A market analyst predicts that the cryptocurrency and commodities markets might be at an edge of a sudden upturn
A market analyst predicts that the cryptocurrency and commodities markets might be at an edge of a sudden upturn. Michaël van de Poppe, a crypto analyst, recently shared his insights about the potential for a parabolic rally in these sectors.
On September 15, Van de Poppe highlighted the extreme undervaluation in both crypto assets and commodities. By looking at historical market conditions, he pointed out that commodities are presently trading at values last seen in the year 2000 and even back to 1971. This suggests to him that a decade-long bull market may be in the works for commodities.
"I'm expecting a lot of upside from those two asset classes," he said while emphasizing huge upside for both crypto and commodities markets. Indeed, his comments have generated debates among investors and those keenly watching the market movements, many of whom have been closely monitoring both sectors for any sign of a breakout.
Giving weight to the crypto side of such a prediction, other analysts take turns in calling for an October Bitcoin (BTC) breakout. Probably sparking this could be the upcoming Federal Reserve meeting on September 18, where many believe interest rate cuts could become a topic of discussion.
Meanwhile, Raoul Pal, founder and CEO of Global Macro Investor, is also bullish. He believes this could be because a spike in global liquidity is looming, which will send Bitcoin into its next bull run. He cites the reason as major economies being forced to refinance their debt.
"As global liquidity increases, cryptocurrencies will rise, and other markets such as the Nasdaq will," Pal said in a recent video post. He added that global M2-a measure of the money supply-is starting to increase.
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