Raoul Palsays that while negative sentiment in the crypto industry is at an all-time high, its fundamentals remain strong.
Speaking in a new interview with Tom Bilyeu, Pal compared investor negativity to the Great Recession and the Dot.com bubble. Pal believes the current negative is even higher than before.
“We are almost at the peak of madness. There was an earthquake and everyone became more sensitive. I have never seen such high sentiment in crypto or the stock market in my life. Everyone on Twitter is negative. I shared that the NASDAQ may have priced in a major recession. This chart contained a relatively bullish chart. I bought hundreds of evap full of ducks…
Koinfinans.com As we have reported, there is anger, anger and fear on a scale that was not present in 2008, 2001. I’ve never seen anything like this before.”
However, Pal cryptocurrency He thinks that the industry is on the rise with the increase in adoption by institutional investors. Pal pointed out that Big tech is increasingly intertwined with the crypto industry.
“Has something changed in the cryptocurrency world? Or has it not changed? Is technology actually being used? Did Solana have an NFT deal with META? Yes, he did. He works with Solana at Google. On the other hand, did DeFi fail? The answer is obvious, no. Does DeFi work? Yes, we can see that too. Does the crypto trade within a certain value? Yes. Is the number of people in the ecosystem increasing? Obviously not much, but we have achieved a certain rate.
But if you look at the past cycle, i.e. from the peak of 2017 to the lowest in 2019, we lost about 80% of the active wallet addresses. Looking back now, we lost about 30% because adoption continues to increase.”
Raoul Pal: Stop Looking at the Charts Every Day!
Pal thinks the investors’ approach should be ‘long term’. Pat says it’s important to be patient in order to buy and make a profit in the future as panic drops occur.
“This is actually a kind of psychological game. Obviously, it’s a long-term game. We entered this sector, but we did not have a dream of becoming rich in a year or two. See, here’s the thing. If you buy and hold on to the panic, you win. However, you should also stay away from leveraged transactions. You have to know what you are doing and act rationally. Stop checking the market every day and see where you are in ten years.”
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.