All 24 Charts from Raoul Pal’s Introduction to the Exponential Age

Published by Slanted Bookshelf Team on

Raoul Pal is the founder of Real Vision and Crypto Enthusiast. One of his best episodes on Real Vision is called “Introduction to the Exponential Age”. This episode is an organized stream of consciousness where Raoul explains the mental journey that led him to become a Bitcoin believer.

Here are all the charts presented in the episode. In case you heard the episode on podcast, you can see the charts here.

Watch the Video

If you want to see the episode “Raoul Pal’s Introduction to the Exponential Age,” you can watch it below.

#1 – “The Best Chart Pattern in the World”

This chart shows the collapse and liquidation of Bitcoin at the start of 2021. This is when Pal loaded up on as much BTC as he could.

Bitcoin (XBT) vs. Bulgarian Lev (BGN)

US Dollar Index and S&P 500 (charts 2-3)

#2 US Dollar Index Appears Range Bound

The US Dollar Index (DXY) Chart was expected to break lower due to rampant inflation, but it appears range bound as compared to other currencies.

US Dollar Index (DXY) Chart

#3 Equities Market Increased Although Volumes decreased

S&P 500 (SPX index) Equity Market Chart

Bitcoin Outperforms all other Asset Classes (charts 4-8)

Bitcoin was about to outperform every other asset class when evaluating relative asset class prices. Any low-supply asset was going up in value in dollar terms, but staying flat in relative value since 2008.

#4 Bitcoin Price

Bitcoin Price

#5 S&P 500 vs. Bitcoin Ratio

Bitcoin outperforms the S&P 500.

S&P 500 / Bitcoin Ratio

#6 NASDAQ vs. Bitcoin Ratio

Bitcoin outperforms the NASDAQ.

NASDAQ / Bitcoin Ratio

#7 Gold vs. Bitcoin Ratio

Bitcoin outperforms gold.

Gold / Bitcoin Ratio

#8 Real Estate vs. Bitcoin Ratio

Bitcoin outperforms the Shiller Index.

Shiller (US National Home Price) / Bitcoin Ratio

Comparing Asset Classes to the Federal Balance Sheet (charts 9-13)

#9 Bitcoin vs. the Fed Balance Sheet

The fed balance sheet is “the purest expression of monetary printing”. This chart shows Bitcoin outperforming it.
Only Bitcoin and the NASDAQ are the asset classes outperforming monetary printing.

Bitcoin (XBT) / Fed Balance Sheet (FARBAST Index)

#10 S&P 500 vs. the Fed Balance Sheet

Market fell 80% in 2008, then traded sideways.

S&P 500 / Fed Balance Sheet

#11 Gold vs. the Fed Balance Sheet

This chart mirrors the one above it. Both Gold and the S&P 500 experienced the same behavior with relation to the fed balance sheet.

Gold / Fed Balance Sheet

#12 Real Estate vs. the Fed Balance Sheet

This chart mirrors the two above it. You can see that the Shiller Real Estate Index also dropped in 2008 and has traded sideways since then.

Shiller (US National Home Price) / Fed Balance Sheet

#13 Gold vs. the S&P 500

Taking a break from the fed balance sheet, Raoul evaluates the S&P 500’s price compared to Gold and sees that it doesn’t look that expensive.

Gold / S&P 500

Measuring Inflation using the Consumer Price Index (CPI) (charts 14-15)

Some goods increased in price due according to the Consumer Price Index (CPI) due to inflation.

#14 Cost of Healthcare according to CPI has increased

US CPI of Medical Care

#15 Cost of Education using CPI

The cost of education was driven up by the baby boomers, then it lowered as Gen Z is a smaller generation with less total demand for college education.

US CPI of Education

Only 2 Assets have outperformed Monetary Printing since 2008 (charts 16-17)

#16 Bitcoin Outperforms Monetary Printing

This means that bitcoin is offsetting the debasement of currency.

Bitcoin / Fed Balance Sheet

#17 The NASDAQ Outperforms Monetary Printing

NASDAQ / Fed Balance Sheet

Looking at International Indexes (charts 18-20)

#18 MSCI World Index vs. G4 Balance Sheet

MSCI World Index has been trading sideways. This is the same pattern happening with asset classes in the US.

MSCI World Index / G4 Central Bank Balance Sheet

#19 Venezuelan Stock Market

The Venezuelan Stock Market appears to be having exponential growth upon first look.

Caracas Stock Exchange Index

#20 Venezuelan Stock Market vs. US Dollar

However, when compared to the US Dollar, it is evident that the market has collapsed.

Caracas Stock Exchange Index / US Dollar

Network Effects (charts 21 – 24)

#21 No. of Ethereum Wallet Addresses demonstrates Network Effect

Although Ethereum is not a competitor to Bitcoin, it is the basis sof the internet of value. It is breaking ground on the Internet of value. This shows Metcalfe’s Law.

Ethereum Volumes vs. Active Wallet Addresses

#22 Bitcoin vs. Metcalfe’s Law Value

The Price of Bitcoin follows the trend line for Metcalfe’s Law.

Bitcoin Price / Metcalfe Value

#23 Bitcoin vs. Ethereum Adoption

Although Ethereum has a similar trend line as Bitcoin (following Metcalfe’s law) it occurs earlier and faster than Bitcoin.

Bitcoin and Ethereum Price vs. Active Addresses

#24 Bitcoin vs. Ethereum Starting at 5M wallet Addresses

After rebasing Bitcoin and Ethereum to the point where each reached 5 million wallet addresses (the moment where network effects took hold) the prices and chart patterns each were identical. This mirrored pattern on two different assets happened 4 years apart.

Ethereum / Bitcoin starting at same # of wallet addresses

Introduction to the Exponential Age

These are the graphs from Real Vision’s Introduction the Exponential Age. They tell a compelling story about the asset classes that have stagnated since 2008, the effects of inflation on the US dollar, and the rise of Bitcoin as a superior asset outperforming nearly all other asset classes.

Categories: CryptoHobbies


Leave a Reply

Your email address will not be published. Required fields are marked *