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"People Do Not Know What's Happening!" | Raoul Pal Latest Crypto News 2022

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“People Do Not Know What’s Happening!” | Raoul Pal Latest Crypto News 2022

Macro analyst Raoul Pal gave a 1-hour “Ask Me Anything”, in which he gave an update on where he sees the market going after the Jackon Hole speech from Federal Reserve Chairman Jerome Powell. Powell’s comments were hawkish, as he made it clear that fighting inflation is the Fed’s top priority and that even if some “pain” is required, the central bank would continue raising interest rates and shrinking its balance sheet “for some time.” The summer rally across traditional markets seemed to have come to an end, as the S&P 500 has dropped in all three trading days since the speech and is now down over 5% from Thursday’s closing price. The tech-heavy Nasdaq, which is more sensitive to Fed policy, has dropped nearly 7% over the same period. Crypto has dropped slightly as well, as Bitcoin is down 5.4% in the past 7 days, trading for $20,395.46, while Ethereum is down 3.5% in the past 7 days, trading for $1,607.45. Raoul foresees a steep recession ahead steeper than most people believe will happen. But simultaneously, he believes crypto has bottomed and while a recession is in play, crypto will go up.

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Raoul Pal: Ask Me Anything 𝗟𝗜𝗩𝗘
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