The CEO of Real Vision Raoul Pal stated that crypto prices went down potentially due to large companies wanting to cash out at the end of the year.
In an interview with StakeborgDOA on Twitter, Raoul Pal, previously a hedge fund manager at Goldman Sachs, had expressed his concerns with big companies affecting the crypto market by cashing out before New Year's.
He believes that this was only temporary, and the prices should stabilize very soon.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
Candlesticks, Trendlines & Patterns Easily Explained (Animated Examples)
Raoul Pal was quite optimistic about the beginning of 2022 in terms of crypto prices since institutions will get their assets redeployed for the upcoming year, suggesting that they'll probably cut down on selling large volumes of crypto.
On the other hand, Raoul Pal believes that large institutions are getting more and more interested in blockchain technologies, whilst understanding what affects the price fluctuations in the crypto market which will put them at the top of the food chain.
With Bitcoin being down 4% over the last week, Genesis Trading’s Noelle Acheson had similar predictions on crypto being pushed around by large companies, stating:
"The institutional growth over the last 12 months has been astonishing, and we're seeing strong signs of that accelerating over the next year..."
Based on the insights from both experts, sooner or later, these industry giants may have all the influence they need to manipulate the prices of crypto on a larger scale.