Crypto Price Prediction Post Bitcoin Halving: Should You Buy, Hold or Sell?

Renowned global macro investor Raoul Pal recently shared his insights on where the cryptocurrency market is heading, especially focusing on 2024. To kick things off, he compared the rapid adoption of cryptocurrencies to the early days of the internet, but at a much faster pace.

Analysts predict that there could soon be a billion active cryptocurrency wallets, skyrocketing to an impressive four billion by 2030.

Bitcoin’s Journey Through Time

Pal highlighted Bitcoin’s rapid growth, drawing parallels to the bullish trends seen in 2016-2017. He also talked about the upcoming Bitcoin Halving event, which he believes could push prices even higher. Historical data supports this idea, showing that after previous halving events, Bitcoin’s value surged significantly.

While acknowledging the importance of the halving event, Pal suggests that its true significance lies in signaling the start of what he calls “crypto summer” rather than being a game-changer in itself.

This Might Interest You: Bitcoin Halving 2024: How Will It Impact Your Bitcoin ETFs? 

Bitcoin Price Predictions

This suggests that if the market cycle continues as before, the halving could greatly impact Bitcoin’s price. While acknowledging its significance, he suggests that its true impact lies more in signaling the onset of “crypto summer” than being a game-changer.

Looking ahead, Pal envisions Bitcoin reaching as high as $200,000 by the end of the current cycle. He even entertains the possibility of a full-blown bubble cycle, which could drive Bitcoin’s price even higher, potentially surpassing $400,000.

Should You Ride the Altcoin Wave?

He is clear about his 2024 crypto predictions, including altcoin season, when alternative cryptocurrencies rally. When Bitcoin hits new highs, investors look for bigger returns in altcoins, he says. However, he advises against cryptocurrency overexposure. 

For sensible investing, Pal recommends putting 90% of your portfolio into basic assets like Bitcoin, Ethereum, and Solana, while allocating the remaining 10% to higher-risk cryptocurrencies.

Read Now: Crypto Expert Lark Davis Reveals 9 Altcoins Set for 9x Growth in 2024

Pal’s Top Pick

Pal is particularly bullish on Solana, which he started favoring over Ethereum last year. He sees Solana as a rising star in the crypto world, comparing it to a superhero poised for greatness.

Pal also mentions Fire Dancer, a fast validator for Solana that could revolutionize trading. But he urges caution, advising against rushing into risky investments and emphasizing the importance of keeping your tokens safe.