Ex-Goldman Sachs executive Raoul Pal says the altcoin market cap is on the verge of soaring to new all-time highs (ATHs).

In a new video update, the Real Vision CEO says that the digital assets market could enter “crypto summer” within a month, when Ethereum (ETH), Solana (SOL) and other alts could have massive rallies.

A “crypto summer” generally means increased prices, higher trading volume, bullish market sentiment, more network development and wider adoption.

“It’s very normal for crypto spring for Bitcoin to outperform and then as we come into crypto summer that we’re transitioning into now ETH starts to outperform Bitcoin…

Will it outperform Solana? I very much doubt it. Solana is earlier in the adoption curve so it means the percentage changes are larger.

You can see the start of crypto spring, which was the breakout of this pattern and the slight acceleration. That says we’re getting to warmer days of spring as it were. But really, summer happens when you break the previous all-time high in market cap and things go utterly bananas. So this [chart below is altcoins] excluding Ethereum, so this is the rest of the space, really starting to accelerate and sometime in 2024 we will hit an all-time high market cap of altcoins and this chart will go truly into the banana zone.”

Pal also predicts that the crypto market will have a “crypto fall” similar to the 2013 and 2017 cycles when the market extended rallies even higher. Many analysts believe that crypto runs in four-year cycles and divides the cycles up into four seasons of the year to explain the different phases.

“Let’s talk about crypto summer just in very simplistic terms. Here is the chart of the seasons. So spring is green. We had a great spring this year. Summer is when a lot of the gains start to happen. Fall was tricky last time around. We got a stunted cycle. If you remember that kind of double-toppy style thing.

It was highly unusual. 2017, and 2013 were typical of the fall season. And so we don’t know how this one’s going to play out. I think it plays out more like 2013, 2017, but it’s all assessing the odds as we go. But right now this is the easy year, the summer.”

Pal predicts that crypto summer will begin in the next month to month and a half.

“Very soon, like in the next month, next month and a half, we will start to hit the banana zone. And this is what happens when you hit the banana zone. Things get absolutely wild, which is the really magical part of why this is the greatest macro trade of all time is this part and it’s coming.”

Looking at his chart, Pal suggests that during “crypto summer” Bitcoin (BTC) could soar into the six-figure range, reaching as high as $300,000.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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BitMEX founder Arthur Hayes thinks excessive money printing in the lead-up to November’s US presidential election will drive a surge in Bitcoin (BTC) and crypto prices.

In a new analysis, Hayes argues that major global economic blocs including the US, China, the European Union (EU) and Japan are debasing their currencies to deleverage their balance sheets.

“As we exit the window of weakness that I forecasted would occur due to April 15th US tax payments and the Bitcoin halving, I want to remind readers why the bull market will continue and prices will get sillier on the upside. Rarely in markets do the things that got you here (Bitcoin from zero in 2009 to $70,000 in 2024), get you there (Bitcoin to $1,000,000).

However, the macro setup that created the fiat liquidity surge that powered Bitcoin’s ascent will only get more pronounced as the sovereign debt bubble begins to burst.”

The former BitMEX chief executive says the ongoing political situation in the US gives him confidence that the government will ramp up money printing.

“If you thought it was absurd what the US monetary and political elite did to “solve” the 2008 Global Financial Crisis and COVID, you ain’t seen nothing yet…

As we enter the northern hemispheric summer and decision-makers enjoy a respite from reality, crypto volatility will decline. This is the perfect time to take advantage of the recent crypto dip to slowly add to positions… Whatever the flavor of crypto risk excites you, the next few months will present a golden opportunity to add to positions.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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A widely followed crypto analyst is expressing bullish sentiment on Bitcoin (BTC) days after the halving took place.

The analyst, pseudonymously known as Bluntz tells his 257,100 followers on the social media platform X that Bitcoin is preparing to break out according to price action on the two-hour chart.

Based on the pseudonymous analyst’s chart, Bitcoin appears to form a symmetrical triangle on the two-hour chart. Symmetrical triangle patterns can either be bullish or bearish – bullish if the price breaks out above the upper trend line and bearish if the price breaks down below the lower trend line.

According to the pseudonymous analyst, once Bitcoin overcomes the $67,000 resistance level, “I think the whole market flies”.

Bitcoin is trading at $66,455 at time of writing.

Bluntz also analyzes the Solana-based memecoin dogwifhat (WIF). According to Bluntz, WIF is on the cusp of a breakout after forming an ascending triangle for a period of two weeks on the four-hour chart.

Based on the pseudonymous analyst’s chart, it appears that the memecoin has also formed a three-wave pattern to the downside. According to the Elliott Wave theory, the main trend of the price of an asset moves in a five-wave pattern while a minor correctional trend moves in a three-wave pattern.

WIF is trading at $3.38 at time of writing.

The pseudonymous analyst also offers his take on the Pepe (PEPE) memecoin.

According to Bluntz, Pepe is accelerating upwards. Based on Bluntz’s chart, it appears that Pepe has completed a three-wave pattern to the downside. The three-wave pattern ended at the 0.618 Fibonacci retracement level, based on Bluntz’s chart.

In technical analysis, Fibonacci retracement levels, which are based on Fibonacci numbers, are used to determine potential support and resistance levels. It also appears from the chart that Bluntz’s upside target of around $0.000013 could see Pepe appreciate by around 66% from the current level.

PEPE is trading at $0.00000784 at time of writing.

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