Raoul Pal discusses how bitcoin is set to become the best global asset but still has some obstacles to get over first…

• Where do you see bitcoin going in the long term?
• Raoul Pal believes bitcoin is on its way to become the best trading assets in the world…

Raoul Pal, a well-known macro investor has recently said that the price spike in bitcoin still has a ways to go and could eventually put it at the million-dollar mark over the next five years.

Writing in the recent tweet, the investor looked into the long-term chart for the leading cryptocurrency after it broke out of consolidation in recent weeks. He said that the crypto still has a few obstacles to get over before it can truly break out.

Alongside a chart image, you can see his tweet below:

I like to get the texture of a move by looking at the long-term charts. Bitcoin is a stunner. The monthly chart has only just broken out this month. It has a long way in time and price to go.... pic.twitter.com/tS5wp0xH8P

— Raoul Pal (@RaoulGMI) August 10, 2020

Even so, Pal isn’t the only investor who is bullish on the future of bitcoin. Looking back into May last year, Paul Tudor Jones, the well-known advocate for Cryptocurrency has put up to 2% of his assets into bitcoin and said that the cryptocurrency was great speculation.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!