U.Today – Bearish Market Views Not Shared by Raoul Pal

While more cryptocurrency traders are adopting a bearish stance, economist Raoul Pal expresses no concerns about the market’s current phase. He discusses memo coin performance and assesses his Solana (SOL) investments.

Raoul Pal’s Take on Crypto Drop: “Literally Nothing is Going On”

Despite a 5% decline in total cryptocurrency capitalization over the past 24 hours, Raoul Pal asserts that there is literally nothing happening in the markets, sharing this sentiment with his 1 million followers on X.

Pal describes the performance of Bitcoin (BTC) and major altcoins as typical activity for seasoned macro experts.

He highlights the impressive performance of a novel Solana-based meme coin, Church of the Smoking Chicken Fish (SCF), and claims that widespread pessimism in the market is mere “noise.” This perspective is echoed by BitMEX founder Arthur Hayes, who characterizes the present conditions as “shopping time.” Hayes links current volatility to macroeconomic factors in the U.S. and Japan.

Is Bitcoin (BTC) Cycle Near its End?

When questioned about his Solana (SOL) assets, Real Vision CEO Raoul Pal mentioned that he initially invested at $30, indicating a 400% profit despite a recent 20% drop in Solana’s value over five days.

In contrast, some voices on Crypto Twitter are less optimistic. Trader Henrik Zeberg warns that the market might face its largest collapse since the 1929 Great Depression within two months, suggesting that a major macro top could be reached this October. Additionally, several prominent traders believe Bitcoin (BTC) will not reach new highs in the next four years.

This article was originally published on U.Today.