Crypto Price Prediction Post Bitcoin Halving

In a recent interview, Raoul Pal, a prominent global macro investor, shared his insights on the crypto market’s future trajectory, particularly in 2024. He opened the discussion by highlighting the astonishing pace of adoption that cryptocurrencies are experiencing, comparing it to the rapid growth of the internet but at double the speed. Analysts predict a substantial milestone in the crypto space, with a billion active wallets expected by the end of 2023, soaring to an impressive four billion by 2030.

Pal points out that Bitcoin’s value has grown rapidly, following a pattern similar to the 2016-2017 bull market boom. He mentions that the highly anticipated Bitcoin Halving event, expected this week, could push prices even higher. He explains that in the past, after halving events in 2016 and 2020, Bitcoin’s value soared from a few hundred dollars to tens of thousands. 

BTC Price To Hit $200,000 in This Cycle?

This suggests that if the market cycle continues as before, the halving could greatly impact Bitcoin’s price. While acknowledging its significance, he suggests that its true impact lies more in signaling the onset of “crypto summer” than being a game-changer.

He further projects a potentially remarkable surge in Bitcoin’s price, foreseeing it reaching as high as $200,000 by the end of the current cycle. Moreover, he entertains the possibility of a full-blown bubble cycle, which could propel Bitcoin’s price to even greater heights, potentially surpassing $400,000.

Pal advises caution with altcoins

He is clear about his 2024 crypto predictions, including altcoin season, when alternative cryptocurrencies rally. When Bitcoin hits new highs, investors look for bigger returns in altcoins, he says. However, he advises against cryptocurrency overexposure. 

Pal recommends allocating 90% of a portfolio to basic assets like Bitcoin, Ethereum, and Solana for sensible investing. Allocating the remaining 10% to higher-risk cryptocurrencies allows for large returns while limiting losses.

Pal’s Bullish Outlook on Solana

Pal’s favorite bet for this crypto cycle is Solana, a choice he made last year, shifting from Ethereum. He’s excited about its potential to surge, much like it did in the previous cycle. He compares Solana to a superhero and is looking for the next big hero in the crypto world.

Pal also talks about Fire Dancer, a super-fast validator for Solana, which could make trading lightning-fast. But he warns against rushing into risky investments and advises keeping your tokens safe.