In the fast-evolving world of cryptocurrencies, history may not repeat itself, but it certainly rhymes. Raoul Pal, CEO of Real Vision, recently remarked that the current crypto cycle is unfolding in a manner “spookily similar” to the 2017 bull run. According to Pal, macroeconomic indicators suggest that this momentum might carry through to the second quarter of 2026—a bold prediction that has crypto enthusiasts and skeptics alike taking notice.
Macro Trends and Market Movements
Pal’s analysis draws heavily on macroeconomic data, which he argues has been a reliable predictor of cryptocurrency market cycles in the past. He points to key metrics such as global liquidity and central bank policies, which he believes are fueling the current bullish trend. “There’s a surprising alignment of factors,” Pal noted, “that mirrors what we saw in 2017—rising liquidity, accelerating technology adoption, and increasing institutional interest.”
Indeed, the parallels to 2017 are hard to ignore. Back then, Bitcoin skyrocketed to nearly $20,000 before experiencing a dramatic crash. Fast forward to today, and Bitcoin has shattered previous records, albeit with the usual volatility that keeps traders on their toes. But it’s not just Bitcoin that’s in the spotlight. Ethereum and other altcoins are also experiencing unprecedented growth, with platforms like Lido and EigenLayer demonstrating significant user engagement and staking activity. This trend is further explored in our recent coverage of Altcoins With Massive Gains and New ATHs as Bitcoin Flirts With $110K.
Institutional Involvement: A Game Changer?
One of the standout differences between now and 2017 is the level of institutional involvement. According to Pal, the entry of major financial players into the crypto space could extend the cycle’s duration. “Unlike 2017, this isn’t just retail-driven exuberance,” he explained. “We’re seeing real, sustained interest from large institutions that are in it for the long haul.”
The integration of cryptocurrencies into mainstream finance is evident in the growing number of ETFs and the adoption of blockchain technology by major corporations. However, this institutional enthusiasm raises questions about market sustainability. Can crypto maintain its decentralized ethos in the face of such mainstream adoption? Or will it evolve into something entirely new? These are the questions that many in the crypto community are grappling with as they navigate this complex landscape. For more insights on the market dynamics, see our article on Bitcoin Rises to $110K as Altcoins Rally; Traders Skeptical of Breakout.
A Look Back: Lessons from the Past
While the current market dynamics are captivating, it’s crucial to remember the lessons from previous cycles. The 2017 boom was followed by a notorious “crypto winter,” where prices plummeted and many projects failed. This cautionary tale serves as a reminder of the inherent risks and volatility in the crypto markets.
But there’s a silver lining—those who weathered the storm often emerged stronger, having learned valuable lessons about diversification and risk management. As we look ahead to the potential for this cycle to extend into 2026, it’s worth considering how these insights can inform current strategies.
Looking Ahead: Opportunities and Uncertainties
As the crypto market continues to evolve, the potential for innovation is vast. Decentralized finance (DeFi), non-fungible tokens (NFTs), and the ongoing development of Web3 technologies present exciting opportunities for growth and transformation. Yet, with these opportunities come uncertainties, particularly in regulatory environments which could shift rapidly in response to new developments.
Pal’s prediction of a prolonged cycle into 2026 is tantalizing, but it also raises critical questions about market stability and the future of decentralized finance. Will the crypto market manage to maintain its upward trajectory, or is another correction lurking around the corner? The coming months will likely provide more clarity, as market participants—both new and seasoned—navigate this ever-changing landscape.
In the meantime, one thing remains clear: the crypto world is as dynamic and unpredictable as ever. Whether you’re a veteran trader or a curious newcomer, staying informed and adaptable will be key to navigating this unprecedented cycle.
Source
This article is based on: Crypto cycle is playing out ‘spookily similar’ to 2017: Raoul Pal
Further Reading
Deepen your understanding with these related articles:
- Hyperliquid Token Leads Altcoin Rebound as Bitcoin Price Steadies
- Ether More Favored by Traders as Volatility Against Bitcoin Hits Highest Since FTX Crash
- Altcoin Summer Speculation Grows as Solana Outperforms Bitcoin — What’s Next?
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
