Raoul Pal Predicts Bitcoin Could Reach $450,000 in Supercycle
Raoul Pal, co-founder of Real Vision, addressed the Sui Basecamp, predicting a “liquidity-driven supercycle” for crypto, with Bitcoin potentially reaching $450,000. He based his thesis on global liquidity and debt cycles.
Key Points from Pal's Address
- Bitcoin's price correlates strongly with global liquidity (90%) and the Nasdaq (95%).
- The driving force behind crypto cycles is the debt refinancing cycle rather than halving events.
- Pal described a systemic liquidity injection by central banks to prevent economic collapse.
- He referred to Bitcoin as the best-performing asset historically, with a return of 27.5 million percent since 2012.
- Current market conditions are misinterpreted; the market has already factored in recent economic weakness.
- Pal believes we are entering a high-growth phase for crypto, termed the “banana zone.”
- He emphasizes caution against overtrading and leveraging during corrections.
- Pal anticipates the current cycle may extend into Q1 or Q2 of 2026.
At press time, Bitcoin was trading at $94,191.
