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One Billion Users will Flood Crypto Markets this Cycle, Says Goldman Sachs Executive

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Former Goldman Sachs executive Raoul Pal predicts that the next wave of liquidity will bring a surge in capital for risk-on assets, including crypto. In an Ask Me Anything (AMA) session, the Real Vision founder predicts that the crypto industry will grow from 300 million to a billion users or more during the next cycle. 

As liquidity comes back into markets, we will see the next rise of the crypto story. And the crypto story will go from 300 million users to a billion users or more in this cycle, Pal said. 

Pal, who is a macro expert, suggests that this growth will bring about new innovations that attract more users. According to Pal, there will be applications and innovations that people haven’t even dreamed of yet, and these will come at scale.

And there will be applications you haven’t dreamt of or things you thought weren’t coming. That will come at scale, whether it’s digital identity, whether its massive cases of Web3, whether it’s DeFi (decentralized finance), or whether it’s something entirely new. Whether it’s ticketing via NFTs (non-fungible tokens), who the hell knows? He continued. 

The growth of the crypto industry has also led to the creation of new applications and use cases. Using NFTs has exploded in recent years, with digital artists and musicians using them to sell their work. NFTs have also been used to sell virtual real estate and even tweets. 

Pal Believes that the Fed Has Stopped Hiking Rates to Control Inflation

Pal foresees the Federal Reserve’s attempt to reel in inflation as the start of a recession. He suggests that the Fed might have paused rate hikes. Pal predicts the Fed will have to reverse course and send markets higher via money printing, just as it did in 2019. Pal suggests that continued acceleration will characterize the next cycle until liquidity slows down. 

“This is exactly what happened in 2019 after the Fed pivot in 2018. The Fed is going to pause soon or has paused. I think they have paused or certainly should pause. And we’ll see this continued acceleration until liquidity slows down at some point, and then we’ll have pauses in the market.”

In addition, Pal expects that there may even be pullbacks if liquidity goes back, but he does not see this happening. Pal expects that acceleration will happen once the market hits the recession and the unemployment side of the equation, which comes later when real money printing and rate cutting really start.

“We may even have pullbacks if liquidity goes back, which I don’t really see. And then we’ll see acceleration as we hit the recession and the unemployment side of the equation, which comes later when the real money printing and rate cutting really starts,” Pal said. 

Pal’s prediction is in line with the general sentiment in the crypto industry. Crypto investors and enthusiasts are optimistic about digital assets’ future and believe that the industry will continue to grow. The adoption of crypto by big companies, including Tesla and PayPal, has also contributed to the industry’s growth.

Crypto has become a popular investment asset among institutional investors. The adoption of digital assets by big companies has also contributed to the industry’s growth. For example, Goldman Sachs announced in May 2021 that it would launch a crypto trading desk. The crypto team at the investment bank helps its clients trade bitcoin futures and non-deliverable forwards. 

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