Raoul Pal – Head of Real Vision – reportedly shared a belief that the lately recorded erratic pattern in Bitcoin price movement was largely caused by institutions emptying their bags to secure end-of-year profits.

Specifically, during his interview with The Stakeborg Talks on December 27th, the perennial Bitcoin (BTC) bull reportedly revealed his perspective on the existing market, claiming that it is unbalanced because of the impact from institutions. 

Pal further claimed that they have been selling to lock in their profits, which is a method utilized by institutions to say “I believe in getting paid

Taking into account the majority of the selling in December was reportedly generated from wallets that accumulated Bitcoin throughout the summer, per Glassnode, and that institutional assets under management (AUM) of cryptocurrency witnessed a climb in May and Oct. 

Per Coinshares, the timing of the selling, as a matter of fact, points towards institutions unloading some bags.

“It looks like they’re done because the market has been chopping around for the past week, which was the traditional last week of everybody squaring their books.”

While his predictions claimed that additional selling could take place out of Asia, Pal has expectations for 2022 to kick off with a strong beginning for the crypto markets as the capital from institutions gets redeployed.

Per Pal, institutional investors will adopt an increasingly bullish attitude towards crypto through 2022, since they start to have a more complete grasp of the ever increasing adoption of the technology “and therefore what that implies in market cap” by the end of the decade.