Raoul Pal sees BTC outperforming Nasdaq over the long term

Raoul Pal, founder of Real Vision, said Bitcoin had entered a deeply oversold zone relative to the Nasdaq at more than two standard deviations below the mean before staging a strong rebound. Pal said it remains too early to draw firm conclusions, but he expects cryptocurrencies to outperform the Nasdaq over the long term. Pal added that this kind of secular trend is a highly useful indicator when building an asset allocation strategy. A move into a more than two-standard-deviation oversold range means the Bitcoin/Nasdaq relative strength indicator had fallen well below its statistical average before beginning a technical rebound.