Goldman Sachs confirmed that institutional investors are very bullish on cryptocurrencies

This article is brief:

· Pal’s statement boldly asserts that NDX and Crypto’s growth assets bottomed out before other investments.

· Pal highlighted the leading indicators that the SPX index will perform strongly in 2024, especially compared to the Russell 2000.

Meanwhile, a researcher at K33 Research noted that there is a significant premium to next month’s Bitcoin futures contract.

Raoul Pal, a well-known investor, used udqv data to confirm that 2024 will be a favorable year for cryptocurrency, outpacing the outlook for tech stocks.

“This is where NDX and Crypto’s growth assets are and why they bottomed out before other factors,” the statement declared. ”

PAL predicts that cryptocurrencies will outperform tech stocks

In a series of posts on X (formerly known as Twitter), Pal was a key market indicator and expressed his belief in the potential positive upswing in the cryptocurrency market over the next 12 months.

“But our ISM leading indicator has been rising dramatically. This is usually where SPX exists (part cyclical, part growing) and explains the strength of SPX relative to the Russell 2000 (RTY) or commodities…”

Global Macro Investor Chart. Source: Raoul Pal

In addition, he predicts that within a year, the cryptocurrency market could see significant growth.

“Using our GMI Financial Health Index, we can look ahead to the next 11 months, indicating that 2024 will be a strong year. That’s where NDX and Crypto’s growth assets come in, and why they’ve bottomed out before everything else…”

Meanwhile, Vetle Lunde, a researcher at K33 Research, outlined the Chicago Mercantile Exchange’s (CME) expectations that the price of Bitcoin will rise in the future:

Lunde said. "There are a lot of CME bulls. ATH OI, there is a large premium. ”

He further noted that the difference between the Bitcoin spot price and the futures contract is a good indicator of bullish sentiment:

"Since its launch, Bitcoin’s next-month contract has only traded higher than the front-month contract three times. ”

Recent rumors surrounding the upcoming Bitcoin halving

Recently, there has been a lot of speculation about how the crypto market will perform over the next twelve months. This is especially true considering that Bitcoin is expected to halve in April 2024.

On Nov. 12, the media reported analysts’ predictions for capitalizing on the market shift. Also, turn a small amount of Bitcoin into a large six-figure amount.

According to one analyst’s model, traders should buy Bitcoin six months before the halving and sell it 18 months after the halving.

The move is said to take advantage of Bitcoin’s cynical pattern and seize the sharp price increase brought about by the Bitcoin halving, while avoiding the subsequent bear market.