According to former Goldman Sachs executive and macroeconomic expert Raoul Pal, the digital asset market is currently on the verge of a rebound, noting: “Cryptocurrencies are not driven by business cycles and Bitcoin halvings, but by global liquidity, so this is a global M2 deviates from trend. Maybe halving the supply of bitcoin every four years is a factor, but when you put more liquidity into the market, it causes more people to allocate funds to digital assets with reduced supply, which is essentially Halving. Remember that digital assets are not a cyclical asset, but a network adoption model, so don’t go back to where they were like oil and commodities.”
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