- Goldman Sachs, Raoul Pal, opined that in the subsequent 12 to 18 months, bitcoin is likely to hit new points, which might extend up to a $20,000 all-time high.
- Pal stated that he was more bullish than ever on the BTC market.
- Bitcoin would probably be the only asset he would possess for a period extending to 10 years.
Cryptocurrencies are reaching its farthest points with its continuous utilization. However, it needs to be emphasized that the market has taken its hit at times of crisis. Recent statistical reports concerning the cryptocurrency market suggest that the Bitcoin market has been impacted hard in recent times. Bitcoin has fallen by 41% from its $10,500 range in February to $6,200 at present. However, acro analysts commented that the crypto-market might reach new records of heights, taking into account the fluctuating nature of Bitcoins.
The upcoming trends
Ex-head of Goldman Sachs’ equity derivatives business and the current CEO of Goldman Sachs, Raoul Pal, opined that in the subsequent 12 to 18 months, bitcoin is likely to hit new points which might extend up to a $20,000 all-time high. This trend observed to reflect in the crypto-market despite the current low-hit of the Bitcoin values.
He stated that he was more bullish than ever on the BTC market. His response based on the fact that society has lost its trust in the crypto-market due to its impact on the recent trends. This current trend, in turn, was reflected from the COVID-19 outbreak, which has affected the financial and political stability of the society. Meanwhile, it also to be noted that when the market healed from the present crisis, the BTC market will be back on track.
The asset for the future
He added that, in the coming years, Bitcoin would probably be the only asset he would possess for a period extending to 10 years.The remarks were on account of the asset’s potential to influence the financial market at present and in the future.
Also stated that the reward percentage of the assets like Bitcoin is much higher than any other conventional assets. He suggested that this asset holds the future of the digital ecosystem in the forthcoming years.
The company’s former executive commented on a previous instant that all classes of assets that can be possessed by an individual are mostly expensive except for crypto-assets like Bitcoin and other cryptocurrencies.
For example, he added, assets like equities are pushing extreme valuations for proportionally little profit. Bonds with its nearly zero yields, on the other hand, produce negative returns in some circumstances. Even real estate, he added on, has become more expensive and unaffordable. Thus keeping the above facts in mind, he suggests that Bitcoins becomes the best platform to make a prudent investment.