{"id":606038,"date":"2024-05-02T02:00:36","date_gmt":"2024-05-02T02:00:36","guid":{"rendered":"https:\/\/uniquehot.com\/?p=606038"},"modified":"2024-06-11T06:57:59","modified_gmt":"2024-06-11T06:57:59","slug":"20-bitcoin-correction-temporary","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/20-bitcoin-correction-temporary\/","title":{"rendered":"Finance Expert Raoul Pal Says 20% Bitcoin Correction Only Temporary As Euphoria Will Return"},"content":{"rendered":"

Co-founder and Chief Executive Officer (CEO) of Real Vision, <\/span>Raoul Pal<\/span><\/a> has shed light on the current market state and the future outlook of Bitcoin, the world\u2019s largest cryptocurrency. Despite the cryptocurrency <\/span>witnessing declines<\/span><\/a> of more than 15%, the financial expert has uncovered a significant pattern that indicates a potential bull flag following Bitcoin\u2019s price correction.\u00a0<\/span><\/p>\n

Crypto Expert Unveils \u201cBanana Zone\u201d Rally For Bitcoin<\/h2>\n

In an X (formerly Twitter) post published on Tuesday, April 28, Pal <\/span>shared<\/span><\/a> a yearly chart depicting Bitcoin\u2019s price movements from October 2023 to April 2024. At the time of writing, <\/span>Bitcoin\u2019s price is trading below the $60,000 mark<\/span><\/a>, at $59,185, marking monthly declines of 15.12% and weekly lows of 11.31%, according to CoinMarketCap.\u00a0<\/span><\/p>\n

Related Reading: Ethereum Flashes Bullish Signals, Can It Rally 50% From Here?<\/a><\/div>\n

The crypto analyst has suggested that <\/span>Bitcoin\u2019s recent price correction<\/span><\/a> was a temporary setback. He predicts that once the market fully refreshes, what he calls \u201cthe Banana zone\u201d will kick in. He also described Bitcoin\u2019s recent price declines as a \u201cpause that refreshes.\u201d\u00a0<\/span><\/p>\n

The pause emphasizes the final days of the <\/span>crypto spring<\/span><\/a>, a period marked by renewed optimism after bearish markets. A prime illustration of this phase occurred when <\/span>Bitcoin surged to new all-time highs<\/span><\/a>, surpassing $73,000 in March, following its decline from 2022 to 2023.\u00a0<\/span><\/p>\n

On the other hand, the Banana zone represents a phase characterized by intense market excitement and the <\/span>possibility of significant price increases<\/span><\/a>. However, Pal has described this distinctive period as \u201cwhen the market begins to anoint the new big L1 or L2, which explodes even vs SOL.\u201d<\/span><\/p>\n

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 <\/span>Bitcoin predictions.\u00a0<\/span><\/a><\/p>\n

In the chart, the <\/span>price of Bitcoin<\/span><\/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 <\/span>suggested<\/span><\/a> that Bitcoin\u2019s price action from 2022 to 2024, starting at $50,000 could potentially skyrocket to a new all-time high of $300,000.\u00a0<\/span><\/p>\n

Crypto Summer Is The Start Of Altcoin Season<\/h2>\n

Pal has <\/span>predicted<\/span><\/a> that after the crypto spring, a new season for cryptocurrencies will occur, termed \u201cthe crypto summer.\u201d The financial expert has confirmed that this period will be the <\/span>start of the altcoin season<\/span><\/a>, highlighting that it is typically marked by an intense bubble in the crypto fall.\u00a0<\/span><\/p>\n

Related Reading: Crypto Funds Mark 3rd Consecutive Weeks Of Outflows With $435 Million In Withdrawals<\/a><\/div>\n

During <\/span>the crypto summer<\/span><\/a>, Pal projects that Ethereum would begin to <\/span>outperform Bitcoin <\/span><\/a>while Solana would accelerate its outperformance of both Bitcoin and <\/span>Ethereum<\/span><\/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.\u00a0<\/span><\/p>\n

He predicts another two or more \u201cnasty corrections\u201d triggered by excessive leverage before the onset of the Banana zone. Additionally, Pal has indicated that three or four <\/span>cryptocurrencies are set to lead the altcoin season<\/span><\/a>, with one particular cryptocurrency emerging as the \u201cBig new entrant,\u201d much like <\/span>Solana<\/span><\/a> did during the previous cycle alongside Avalanche and Polygon.<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC crashes below $60,000 support | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from RBK, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Co-founder and Chief Executive Officer (CEO) of Real Vision, Raoul Pal has shed light on the current market state and the future outlook of Bitcoin, the world\u2019s largest cryptocurrency. Despite the cryptocurrency witnessing declines of more than 15%, the financial expert has uncovered a significant pattern that indicates a potential bull flag following Bitcoin\u2019s price correction.\u00a0 Crypto Expert Unveils \u201cBanana Zone\u201d Rally For Bitcoin In an X (formerly Twitter) post published on Tuesday, April 28, Pal shared a yearly chart depicting Bitcoin\u2019s price movements from October 2023 to April 2024. At the time of writing, Bitcoin\u2019s price is trading below the $60,000 mark, at $59,185, marking monthly declines of 15.12% and weekly lows of 11.31%, according to CoinMarketCap.\u00a0 Related Reading: Ethereum Flashes Bullish Signals, Can It Rally 50% From Here? The crypto analyst has suggested that Bitcoin\u2019s recent price correction was a temporary setback. He predicts that once the market fully refreshes, what he calls \u201cthe Banana zone\u201d will kick in. He also described Bitcoin\u2019s recent price declines as a \u201cpause that refreshes.\u201d\u00a0 The pause emphasizes the final days of the crypto spring, a period marked by renewed optimism after bearish markets. A prime illustration of this phase occurred when Bitcoin surged to new all-time highs, surpassing $73,000 in March, following its decline from 2022 to 2023.\u00a0 On the other hand, the Banana zone represents a phase characterized by intense market excitement and the possibility of significant price increases. However, Pal has described this distinctive period as \u201cwhen the market begins to anoint the new big L1 or L2, which explodes even vs SOL.\u201d 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 Bitcoin predictions.\u00a0 In the chart, the price of Bitcoin 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 suggested that Bitcoin\u2019s price action from 2022 to 2024, starting at $50,000 could potentially skyrocket to a new all-time high of $300,000.\u00a0 Crypto Summer Is The Start Of Altcoin Season Pal has predicted that after the crypto spring, a new season for cryptocurrencies will occur, termed \u201cthe crypto summer.\u201d The financial expert has confirmed that this period will be the start of the altcoin season, highlighting that it is typically marked by an intense bubble in the crypto fall.\u00a0 Related Reading: Crypto Funds Mark 3rd Consecutive Weeks Of Outflows With $435 Million In Withdrawals During the crypto summer, Pal projects that Ethereum would begin to outperform Bitcoin while Solana would accelerate its outperformance of both Bitcoin and Ethereum. 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.\u00a0 He predicts another two or more \u201cnasty corrections\u201d triggered by excessive leverage before the onset of the Banana zone. Additionally, Pal has indicated that three or four cryptocurrencies are set to lead the altcoin season, with one particular cryptocurrency emerging as the \u201cBig new entrant,\u201d much like Solana did during the previous cycle alongside Avalanche and Polygon. BTC crashes below $60,000 support | Source: BTCUSD on Tradingview.com Featured image from RBK, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":606059,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,679,1119,89185,1122,1144,78790],"class_list":["post-606038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nFinance Expert Raoul Pal Says 20% Bitcoin Correction Only Temporary As Euphoria Will Return<\/title>\n<meta name=\"description\" content=\"Co-founder and CEO of Real Vision, Raoul Pal has shed light on the current market state and the future outlook of Bitcoin.\" \/>\n<meta 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Finance Expert Raoul Pal Says 20% Bitcoin Correction Only Temporary As Euphoria Will Return","url":"http:\/\/uniquehot.com\/news\/20-bitcoin-correction-temporary\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/20-bitcoin-correction-temporary\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Bitcoin_d4cedf.jpeg?resize=200%2C168","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Bitcoin_d4cedf.jpeg?fit=299%2C168"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt"],"dateCreated":"2024-05-02T02:00:36Z","datePublished":"2024-05-02T02:00:36Z","dateModified":"2024-06-11T06:57:59Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Finance Expert Raoul Pal Says 20% Bitcoin Correction Only Temporary As Euphoria Will Return\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/20-bitcoin-correction-temporary\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/20-bitcoin-correction-temporary\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin_d4cedf.jpeg?resize=200%2C168\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin_d4cedf.jpeg?fit=299%2C168\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2024-05-02T02:00:36Z\",\"datePublished\":\"2024-05-02T02:00:36Z\",\"dateModified\":\"2024-06-11T06:57:59Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Bitcoin_d4cedf.jpeg?fit=299%2C168","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/606038"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=606038"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/606038\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/606059"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=606038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=606038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=606038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}