Raoul Pal - Why Crypto Crashed (And What's Next)

Why did crypto crash while Bitcoin stayed flat? Raoul Pal reveals what structurally broke in October — and why 2026 will change everything.

In this interview:
→ Why Bitcoin should be at $160K right now (40% discount to fair value)
→ What caused the October liquidity crisis
→ Why this satisfies isn't a bear market
→ Raoul's predictions for explosive growth in 2026
→ How AI is reshaping his investment thesis and personal life

TIMESTAMPS:
00:00 The Current State of Crypto Markets
02:35 Economic Forces and Liquidity Dynamics
05:39 Gold, Silver, and Financial Conditions
08:19 The Business Cycle and Future Growth Predictions
11:24 Navigating Market Changes and Retail Investor Strategies
13:53 The Impact of AI on Markets and Business Structures
16:48 The Future of Investment Strategies
19:16 The Role of Government and Regulation in Crypto
22:20 The Potential for a Market Blow-Off Top
25:10 Reflections on Market Crashes and Liquidity Issues
27:56 The Future of Bitcoin and Altcoins
30:38 The Role of Institutions and Regulatory Clarity
33:16 Final Thoughts on Market Dynamics and Predictions
40:04 The Evolution of Ethereum and Layer 2 Solutions
45:38 Emerging Narratives in Blockchain and AI
52:50 The Future of Decentralized Computing and AI
56:38 The Role of AI in Investment Strategies
01:02:59 Navigating Market Cycles and Investment Decisions

🔗 FOLLOW RAOUL:
X: https://x.com/RaoulGMI
Real Vision: https://www.realvision.com/

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📲 CONNECT WITH MICHAËL:
X: https://x.com/CryptoMichNL
YouTube:    / @michaelvdpoppe  

🎙️ LISTEN ON:
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Apple Podcasts: https://podcasts.apple.com/nl/podcast...