Financial markets are experiencing a period of significant change. However, one asset class is generating excitement among investors: hard assets. Cryptocurrencies like Bitcoin (BTC), alongside traditional havens like gold and silver, are exhibiting signs that a major price increase, or “bull cycle,” could be imminent.
Michaël van de Poppe, a renowned crypto analyst, believes these assets are currently undervalued. In a recent post, he pointed to the “extremely low (…) valuations of Crypto & Gold, Silver compared to the Dollar & Equities.”
He argues that investors should seriously consider including these assets in their portfolios, suggesting they are positioned for significant growth based on technical analysis.
Read Also: Michaël van de Poppe Says Ethereum Is Set for Massive Run. Here Are His Targets for ETH and BTC
Precious Metals Flash Bullish Signs
According to data provided by BullionVault, Gold is currently trading at $2,367.13 per ounce and $76,105 per kilogram. Despite a slight dip of 0.27% over the week, gold remains up 1.93% over the month.
As for Silver, it seems to be mirroring this trend. While the price dipped 1.29% to $30.92 per ounce over the last day, it has gained 4.65% over the past week and a substantial 13.15% over the last month.
Bitcoin Primed for Continued Growth
Bitcoin, the world’s leading cryptocurrency, is currently trading at $68,705.89 according to CoinMarketCap’s data. This represents a minor loss of 1.17% daily but maintains a positive trend with a weekly gain of 3.80% and a monthly increase of 3.15%. Van de Poppe suggests that Bitcoin is currently in a consolidation phase, potentially retesting the $68,000 mark before continuing its upward trajectory.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Altcoins Expected to Rally
Van de Poppe believes altcoins, or alternative cryptocurrencies to Bitcoin, have significant room for growth. In a previous post, he pointed out that many altcoins are currently “down 70% against Bitcoin.” He anticipates that these altcoins will outperform Bitcoin “in the coming months” due to their current undervalued state.
Van de Poppe’s analysis suggests a potential opportunity for investors seeking to capitalize on a bull cycle in hard assets. With traditional safe havens like gold and silver exhibiting positive momentum, and Bitcoin consolidating before a possible upswing, investors may want to consider these assets for their portfolios.
Read Also: Michaël van de Poppe: Cardano (ADA) Is Gathering Momentum For 800% Price Surge
According to van de Poppe’s analysis, while currently lagging behind Bitcoin, altcoins could offer significant growth potential.
It is important to know that this is not financial advice. Investors should always conduct their own research before making any investment decisions. The cryptocurrency market is inherently volatile, and past performance does not indicate future results.
Follow us on Twitter, Facebook, Telegram, and Google News.
