Raoul Pal LATEST Bitcoin And Ethereum PRICE PREDICTION | 20 July, 2021

Raoul Pal LATEST Bitcoin And Ethereum PRICE PREDICTION | 20 July, 2021

Pal Latest Bitcoin And Ethereum Prediction 20 July

In this video, Raoul Pal narrates how he discovered Bitcoin during his search for the solution to the global debt bubble in 1998. Below is the summary of the narrative:

Since 1998 when Asia fell apart on a debt bubble, Raoul Pal had been noticing and writing about the global debt bubble. He noticed the same trends were happening in the West and Japan, so he was getting worried about the financial system. Then, 2008 came along and the government decided to print money. Europe also got into a debt crisis. This led Pal to start looking for a solution to the financial system.

Pal started thinking about how to create the world's safest bank. He spent years on that journey, and in 2013, a friend suggested he try Bitcoin. Pal quickly understood its prospect and scarcity value, so in the same year, he wrote about Bitcoin and gold, using stock to flow analysis

By 2015, Pal started realizing that everything in the world would be tokenized eventually and that would be a predominant business model. However, the Bitcoin price fell drastically after the 2017 bull run, so he got out too early after making some good returns.

In 2019, he started to get more focused on crypto. The pandemic hits further accelerated the process and made crypto the biggest economic event of all time. He observed the chart pattern was forming a triangle pattern, which indicates consolidation that precedes a breakout. In March 2020, everybody started to panic, and all risk assets were sold. Pal saw this as an opportunity for Bitcoin to surge and started buying Bitcoin before it hit $10,000.

Pal has also invested in Ethereum and other tokens. According to him, Bitcoin has two attributes: one is a store of value. It's like gold because it's a scarce asset like artworks or real estate. Besides, it has a call option for the future, which is the network effect of Bitcoin and the whole crypto space. This is why Bitcoin will rise when central banks keep printing more money.

In October, Pal started observing the chart of ETH/BTC. He checked the stock-to-flow model and used Metcalfe's Law to value the network which says a network has value proportionate to the number of people on it and the number of interconnections they have with each other. So, this law applied to Bitcoin. He realized Ethereum had the same price mechanism as Bitcoin.
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