- 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.