According to DailyHodl, macro expert and former Goldman Sachs executive Raoul Pal says that while negative sentiment across the crypto industry is at an all-time high, its fundamentals remain strong.

In a new interview with co-founder and host of Impact Theory Tom Bilyeu, Pal says investor negativity is higher than he has ever seen it, including during the Great Recession and the Dot.com bubble burst.

But Pal says the crypto space is bullish with widening adoption by institutional investors, noting that big tech is increasingly intertwining with the crypto industry.