Real Vision founder and macro expert Raoul Pal believes Bitcoin (BTC) will go higher over the coming weeks.
In a new video, Pal tells his 236,000 YouTube subscribers that the global money supply (Global M2) metric is “tightly correlated” to the price of Bitcoin.
-->According to the macro guru, the global money supply metric is now suggesting that Bitcoin could go up by around 28 from the current level.
“But at this point, it’s [the price of Bitcoin] really driven by liquidity. It gave us a three-month heads up to exactly the correction [of around $75,000 in April]. And yet Twitter said it’s about tariffs, it’s about the end of the world. It told you, it is telling you, and told you it would be at all-time highs. I told you it would be at all-time highs by May. It tells you we should be over $140,000 by July.”
Source: Raoul Pal/YouTubePal further says that the price of Bitcoin will at some point start rising faster than the increase in global money supply before trending in the opposite direction.
“I also know it will decouple later in the cycle, and it will decouple to the upside with Bitcoin outperforming Global M2. That’s how it works when the crowd comes in, the herd gets FOMO (fear of missing out), they get greedy, and it actually starts outperforming. The,n when the market flips, it eventually starts to underperform as fear kicks in.”
Bitcoin is trading at $109,350 at time of writing.
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