Crypto: "2024 could be a decisive year," says Raoul Pal

The crypto market could benefit from two favorable factors in 2024: global stimulus plans and inflation. Raoul Pal, a former Goldman Sachs employee and CEO of Real Vision, explains how these factors could boost cryptocurrencies.

Positive Catalysts for Cryptocurrencies in 2024 https://t.co/OMzGgZ1AxA

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Optimistic outlooks for crypto

According to Raoul Pal, cryptocurrencies could benefit from two positive catalysts in 2024:

• global stimulus plans,
• inflation.

Increasing public spending, cutting taxes, easing credit… Stimulus plans are measures taken by governments to support the economy in case of a crisis. They aim to stimulate growth, consumption, and employment.

However, these stimulus plans come at a cost. They increase public debt and may cause inflation.

Raoul Pal believes that stimulus plans will be particularly important in 2024 due to elections in several countries, such as the United States, China, or Europe. According to him, the stimulus plans will lead to an increase in inflation. This will devalue traditional currencies and favor cryptocurrencies.

The impact of inflation on cryptocurrencies

Raoul Pal compares currency devaluation through inflation to a hidden tax that deprives investors of the ability to purchase assets. According to him, crypto represents a solution to protect against inflation. The reason is that it offers a limited supply and cannot be manipulated by authorities.

He uses the example of Bitcoin, which has seen a significant price increase in recent years. The BTC price moved from a few dollars to several thousand dollars. He thinks that this performance is due to the fact that Bitcoin is a rare currency, which cannot be created at will (unlike traditional currencies).

Raoul Pal adds that Bitcoin is also a universal currency. This crypto can be used anywhere in the world, without going through banks or governments.

Raoul Pal therefore believes that crypto currencies are the future of finance. They offer more freedom, security, and transparency to users.