‘We’re Still In The Banana Zone’ – Crypto Expert Raoul Pal

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Raoul Pal, head of Real Vision and a well-known investor and cryptocurrency authority, recently spoke to his many followers about the present condition of the digital currency market and potential future outcomes for alternative coins on the social media platform X (previously known as Twitter).

Once more, he employed the phrase “The Banana Zone,” a term he personally created, to characterize different stages within the cryptocurrency market.

“We are still in the Banana Zone”

Raoul Pal recently tweeted that the current market situation is similar to what he calls the “Banana Phase.” This term was coined by him to refer to an exceptionally rapid increase in the price of a cryptocurrency, where its price graph takes on a banana-like shape.

In his latest tweet, he expressed that we’re currently in what he calls the “Banana Zone”. This terminology refers to a phase where a significant price breakout from last year (Banana Zone Phase 1) has shifted into a period of consolidation, much like what happened with the cryptocurrency market during 2016-2017. However, he suggests that this stage may not persist for long, possibly indicating a forecast about Bitcoin and its recent price adjustments.

Absolutely, we’re still within the realms of the Banana Zone… 🍌🍌🍌

Currently, we’re experiencing a phase similar to Banana Zone Phase 1, which was a significant growth spurt last year. Now, it seems like we’re in a period of consolidation, much like the one experienced after phase 1 in 2016/17.

However, this won’t continue for long. We’re anticipating Banana Zone Phase 2 – also known as the “Banana Singularity” (Alt Season), where all assets are expected to rise…

— Raoul Pal (@RaoulGMI) January 10, 2025

Following the completion of Phase 1 in the Banana Zone, the cryptocurrency expert anticipates the market will move into “Banana Zone Phase 2”, also known as “The Banana Explosion”. He emphasized that this would be similar to altcoin season. During this phase, it’s expected that everything will increase (followed by a larger period of consolidation).

According to Raoul Pal, the concluding stage is referred to as “Banana Zone Phase 3,” which is when the leading contenders significantly surge to reach even greater peaks (the accumulation phase).

Bitcoin price action inside the “Banana Zone”

Previously, Pal discussed “the Banana Zone” around November last year, following Bitcoin, the leading cryptocurrency globally, hitting an unprecedented peak of over $75,000. Later in early December, Bitcoin surpassed another record high, breaking through the $108,000 barrier.

At present, the value of digital gold stands at approximately $94,800, following a 3.14% increase over the last day. This upward trend came after a nearly 10% drop, with Bitcoin falling from around $102,000 on Tuesday to $91,900 two days later.

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2025-01-10 14:53