Raoul Pal hinted at the approaching altcoin season

The former head of Goldman Sachs, Raoul Pal, believes that a significant increase in the rate of the main cryptocurrency and the digital coin market as a whole will occur in the last quarter of this year. According to the investor, risky assets like BTC often grow against the backdrop of the American presidential election.

“The backend quarter of an election year is true banana zone for all assets. It always is. So you know that you’ve got a very, very, very high probability that by autumn things are utterly ripping,” Pal said.

Additionally, he pointed to Solana’s upward trend.

“If you wanted a cheeky top-up of your SOL position, this would likely be a good entry zone … let’s see! The bananas are slowly ripening … but should be magnificent in the autumn, the investor hinted at the likely altcoin season.

Previously, MicroStrategy co-founder Michael Saylor suggested that Bitcoin could reach $10 million. The businessman believes that BTC will achieve economic immortality for companies.

“The average life expectancy of a corporation is something like 10 years. We’re talking about eliminating corporate mortality; we’re talking about stretching economic vitality easily by a factor of 10, maybe by a factor of a hundred, maybe by a factor of a million,” added the MicroStrategy founder.

The investor believes that Bitcoin is the ideal means of payment and the future of the financial market. According to Saylor, from an economic point of view, everything that existed before the main cryptocurrency lost its relevance after the advent of BTC.

“Economics is pseudoscience before Satoshi. It’s a quasi-religious liberal art, and it’s full of people’s opinions and prejudices and biases. […] All the economists before Satoshi were trying to work out the laws of economics with seashells and glass beads and pieces of paper and credit instruments,” the investor concluded.