A generally followed crypto strategist thinks that a correction in one safe port assets will probably cause risk-on behavior that Altcoins can benefit.
Analyst Michaël van de Poppe tells his 791,800 followers on the social media platform X that he closely monitors the price of Gold, remark That the graph of the precious metal this week is the “most important graph to look at”.
According to the trader, gold seems to have pressed a bearish lower high set -up on the six -hour graph, which suggests that the precious metal could fall to $ 3,200 in the short term.
“As long as Gold Sub- $ 3,365 remains, we will probably see a sharp fall in the next one to two weeks of something between 4-10%, resulting in a sudden macro-economic shift.”
Van de Poppe is of the opinion that falling gold prices will be favorable for Altcoins, because it suggests an increased appetite for risk among investors.
“At the end of [last] week, a sudden [gold] Correction took place, which could lead to the confirmation of a short -term downtrend.
This is vital, because that would go to Altcoins more investors.
Why?
It would enable more investors to jump into risk-on assets if gold implies that it continues to fall.
This means-> money/liquidity flows flows from risk-off assets to risk-on assets, and the best activa class must still be crypto. ”
But the trader warns that Altcoins will probably see lower levels if Gold $ 3,365 will be shattered.
“If it breaks above that crucial level, the theory is invalid and we are probably open to printing new highlights, which then means that we print new lows on Altcoins.
For me this is crucial, as a correction in gold and rally in the CNH (Offshore Chinese Renminbi) implies that we will see more interest in crypto flows afterwards. “
At the time of writing, gold acts for $ 3,324, an increase of more than 60% in the last 18 months.
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Generated image: midjourney