Markets
Raoul Pal REVEALS profit-taking strategy for 2024
In a recent video analysis by Savvy Finance, Real Vision founder and CEO Raoul Pal shared his insights on profit-taking during the current cryptocurrency bull market. Pal predicts record highs during the 2024-2025 bull market, predicting the market’s value will skyrocket from $2 trillion to more than $100 trillion over the next six years, a staggering 50-fold increase.
Read on to learn more.
Anticipation of higher prices later this year
Pal says it plans to turn a profit towards the end of the year, anticipating that prices will be higher by then. By doing so, he ensures that he gets some gains without being overly dependent on market fluctuations. This strategy is particularly useful for meeting personal financial needs while participating in the long-term growth of the market.
Pal points out that the approval of spot ETFs on Bitcoin and Ethereum has already reduced market risks, paving the way for unprecedented growth. He predicts that Bitcoin’s value could soon rise to over $200,000 per coin and potentially reach $1 million by the end of the bull market.
Pal’s cryptocurrency sales strategy
In the current market scenario, Pal advises investors to consider selling cryptocurrencies during the 2024-2025 bull market peaks to safeguard profits. It highlights the importance of established positions and institutional adoption for Bitcoin and Ethereum. However, he cautions that emerging cryptocurrencies like Solana require careful evaluation due to their volatility. Diversifying portfolios and staying aware of market trends are key to successful exits.
While it is too early to predict the next cryptocurrency bull run, one thing is for sure: BTC, ETH, and SOL will be the top contenders according to market indicators. The approval of Bitcoin ETFs has pumped tens of billions of dollars into the market, and the SEC is expected to approve several spot Ethereum ETFs by September, which experts predict will also be highly successful.
Long-term investment strategy
Pal believes that the best approach to investing in the cryptocurrency sector is to have a long-term time horizon and ride the wave during both ups and downs. For those who do not have urgent financial needs, a long-term buy-and-hold strategy is optimal, recommending holding investments until at least 2030.
Meanwhile, Plan B suggests timing the market around Bitcoin halvings, buying six months before the halving and selling 18 months after. Historically, this strategy would produce better returns than a simple buy-and-hold approach, avoiding severe declines in bear markets and taking advantage of bull market gains.
The “Banana Zone” forecast.
Pal concluded his analysis by predicting a significant market surge in Q4 of the election year, calling it the “banana patch.” According to historical trends, Q4 sees growing activity in assets like Bitcoin, bolstered by election year stimulus.
With an election year on the horizon, are you preparing for a crypto surge in the fourth quarter?