Raoul Pal, CEO of Real Vision, has noted that the current cryptocurrency market is echoing the patterns observed in 2017, where Bitcoin experienced a significant uptrend before soaring in December. He suggests that the current cycle could extend into Q2 2026, primarily due to macroeconomic indicators, which indicate that the business cycle score remains below 50. Historical data shows that Bitcoin's price rose dramatically in 2017, and Pal theorizes that the declining value of the US dollar is contributing to the attractiveness of Bitcoin as an investment. The current market resembles 2020's conditions more than those of 2021, signaling that it may be early in the growth phase of this crypto cycle. Moreover, recent discussions with Sovereign Wealth Funds in the Middle East revealed a bullish outlook on cryptocurrency, with a focus on blockchain technology across multiple countries in the region. This suggests a developing interest and potential investment from larger players in the crypto market.

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