Impact Theory co-founder Tom Bilyeu posted a video of his interview with Raoul Pal on his YouTube channel on November 22. During the interview, the macro expert, a former Goldman Sachs executive, spoke about the trend in the cryptocurrency market. According to Pal, the cryptocurrency markets are doing well, contrary to what investors think.
Adopt encryption “continues to rise”
During his interview with Raul Pal announce Things are changing in the cryptocurrency market. He explained that the idea of a decentralized financial system is working well. ” Has anything changed in the cryptocurrency market? no thing ? Is the technology used? Did Solana just agree to use its own blockchain with Meta for NFTs? yesPal said.
Macro expert highlighted An increasing number of partnerships are being formed in the crypto space. Especially talking about Google, which is collaborating with Solana. He also noted that DeFi is far from a failure. In addition, he confirmed:Cryptocurrency is traded in an online system of value“.
However, Raoul Pal acknowledges that the number of people in the crypto space has not increased. He explains that this is due to the fact that there is currently a certain stability. The situation, however, is much more positive than it was a few years ago, says the senior teacher.
That is why he said:If you look at the previous cycle, from the peak of 2017 to the low of 2019, we lost about 80% of active wallet addresses. When I look now, we lost about 30% because adoption continues to increase“.
The problem is investor passivity
According to Raoul Pal, the current problem with cryptocurrency, which is still fundamentally strong, is Investor panic. The macro expert lamented that investor passivity is at a very high level at the moment.
“What we have is a rise in panic, because the earthquake happened and everyone is hypersensitive. Throughout my career, I have never seen such sentiments, whether in cryptocurrency or the stock market.“, confirmed the expert.
Raoul Pal confirms that there “Anger, resentment, and fear are now on a scale that they weren’t in 2008in the crypto market. The expert He urged investors to set the record straight and take a long-term approach.
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Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only fueled my enthusiasm. So I decided to study and understand the blockchain and its many uses and pass on my pen information related to this ecosystem.