U.Today – While more and more cryptocurrency traders and analysts are sharing gloomy views on the current phase of the market, Raoul Pal sees no reason to worry. He also shared his views on the performance of meme coins and revealed whether his bags (SOL) are underwater.
Raoul Pal Shares Sobering Views on Cryptocurrency Decline: ‘Literally Nothing Is Happening’
Even though cryptocurrency net capitalization is down 5% in the past 24 hours, there is literally nothing happening in the markets, economist Raoul Pal tells his millions of followers on X.
So what is happening with (BTC) and other altcoins looks like a normal day in the trenches to a seasoned macroeconomics expert.
Pal also mentioned the impressive success of Church of the Smoking Chicken Fish (SCF), a novel, quirky meme coin based on the Solana motif.
He added that the pessimism in this market is nothing more than “noise.” Pal’s comments were echoed by BitMEX founder Arthur Hayes. As previously reported by U.Today, Hayes calls these days “buying time.”
The BitMEX founder attributes the current spikes in volatility to macroeconomic processes in the US and Japan.
Is the Bitcoin (BTC) cycle coming to an end?
When asked about the performance of his Solana (SOL) positions, the Real Vision CEO admitted that he entered the asset at $30. As such, he must be enjoying a 400% gain, even after Solana (SOL) lost more than 20% in five days.
However, as U.Today previously reported, some voices on Crypto Twitter do not share Pal and Hayes’ enthusiasm. For example, trader Henrik Zeberg said that we could be two months away from the worst crash since the Great Depression of 1929.
He “moved the deadline” for a major macro top to October. Furthermore, many prominent traders insist that we will not see modern highs for Bitcoin (BTC) in the next four years.
