So, apparently, a crypto strategist with a massive following thinks that if gold takes a nosedive, it might actually be a good thing for altcoins. 🤔
Michaël van de Poppe, the analyst with 791,800 followers on X (yes, that’s the new Twitter), is keeping a close eye on gold’s price action. He’s calling it the “most important chart to watch” this week. 📈
According to van de Poppe, gold’s chart is showing a bearish lower high setup on the six-hour chart, which could mean it’s headed down to $3,200 in the near future. 📉
“As long as Gold stays sub-$3,365, we’re likely going to see a sharp fall in the coming one to two weeks of anything between 4-10%, resulting into a sudden macroeconomic shift.”
Van de Poppe believes that if gold prices drop, it could actually be a boon for altcoins, as it might signal that investors are feeling more adventurous. 🚀
“At the end of [last] week, a sudden [gold] correction took place, which might result in the confirmation of a short-term downtrend.
This is vital, as that would attract more investors towards Altcoins.
Why?
It would enable more investors to be jumping into risk-on assets, when gold implies that it continues to fall.
This means –> money/liquidity flows from risk-off assets towards risk-on assets, and the best asset class remains to be crypto.”
But, of course, there’s a catch. If gold breaks above $3,365, the whole theory goes out the window, and altcoins might take a hit. 🚨
“If it does break above that crucial level, the theory is invalidated, and we’re likely open for printing new highs, which then means that we’re printing 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’re going to be seeing more interest flowing into crypto after that.”
As of now, gold is trading at $3,324, up more than 60% in the last 18 months. 🤑
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2025-06-11 03:02