The post Pal Defies Crypto Bloodbath! Invests in Discounted NFTs (Smart Move?) appeared first on Coinpedia Fintech News
The crypto market recently experienced a dramatic “bloodbath,” with its TOTAL index rising by 3.2% and wiping out $72 billion in value. This led to over $160 million in liquidations, primarily impacting bullish investors. Amidst this chaos, Raoul Pal, known for his strategic insights into the crypto space, took a distinctive approach.
Read on to know how Pal stood out!
An Unconventional Strategy
Rather than panic-selling, Pal used his Ethereum reserves to buy discounted digital art. He purchased works from well-known NFT artists XCOPY and Beeple, following his philosophy of buying assets “when there’s blood in the streets.”
Pal’s NFT investments have sparked speculation about the uncertain future of this sector. Despite recent gains in the broader crypto market, NFTs have lagged behind. Pal’s move suggests a growing interest among major players, hinting at a possible shift in market sentiment toward NFTs.
Predicting a Market Surge: The “Banana Zone”
Apart from his NFT investment strategy, Pal has also predicted a significant market surge in Q4 of the election year, terming it as the “banana zone”. According to historical trends, Q4 witnesses increased activity in assets like Bitcoin, which is uplifted by the stimulus of the election-year. In fact, Pal’s prediction shows cryptocurrencies like Solana could be offering potential opportunities, which he believes, are surely going to benefit the forthcoming market dynamics.
Pal’s calculated predictions and strategic investments provide valuable insights for investors facing market uncertainties. Long term planning is crucial!
Read Also : List of Altcoins Poised for 10X Growth Amid Crypto Bloodbath
With an election year on the horizon, are you preparing for a crypto surge in Q4?