Real Vision founder: Bitcoin is about to break through the huge cup-handle pattern
On July 29, Raoul Pal, former Goldman Sachs executive and founder of macro research institution Real Vision, posted on social media that "Bitcoin is about to break through the huge cup-handle pattern and enter the banana range."
Raoul Pal previously said that the "banana range" is a concept that Arthur Hayes and he often talked about. This is a very cyclical stage, when liquidity enters the market and the central bank needs to refinance all debts, using candy to please the people. At this time, cryptocurrencies usually rise vertically. This is a debt refinancing cycle driven by macroeconomic forces, which affects all asset prices, but cryptocurrencies are particularly outstanding. So the easiest way is not to screw it up. Keep a core portfolio with most of the assets allocated in major cryptocurrencies. If you can do it right in other assets, you can make a lot of money in that 10-20% of the portfolio, which is more risky but has greater returns.
