Global macro investor and former Goldman Sachs executive Raoul Pal raised the possibility that the 2025 bull rally that crypto markets are eagerly awaiting may not 0 his statements, Pal suggested that Bitcoin's traditional 4-year cycle has now turned into a 5-year cycle due to macroeconomic factors, and stated that the next peak is expected in the second quarter (Q2) of 1 to Pal, the main factor driving Bitcoin price movements is not the “halving” (half-time), contrary to popular belief, but the global business 2 Pal attributes the main reason for the extension of the cycle to the ISM (Institute for Supply Management) Purchasing Managers Index, an indicator of the Business Cycle of the US 3 News: Is CZ Behind the Most Popular Altcoin of Recent Times?
He Made a Statement According to Pal's findings: Debt Maturity Extension: The extension of the average maturity of US debt from 4 to 5 years between 2021 and 2022 also postponed the business cycle by one 4 and the Business Cycle: According to analysts, cryptocurrency market price movements follow the ISM index. A reading below 50 indicates contraction, while a reading above indicates economic 5 noted that since its peak in 2021, the ISM has remained below 50, one of the longest contractions in 6 on this 5-year cycle driven by debt maturity extension, Pal predicts that the peak of the ISM, and therefore Bitcoin, will shift to the second quarter of 2026.
“Currently, the ISM is above 50 and the economy is not 7 global economy is not yet in an expansion and Bitcoin is following suit,” Pal said. *This is not investment 8 Reading: Raoul Pal Reveals Predictions That May Disappoint Those Anticipating a Bull Market in Cryptocurrencies in 2025
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