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Raoul Pal Latest Update After Crash: “Buy The Dip & Sit Tight ”
There is more blood on the streets in cryptocurrency as Ethereum went below $3,800 and Bitcoin dipped below $47,000, just days after breaking the $50,000 resistance which many hoped would be the beginning of bullish action toward the $100k price point that so many voices within the Bitcoin community many have been predicting. Many investors and enthusiasts are looking for an answer, as most expected bullish action toward the end of the year heading into 2022, especially with the adoption of institutional money and the emergence of NFTs. Nonetheless, we are all still scratching our heads, not knowing if we are entering a bear market or if we are just experiencing a flash crash before a huge bull run. For investors looking for answers and perspectives, Raoul Pal went on a “tweet storm” just after the crash touching base on various topics regarding the dip, even offering some advice.
In his first tweet, Raoul said “wow, everyone is super bearish on everything in digital assets”, later stating in the tweet that most likely the crash is due to disposable income being limited for the retail buyer. With the holiday season coming, this could play a factor as people might pull profits or be reluctant to invest any disposable income. Raoul also went on to mention that the Fed’s Year over Year balance sheet is a factor, and also the tax selling at the end of the year. This is a sentiment expressed by Raoul before and also seconded by Cathie Wood
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To Read The Full Tweet⬇ [Credits] 🙏
Wow, everyone has gotten super bearish on everything in digital assets
I do think crimped excess disposable income due to inflation is partially to blame. The marginal retail buyer is more… marginal 1/
— Raoul Pal (@RaoulGMI) December 14, 2021
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