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29 October 2020

'Enormous Wall of Money' Coming Into Bitcoin, Price to Reach $1 Million in 5 Years, Says Raoul Pal | Bitcoin News

'Enormous Wall of Money' Coming Into Bitcoin, Price to Reach $1 Million in 5 Years, Says Raoul Pal | Bitcoin News


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'Enormous Wall of Money' Coming Into Bitcoin, Price to Reach $1 Million in 5 Years, Says Raoul Pal.

He attributes the price increase to adoption by large pools of investors and the “enormous wall of money” coming into bitcoin, rather than because “the world is collapsing.”.

Former hedge fund manager Raoul Pal shared his view on the economy, gold, and bitcoin last week in a podcast interview with Daniela Cambone of Stansberry Research.

And businesses don’t have enough cash flow, they’re closing in droves and that’s what I called the insolvency phase.” The former hedge fund manager added, “The only answer is more from the central banks, so that’s why I started to buy more and more bitcoin.”.

Pal has a bullish forecast on the price of bitcoin, predicting that it will be $1 million within five years.

Emphasizing that “the pipes aren’t there” to allow large institutional investors to invest in bitcoin yet, he said, “but that’s coming … it’s on everybody’s radar screen and there’s a lot of smart people working on it.” Pal further shared:

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Bitcoin and Ether Market Update October 29, 2020 | BTCMANAGER
published: 45 minutes ago
Total crypto market cap lost 1.4 billion of its value for the period since Monday morning and now stands at $395.2 billion. The top ten coins were mostly in red for the last 24 hours with Polkadot (DO...

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