As yesterday reported, the Bitcoin exchange rate made it once again about the magical five-digit limit of $ 10,000 USD and was able to climb in the lead up to the long-term resistance at $ 10,500. All of this happened within less than an hour. But as fast as the Pump came as quickly as the subsequent crash came on the previous Region to the 9,500 USD. Currently, the Bitcoin exchange rate quoted at the time of writing of the article in 9.530 USD.
However, despite the UPS and downs in the course of the day of yesterday, Tuesday, we want to zoom out a little and look to the bigger picture up. One thing is for sure: the Bitcoin price has now been rejected repeatedly on the resistance at $ 10,500, and thus the probability that the BTC price is this limit in the future to finally break through to tackle a new Bullrun and the Bitcoin exchange rate to new heights, propelled the increase.
Fits to the Macro Investor, Raoul Pal said in an Interview in mid-may that he considers a market capitalization of 10 trillion USD for BTC “reachable”. In this Interview, we want to throw in this article a look. A lot of fun!
Bitcoin exchange rate of USD $ 500,000
The mentioned Interview with Raoul Pal has been led by in the Crypto area is also well-known Max Keiser on the “Keiser Report”. The Interview was on Youtube on 14. In may, shortly after the Halving, at 11. May and the News of 8. May that hedge has invested Fund Manager Paul Tudor Jones in BTC, to be published.
Raoul Pal is the founder and CEO of Global Macro Investor and Real Vision Group and as a hedge Fund Manager and Macro Investor, a supporter of Bitcoin. In short, Pal predicted in the Interview with a Bitcoin price of around $ 500,000 USD, because he thinks according to his own statement, a market capitalization of 10.000.000.000.000 (10 trillion) USD for “easy”.
To this statement, the Pal, because BTC is currently, in his opinion, only a niche Investment, in spite of the attention which reached the Asset in 2017 in the Public, as the Bitcoin price climbed to up to 20,000 USD. The current market capitalisation of around $ 175 billion, which only compare with that of some companies, but not with all Asset classes, could be multiplied accordingly, as soon as BTC gains more and more importance.
Specifically, Pal says:
I think that the assessment in the course of time, if it is the Ecosystem that we believe that it will be (…) – then Yes, a figure of 10 trillion dollars is within this process easily. Thus, it is of a niche asset, and once it is a full asset class, it is for other investable.
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Hedge Fund Manager Paul Tudor Jones as a catalyst
Of particular importance Raoul Pal measures of the News from the 8. May, in the case that the hedge Fund Manager and the investors legend Paul Tudor Jones has invested 1-2% of the capital of the Fund in Bitcoin Futures, and hence to a rise in the Bitcoin exchange rate continues.
The theory of Pal according to Jones and could be due to its awareness and Reputation in the world of Investment as a catalyst for a whole onslaught of hedge Fund that bets on the Bitcoin price.
Raoul Pal speaks almost of a kind of group coercion, and the other hedge-Fund managers are subject to, if the Investment of Jones should go up in BTC:
If it (Bitcoin) generate Alpha, you have no choice.
Away from this in the future, we can look forward, that BTC stands currently, due to many factors, better than ever before. Exciting will be to observe, what is the Bitcoin exchange rate after the initially failed Pump in the direction of 10,500 USD.
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