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Will cryptocurrency experience a major explosion in 2024? Former Goldman Sachs executive reveals Christmas market trends!
Former Goldman Sachs executive Raoul Pal mentioned that the cryptocurrency market could see a significant surge by the end of 2024. Recently, during a chat with Scott Melker, he noted that historical data shows Bitcoin tends to gain momentum in December, and other cryptocurrencies may also rally in price.
What will happen to cryptocurrencies by the end of the year?
Pal referred to the 'Christmas rally,' indicating that the market usually experiences a rise in the last few days of December and the first two days of the New Year. He believes cryptocurrencies will follow this pattern, but he thinks the most explosive gains might occur in the first quarter of 2025.
What impact does liquidity have on the market?
Pal also discussed the current tightening of global liquidity, suggesting this might lead to significant market changes before the end of the year. He mentioned that during Trump’s time, liquidity was similarly tight, initially causing prices to rise, but later leading to a correction.
Things to pay attention to:
It's almost December; cryptocurrencies might need to rise.
The Federal Reserve's meeting in March will also be a point of focus for the market.
Whenever there are signs of liquidity changes, the market will fluctuate, and investors need to stay alert.
Pal's point is that while there are opportunities for significant gains in the cryptocurrency market, investors should be cautious, as the market may experience ups and downs, and vigilance is essential.
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