Benzinga - Macro expert and former Goldman Sachs (NYSE:GS) executive Raoul Pal remarked that Bitcoin (CRYPTO: BTC) has performed best in seven of the last 10 years, gaining 114,000% since 2013.
What Happened: However, Pal told his 992,000 followers on Twitter that in years Bitcoin wasn't the best performing, “it was the worst performing” asset.
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Interesting to see that in the last 10 years BTC has been the best-performing asset in 7 out of those 10 years. In the years it wasn't the best performing, it was the worst performing!
However, since 2013:
BTC is up 114,00%
NDX +392%
SPX +203%
Fed Balance Sheet +201%#Bitcoin pic.twitter.com/vYa2rBPv0f
— Raoul Pal (@RaoulGMI) December 13, 2022Upon being asked by a Twitter user how Bitcoin has performed in 2022, Pal said “worst performing.”
The user responded in the same thread stating: “Same in 2018 and 2014.”
Pal added, “Interestingly [BTC) is the only asset class that dropped more than 50% in its down years.”
On Dec.12, Pal noted that the magic level in Bitcoin is 20%. “Every time it got there it was the cyclical low or preceded a larger leg higher in an early bull market.”
Something I've noticed in the past is episodes of low 30-day realized volatility have coincided with lows in the crypto market...The magic level in BTC is 20%... every time it got there it was the cyclical low or preceded a larger leg higher in an early bull market. 1/ pic.twitter.com/GidW9EtXCa
— Raoul Pal (@RaoulGMI) December 12, 2022
Price Action: At the time of writing, Bitcoin was trading at $17,806, up 3.62% in the last 24 hours, according to Benzinga pro data.Read Next: Bitcoin, Ethereum, Dogecoin Move Up In Defiance Of Binance's Outflow Troubles — Analyst Says This Is What Will It Take For BTC Rally To Continue
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