Real Vision CEO Raoul Pal said that the structure of the crypto market is changing and Bitcoin ETFs will soon arrive.
In an interview with Lark Davis recently, Pal said that due to the influx of institutional investors into the field, this round of bull market will be very different from the previous one.
He mentioned, “I think this is a huge difference. First of all, look at the acceleration after the halving and the previous acceleration. It is faster, which we did not expect. We all thought the slope would be smaller. . So far, it’s not like that. Now it’s just the beginning. So, I find it very interesting.”
Pal also mentioned that the structure of the market before was retail, and now institutions have entered the market. Some of them will buy and hold, but when hedge funds enter the market, they will start to bring new supply to the market because they will trade more and their trading scale is large. They will buy and sell, and go short.
He pointed out, “This is different from the structure we are used to. This actually reduces the volatility of Bitcoin over a period of time. The structure of the market is changing. I have a feeling that the trend of Bitcoin will be more than people think. It’s even more shocking. If you look at the logarithmic graph analysis, the price of Bitcoin may reach one million dollars.”
In addition to institutional investors’ growing interest in Bitcoin, Pal also expects the cryptocurrency’s exchange-traded fund (ETF) to further promote Bitcoin’s rebound.
Pal mentioned, “Bitcoin ETFs will come soon. It will provide another leg to the field by then, because many people are not used to paying a large premium for Grayscale Bitcoin Trust.”
Pal also predicts that acquisitions in the crypto space will rise, with small cryptocurrency hedge funds being the primary target.
