ChainCatcher reported that Real Vision founder Raoul Pal said a chart he closely tracks shows Bitcoin has entered an oversold zone more than two standard deviations below its level relative to the Nasdaq, and that the move is now reversing quickly. He said he will keep watching the setup, while adding that crypto assets should outperform the Nasdaq over the long term. Pal also said such long-term structural trends matter for asset allocation. The comment was based on the relative strength performance between Bitcoin and the Nasdaq.
ChainCatcher reported that Real Vision founder Raoul Pal said a chart he closely tracks shows Bitcoin has entered an oversold zone more than two standard deviations below its level relative to the Nasdaq, and that it is now moving higher quickly.
Pal said he will keep watching the chart. He also said he believes crypto assets should outperform the Nasdaq over the long term.
According to Pal, those long-term structural trends are an important reference for asset allocation.
The view is based on the relative strength between Bitcoin and the Nasdaq.
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