真正的Vision创始人Raoul Pal预测比特币（BTC）牛市可能会延伸到2026年

著名的宏观分析师和真实视野创始人拉乌尔·帕尔（Raoul Pal）发布了一个预测，即正在进行的比特币牛市可能会延伸到2026年

Renowned macro analyst and Real Vision founder Raoul Pal has issued a forecast that the ongoing Bitcoin bull market may stretch into 2026—well beyond most conventional expectations of a peak in 2025. In a recent presentation, Pal walked through a range of macroeconomic indicators, historical price behaviors, and liquidity metrics that he says paint a compelling picture for an extended uptrend in digital assets.

著名的宏观分析师和真实视野创始人拉尔·帕尔（Raoul Pal）发布了一个预测，即正在进行的比特币牛市可能会延伸到2026年，这超出了2025年对高峰的大多数传统期望。在最近的一份演讲中，PAL在一系列宏观经济指标，一系列宏观经济的指标，历史上的价格和流动性指标上说，他说，他说，他说，他对绘画了一幅稳定的图片，并在数字上绘制了一个数字化的绘画。

The essence of Pal’s thesis lies in Global M2 money supply, which tracks the total liquidity in circulation worldwide. As observed by Pal, Bitcoin, along with other risk-on assets, tends to correlate closely with changes in Global M2. “If this is the case, then M2 is going to keep going up all f***ing year. If that is the case, then crypto and risk assets like tech will do well all year.”

PAL论文的本质在于全球M2货币供应，该货币供应跟踪全球流通的总流动性。正如PAL所观察到的那样，比特币以及其他风险基金资产倾向于与全球M2的变化密切相关。 “如果是这种情况，那么M2将不断上升一年。如果是这样，那么加密和像Tech这样的风险资产一年四季都会做得很好。”

Comparing current liquidity trends to those seen in 2017—when the dollar weakened considerably and equity markets soared in US President Donald Trump’s first term—Pal argues that the macro backdrop appears similarly poised for expansion. According to him, if major economies continue easing, it may drive the next phase of explosive crypto growth.

将当前的流动性趋势与2017年的流动性趋势进行比较（当美元大幅削弱，股票市场在美国总统唐纳德·特朗普的第一个任期中飙升时，PAL都认为宏观背景似乎也有望扩大。据他说，如果主要经济体继续放松，它可能会推动下一阶段的爆炸加密增长。