Month: November 2025

The post Biggest Crypto Gains Come From Holding Through the Pain, According to Raoul Pal appeared com. AltcoinsBitcoin The crypto market is bleeding again, but former hedge fund manager Raoul Pal doesn’t view chaos as a reason to retreat. Key Takeaways: Pal buys through crashes instead of waiting for a bottom. He sees the current sell-off as similar to past shakeouts that later reversed. Volatility doesn’t change his long-term bullish outlook. He believes it’s exactly inside moments like this when conviction evaporates and uncertainty dominates that the foundation of the next rally is quietly built. Crash Conditions Aren’t a Signal to Exit They’re Data Pal argues that extreme sell-offs reveal more about market behavior than bullish phases ever do. When liquidity disappears, risk assets are abandoned and prices swing violently, the natural instinct is to step back. For Pal, that instinct is the enemy. Instead of searching for a perfect bottom, he steadily increases exposure through the decline, fully aware that his portfolio can experience brutal temporary losses. To him, the objective is not timing the turn it’s staying exposed long enough to benefit from it when it arrives. Today’s Panic Looks Familiar to Him According to Pal, there is nothing unique about the current downturn. He sees the same hallmarks that defined previous phases of deep fear: rapid de-risking, forced selling and liquidity drying up so quickly that price discovery becomes distorted. What changes between cycles is the crowd not the pattern. The Market Has Done This Before Then Reversed With Force Pal didn’t reference numbers to justify optimism he referenced history. He pointed to multiple crashes that looked catastrophic before the dust settled: The 2021 sell-off that halved Bitcoin and crushed Ethereum and Solana before all three rallied to record highs The COVID crash that wiped out more than 70% of Bitcoin in 2019-2020 The relentless shakeouts across 2016-2017.