Raoul Pal believes institutions have finished taking profits as year winds up

Real
Vision
CEO
Raoul
Pal
believes
the
recent
volatility
in
the
Bitcoin
price
is
due
to
institutions
selling
to
help
shore
up
their
end-of-year
profits, 

The
perennial
Bitcoin
(BTC)
bull
told
Vlad
from
The

Stakeborg

Talks
in
a
Dec.
27
interview
that
he
believes
the
market
is
currently
lopsided
due
to
the
effect
of
institutions.
Pal
said
that
they
have
been
selling
to
lock
in
their
profits.
It
was
a
way
for
institutions
to
say
“I
believe
in
getting
paid.”

Considering
that

much
of
the
selling

in
December
has
come
from
wallets
that
accumulated
Bitcoin
around
the
summer
according
to
Glassnode,
and
that

institutional
assets
under
management

(AUM)
of
cryptocurrency
surged
in
May
and
Oct.
according
to
Coinshares,
the
timing
of
the
selling
indeed
points
to
institutions
unloading
some
bags.

“Now
the
question
is,
‘Are
they
done?’”
asked
Pal.

“It
looks
like
they’re
done
because
the
market
has
been
chopping
around
for
the
past
week,
which
was
the
traditional
last
week
of
everybody
squaring
their
books.”

While
he
predicts
that
there
could
be
further
selling
out
of
Asia,
Pal
expects
2022
to
begin
with
a
strong
start
for
the
crypto
markets
as
the
capital
from
institutions
gets
redeployed.

Pal
believes
that
institutional
investors
will
become
increasingly
bullish
on
cryptocurrency
through
2022
as
they
begin
to
better
understand
the
ever
increasing
adoption
of
the
technology
“and
therefore
what
that
implies
in
market
cap”
by
the
end
of
the
decade.



Related:




Analysts
say
2022
will
be
‘defined
by
agility
and
cost-efficiency’
instead
of
‘blockchain
purity’

Noelle
Acheson
from
Genesis
Trading
shares
Pal’s
insights
on
institutional
bullishness
on
crypto
going
into
2022.
She
discussed
institutional
trends
from
2021
and
pointed
out
some
potential
highlights
for
2022
on
CNBC’s

Squawk
Box

today.

“The
institutional
growth
over
the
past
12
months
has
been
astonishing
and
we’re
seeing
strong
signs
of
that
accelerating
through
next
year
both
through
direct
investment
and
through
investment
in
crypto
market
infrastructure
companies
themselves.”

Bitcoin
is
currently
down
about
3.5%
over
the
past
24
hours
and
trading
at
$47,954
at
the
time
of
writing.

read original article here