In an interview with Cointelegraph, seasoned investor Raoul Pal, CEO of Real Vision, predicted that the “bull market” will kick off in the second quarter of 2024 during the Bitcoin halving event.
Pal emphasized the significance of the hype surrounding halving and macroeconomic factors that will play a crucial role in driving the market upwards. Notably, the Bitcoin halving cycle coincides with the macroeconomic cycle of loose monetary policy and low interest rates.
Especially among the catalysts expected to drive the cryptocurrency market in the coming year, central bank interest rate cuts and potential financial stimulus measures, possibly occurring before the U.S. presidential election, are seen as primary catalysts.
Regarding price targets, Raoul Pal did not provide specific predictions. However, looking at past performance, Bitcoin could potentially double or even triple its all-time high.