Solana

Bitcoin

Summer

Banana

Avalanche

Co-founder and Chief Executive Officer (CEO) of Real Vision, <a href="https://bitcoinist.com/hodl-cryptoadopted-twice-as-fast-internet/" rel="nofollow">Raoul Pal</a> has shed light on the current market state and the future outlook of Bitcoin, the world’s largest cryptocurrency. Despite the cryptocurrency <a href="https://bitcoinist.com/bitcoin-price-suffers-sharp-decline/" rel="nofollow">witnessing declines</a> of more than 15%, the financial expert has uncovered a significant pattern that indicates a potential bull flag following Bitcoin’s price correction.&nbsp; 
<h2 id="crypto-expert-unveils-banana-zone-rally-for-bitcoin">Crypto Expert Unveils “Banana Zone” Rally For Bitcoin</h2> 
In an X (formerly Twitter) post published on Tuesday, April 28, Pal <a href="https://x.com/raoulgmi/status/1784590193216880726?s=46" rel="nofollow">shared</a> a yearly chart depicting Bitcoin’s price movements from October 2023 to April 2024. At the time of writing, <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-nosedives-60k/">Bitcoin’s price is trading below the $60,000 mark</a>, at $59,185, marking monthly declines of 15.12% and weekly lows of 11.31%, according to CoinMarketCap.&nbsp; 
The crypto analyst has suggested that <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-grinds-lower-62k/">Bitcoin’s recent price correction</a> was a temporary setback. He predicts that once the market fully refreshes, what he calls “the Banana zone” will kick in. He also described Bitcoin’s recent price declines as a “pause that refreshes.”&nbsp; 
The pause emphasizes the final days of the <a href="https://bitcoinist.com/bitcoin-trading-volume-15-month/" rel="nofollow">crypto spring</a>, a period marked by renewed optimism after bearish markets. A prime illustration of this phase occurred when <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-whale-217-million-profit-btc-73000/">Bitcoin surged to new all-time highs</a>, surpassing $73,000 in March, following its decline from 2022 to 2023.&nbsp; 
On the other hand, the Banana zone represents a phase characterized by intense market excitement and the <a href="https://www.newsbtc.com/news/bitcoin/waiting-for-the-bitcoin-bull-run-to-resume-heres-the-indicator-to-watch-for/">possibility of significant price increases</a>. However, Pal has described this distinctive period as “when the market begins to anoint the new big L1 or L2, which explodes even vs SOL.” 
The financial expert noted that once the Banana zone commences, it may pick up momentum towards the end of the year and continue well into 2025, potentially reaching peak mania. He also shared a historical pictorial analysis illustrating his <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-prediction-to-42000/">Bitcoin predictions.&nbsp;</a> 
In the chart, the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-trims-gains-63500/">price of Bitcoin</a> witnessed a Banana zone rally from $1,000 to $5,000 between 2014 and 2016 and from $10,000 to $60,000 between 2019 and 2020. Basing his predictions on this unique historical pattern, Pal <a href="https://x.com/raoulgmi/status/1784590203807555642?s=46" rel="nofollow">suggested</a> that Bitcoin’s price action from 2022 to 2024, starting at $50,000 could potentially skyrocket to a new all-time high of $300,000.&nbsp; 
<h2 id="crypto-summer-is-the-start-of-altcoin-season">Crypto Summer Is The Start Of Altcoin Season</h2> 
Pal has <a href="https://x.com/raoulgmi/status/1784590210065387784?s=46" rel="nofollow">predicted</a> that after the crypto spring, a new season for cryptocurrencies will occur, termed “the crypto summer.” The financial expert has confirmed that this period will be the <a href="https://www.newsbtc.com/altcoin/altcoin-season-heres-what-glassnode-data/">start of the altcoin season</a>, highlighting that it is typically marked by an intense bubble in the crypto fall.&nbsp; 
During <a href="https://www.newsbtc.com/news/what-is-macro-crypto-summer-dont-miss-out-says-expert/">the crypto summer</a>, Pal projects that Ethereum would begin to <a href="https://www.newsbtc.com/news/ethereum/ethereum-outperforms-bitcoin-altcoin-season-on/">outperform Bitcoin </a>while Solana would accelerate its outperformance of both Bitcoin and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-plunges-2800/">Ethereum</a>. The financial CEO disclosed that the crypto summer and fall are often confusing, as cryptocurrencies tend to adopt a narrative and may get caught up in the prevailing euphoria.&nbsp; 
He predicts another two or more “nasty corrections” triggered by excessive leverage before the onset of the Banana zone. Additionally, Pal has indicated that three or four <a href="https://www.newsbtc.com/crypto/altcoin-season-arrived-watch-out-these-6-cryptos/">cryptocurrencies are set to lead the altcoin season</a>, with one particular cryptocurrency emerging as the “Big new entrant,” much like <a href="https://www.newsbtc.com/news/solana/solana-projected-to-reach-500-this-year-despite-market-meltdown-expert-predicts/">Solana</a> did during the previous cycle alongside Avalanche and Polygon. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/lXCtDhR1/" alt="Bitcoin price chart from Tradingview.com" width="3286" height="1530">

Finance Expert Raoul Pal Says 20% Bitcoin Correction Only Temporary As Euphoria Will Return

目录

NewsBTC

发布于 2024年5月2日的其他文章

PayPal Integration Boosts Crypto Trading on MoonPay: New Opportunities for Bitcoin (BTC) and Ethe...

Strengthening Financial Compliance: Nigeria’s Fintech Sector Faces New Onboarding Restrictions

Next Cryptocurrency To Explode Wednesday, May 1 — Optimism, Cosmos, Starknet, Hedera

Shiba Inu (SHIB) Slumps 12% Weekly as Investors Eye AI-Powered Dog-Themed Cryptocurrencies

Pepe Coin Futures Buying Signals Price Rally

Binance ties SAFU fund to USDC: Is the fund missing out on potential gains?

订阅我们免费的电子期刊，获取每日最新加密领域动态！