"I Have NEVER Seen This Before In My Lifetime" Raoul Pal 2024 Bitcoin Prediction
FinanceCryptocurrencyIn a recent video, Raoul Pal discusses the impact of the first Bitcoin ETF in the US and its potential implications on the cryptocurrency market. He also shares his predictions for Bitcoin's future and the ongoing debates surrounding cryptocurrency on social media platforms.
Limited Interest in Crypto Market
⭐Limited interest in crypto among general population
⭐ETF providers and enthusiasts are the main participants
⭐Crypto is still a niche speculative market
Impact of Bitcoin ETF Launch
🚀Bitcoin ETF outperforming the market is seen as hilarious by the speaker
🚀The average investor may not care initially, but the ETF's impact will filter down over time
🚀The success of the Bitcoin ETF launch depends on the price of Bitcoin at the time
Market Response to Bitcoin ETF
💹The launch of the first Bitcoin ETF in the US caused selling pressure on Bitcoin and a shift to Ethereum
💹Hedge funds were buying gbtc at a discount and hedging it with Bitcoin Futures, but unwound this trade when the ETF came out
💹The market quickly moved on to the next opportunity, which was the possibility of an Ethereum ETF as Ethereum started to outperform Bitcoin
Bitcoin's Future and Debates
🔮Prediction of Bitcoin's impact on the financial system and the incumbent firms' control
🔮Expectation of Bitcoin's acceptance by August with a 75% chance
🔮Ongoing debates and discussions about cryptocurrency on Twitter
FAQ
What is the main focus of the video?
The main focus is on the impact of the first Bitcoin ETF in the US and Raoul Pal's predictions for Bitcoin's future.
How did the market respond to the Bitcoin ETF launch?
The launch caused selling pressure on Bitcoin and a shift to Ethereum. Hedge funds unwound their trade when the ETF came out, and the market quickly moved on to the possibility of an Ethereum ETF.
What are Raoul Pal's predictions for Bitcoin's future?
He predicts Bitcoin's impact on the financial system, its acceptance by August with a 75% chance, and ongoing debates about cryptocurrency on social media platforms.
What is the speaker's view on the success of the Bitcoin ETF launch?
The speaker finds it hilarious that the Bitcoin ETF outperformed the market. He also believes that the ETF's impact will filter down over time.
How did the Ethereum market respond to the Bitcoin ETF launch?
The market quickly moved on to the possibility of an Ethereum ETF as Ethereum started to outperform Bitcoin.
Who are the main participants in the crypto market?
ETF providers and enthusiasts are the main participants, as there is limited interest in crypto among the general population.
What is the current state of the crypto market?
Crypto is still a niche speculative market with limited interest among the general population.
What influenced the approval of the Bitcoin ETF?
The approval was influenced by a court ruling and Gensler's motives.
What caused selling pressure on Bitcoin after the ETF launch?
The launch of the first Bitcoin ETF in the US caused selling pressure on Bitcoin and a shift to Ethereum.
What is the speaker's stance on the ongoing debates about cryptocurrency?
The speaker highlights ongoing debates and discussions about cryptocurrency on social media platforms, particularly on Twitter.
Summary with Timestamps
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In a recent video, Raoul Pal discusses the impact of the first Bitcoin ETF in the US and its potential implications on the cryptocurrency market. He also shares his predictions for Bitcoin's future and the ongoing debates surrounding cryptocurrency on social media platforms.
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