Raoul Pal Warns Stock Market May Trigger Crypto Market Crash
Raoul Pal, a former Goldman Sachs executive, believes that the stock market’s potential decline could harm crypto values in the coming months.
Raoul Pal tells his 925,800 Twitter followers that he’s watching the Nasdaq and believes that, based on technical analysis, the index is on the edge of making lower lows if key support is broken.
“The failure of equities to hold has exposed risk of severe downside if the low is taken out.”
Raoul Pal doesn’t necessarily see new lows in store for crypto markets but warns that current macro conditions are hinting that a major correction is coming, which could drag down digital assets with it.
“Seeing energy stocks, oil commodities, etc. all in the red start to raise the risk of a full ‘correlation’ of one accelerated panic.
The only place to hide would be the dollar and probably bonds (because everyone is short).
And yes, crypto would get caught up too (not new lows).”
Raoul Pal says if crypto ends up in a corrective phase
In a new interview with Real Vision, he thinks it will be more noise within an overall ranging market structure.
“I’m kind of looking for this downside to layer into positions of stuff that I want to get into… Obviously, crypto will get caught up in this and will go lower but I think we’re all used to that going up and down right now. I don’t think it takes out the low, so I just think it’s more noise and we’re in this wide sloppy range we’ve been in for the last year and a bit.”
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