Crypto market will fall to the bottom line in next 5 weeks

While the ongoing slump in the cryptocurrency market is making investors sleepless, some are seeing it as an opportunity. Many crypto giants believe that investing in recessionary times can turn out to be big gains in the future.

Hence, with the current downturn in the cryptocurrency market, it is the best time for some investors to buy digital assets. A similar statement has come from the CEO of Global Macro Investor, Raoul Pal.

Raoul Pal has made an important statement about the falling crypto market through a tweet, in which he has said that the bottom of the crypto market i.e. the lowest level of this downtrend is now very near. He told that the market will be at its lowest level in the next 5 weeks.

Crypto market will fall to the bottom line in next 5 weeks

Sharing his plan, Pal said that he will start buying crypto in large quantities from next week. Comparing the current market position to the crypto slump in 2014, he suggested that the current downtrend is a 10x bigger opportunity for investors.

Through a post on Twitter, Pal said that being a macro investor, I estimate that global assets will recover in the next 12 to 18 months i.e. one to one and a half years. He believes that the US Federal Reserve will cut interest rates, although the price of commodities may increase for the next one and a half years.

According to Bitcoin’s Weekly Relative Strength Index (RSI), the bottom of the market will come in the next five weeks. Right now the RSI is at 31 which is only 3 points above its all-time low. Bitcoin’s all-time low is at 28. Looking at this number, bitcoin’s low is very close.

Pal has claimed that the cryptocurrency market had seen a similar big drop in 2014 but later it again gained 10 times and this time it is going to be the same. He said that crypto is a long-term investment. It should not be seen as a business.

Sunil Kumar writes about smartphones and laptops for Gadgets 360 Tech News based out of Mumbai. He is Deputy Editor (Reviews) at Gadgets 360 Tech News. He has written frequently about the smartphone and PC industry and has an interest in photography as well.

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