptocurrency markets are preparing for a major explosion, and individual investors have gained a significant advantage as a result of their courage. The economist, who mentions the advantage of venture capitalists, says that individual investors now seem to have equalized the game in the crypto field.
“Those who can invest early are venture capitalists (VCs), and to be able to invest through this channel, you need to be an accredited investor, not only that, but most VC funds will not accept you if you don’t have a certain amount of capital, so large crowds are excluded from massive profit opportunities.”
Pal also opened a separate heading for Ethereum in the podcast he participated in.
“Right now, as the economy slows down, as the Fed starts tapering, people will buy treasury bonds, then they will buy corporate bonds, then they will buy junk bonds, then they will buy emerging market junk bonds, and then they will buy private credit.
The same is true in crypto, in the first part of the crypto spring, people buy Bitcoin, and then when they gain some confidence and things go well, they switch to Ethereum, and Ethereum starts outperforming Bitcoin.
Without even realizing it, you start moving down the risk curve, going into good projects, like Solana or Polygon. The really interesting thing is that when you start to understand that crypto is an economy, you will understand the importance of Ethereum.”
