Bitcoin (BTC) Could Fall to $75,000, According to Crypto Pundit Raoul Pal

Bitcoin could fall to $75,000 in the short term, according to crypto pundit Raoul Pal. Still, he believes this potential drop does not matter.

Crypto pundit Raoul Pal believes that Bitcoin could fall to $75,000 in the short term. However, the analyst does not think that this potential drop matters.

Pal expressed this view in what appears to be a teaser for a coming Real Vision episode featuring Julien Bittel, Head of Macro Research at Global Macro Investor.

People are seeing this chart; they're worrying about the fact that it shows that Bitcoin comes down to $75,000, but what we proved is, last time around this happened, Bitcoin went down quickly and then recovered. And so, it didn't matter, Pal can be heard saying in the clip.

The "last time around" Pal is referring to is unclear, but the analyst does believe that Bitcoin is replicating its 2017 run, which saw the coin rise nearly 20x from about $1,000 to above the $19,000 price point.

Pal argues that the same fundamental catalysts that drove that run are still at play here. These catalysts are dollar weakness and China stimulus.

Specifically, President Donald Trump has often spoken out against the impact of what he believes to be an overly strong dollar on U.S. manufacturing, a view likely shared by his treasury secretary pick, Scott Bessent.

And in China, the government is pursuing several stimulus packages to bolster economic growth. In the most recent example of this, the country is set to inject at least $55 billion into the banking system.

Pal contends that these factors will free up more liquidity, some of which will flow into the crypto market, which will send Bitcoin and eventually altcoins soaring.

At the time of writing, Bitcoin is trading just over the $88,400 price point, having recovered slightly from its drop to three-month lows of $86,000 over the past 24 hours amid heightened inflation and trade war fears.