The crypto market is currently facing volatility as major digital assets have recently gone under in the past few days. Bitcoin made a statement at the beginning of the year as the digital asset touched highs upon highs as the days rolled by. It is currently battling volatility as it has been forced to remain under the $30,000 price mark.
Making a case for the digital asset reaching $50,000 before the end of next month is Raoul Pal, the current CEO of Real Vision. According to the former Goldman Sachs employee, the digital asset could go all the way to break above the $50,000 price mark after this current volatility settles.
Bitcoin is still trying to overcome the $30,000 psychological barrier
The leading digital asset has had to endure many uncertainties in the last few weeks coupled with trying to break above the psychological barrier at $30,000. Various speculations trailed how the new administration would view the digital asset in America as Joe Biden was sworn in as president some days back. Another major event that surely impacted the price of the digital asset was the recent double-spend news that shook the entire crypto market.
Even though the news has been quashed as fake, the digital asset world was on its toes as various analysis firms tried to confirm if a double-spend attack took place, which saw someone double-spend $2. On Raoul Pal’s part, he notes that even though this period of consolidation has been challenging for Bitcoin, the digital asset still has what it takes to register another bull run, which could see the asset touch $50,000.
He notes that once all the modalities are right and Bitcoin climbs above the recent FUD, it would touch $50,000 before March. Pal mentions that he is still an ardent supporter of the digital asset in the long run.
Pal says he holds 10 other altcoins
Pal, who previously held only Bitcoin and Ethereum because of his bullish stance towards digital assets, has announced that his portfolio has ten additional assets. He said that even though he is putting 5% of his total net worth into small-cap digital assets, he is not ready to come out of the closet regarding their details.
Arguing in a statement, the Bitcoin and Ethereum protagonist mentioned that he was well aware that numerous people were very interested in knowing the assets he keeps hiding from Bitcoin and Ethereum. He says he is not yet ready to divulge the details to the public as he is still waiting for the right time to let them in on his holdings.
Backing up his claims, Pal mentioned that he is not holding on to his investment details because of any analysis as he holds the same amount of other altcoins. “I don’t want things to look like I’m pushing people to invest in a type of digital asset because I hold them; it is just the normal things with people who hold assets,” Pal said.