The Bitcoin collapse reveals the resilience of the crypto market and the absence of systemic risk: macro guru Raoul Pal

Raoul Pal, former Goldman Sachs director, said the crypto industry has shown remarkable structural resistance in the midst of the most recent price drop. Real Vision's current CEO, Pal, says the crypto industry has absorbed the drop in prices to a large extent without penalizing anyone but speculators. Headline: Main Asset Class Crashed 42% in 14 Days and Destroys $ 1.02 Trillion in an Orgy of People Purging Up to 100X Lever, Regulation Low. Many tokens, including loans and unregulated loans, dropped to 70%. Under the headline: Crypto did a major VAR shock test and NOTHING happened. The liquidation of the leverage was balanced by over-collateralization. Nobody kept holding the baby. Not a single company went bankrupt. The Fed didn't have to intervene. Defi did not break and continued almost normally. There were no collateral loss wreaths. There was no collateral pressure. Fixed coins remained stable. Some changes took an hour or two. There were no major losses in the stock market and there was no need to compensate for the losses. No protocol failed. No business needed fast financing. No one has ever had unlimited losses. The system is not broken. This did not pose a systemic risk to the financial world as a whole. Speculators lost money and that's it. Believing that the current bull run has not yet reached its peak, Pal says the drop in prices indicates the role of crypto in the future financial system. “This was the first thing I saw in crypto in 2012. A new anti-fragility financial system that will not collapse in times of stress where asset ownership is clear and there are no losses. It is not shared among taxpayers. It's been two great weeks for crypto and the future financial system. You will receive cryptographic email alerts directly in your inbox. Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check the latest news Disclaimer: The views expressed in The Daily Hodl are not investment advice. Investors should do their best

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