Bitcoin Undervalued by Two Standard Deviations: Macro Trader Raoul Pal

Raoul Pal, a well-known macro trader, believes that Bitcoin is significantly undervalued compared to the Nasdaq. According to him, Bitcoin's price relative to the Nasdaq has been in a state of 'oversold' for over two standard deviations. This means that its price has fallen below what would be expected based on historical trends.

Pal, who has been following market trends closely, points out that this situation is likely to change and Bitcoin will eventually outperform the Nasdaq in the long term. He attributes this prediction to the increasing adoption of cryptocurrency and the growing demand for digital assets.