Crypto cycle is playing out ‘spookily similar’ to 2017: Raoul Pal
Real Vision CEO Raoul Pal says macroeconomic data suggests the current crypto cycle could extend into Q2 2026.
The current crypto market is mirroring the pattern seen in 2017 when Bitcoin posted a steady uptrend throughout the year before skyrocketing in December, says crypto research platform Real Vision CEO Raoul Pal.
“It’s spookily similar to 2017,” Pal said in a video on Thursday. Pal said he is starting to forecast a longer crypto cycle this time around given that the business cycle score — a macroeconomic model he uses to track where the global economy is in the broader cycle — is “still below 50” and it generally “takes a while to climb up.”
Bitcoin (BTC) started 2017 trading around $1,044 before reaching $2,187 by May 31 and closing the year at $14,156, an approximate 1,255% increase from its price at the beginning of the year, according to CoinMarketCap data.
