A notable market analyst believes the cryptocurrency and commodities markets could both be ahead of a parabolic rally.
This is because both crypto assets and commodities remain “extremely undervalued,” according to analyst and entrepreneur Michaël van de Poppe.
The analyst noted in a September 15 post on X that commodities were last valued at similar levels in 2000 and 1971.
“Commodities & crypto are extremely undervalued and it's likely that commodities go into a 10-year-long bull market. I'm expecting a lot of upside from these two asset classes.”
S&P Commodity Index vs S&P 500. Source: Michaël van de Poppe
The index shows that commodities are valued at lower levels compared to the bubble of 2,000 before the markets rallied up into the 2008 financial crisis.
Increasingly, more analysts are calling for a Bitcoin (BTC) breakout in October, which could be catalyzed by next week’s Federal Reserve meeting on Sept. 18, which could bring a widely expected interest rate cut
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Global liquidity is about to break out: Raoul Pal
An incoming rise in global liquidity could catalyze the next Bitcoin bull rally.
According to Raoul Pal, the founder and CEO of Global Macro Investor, this is mainly because the leading economies will be forced to refinance their debts.
Global liquidity breakout. Source: Raoul Pal
This will drive a global liquidity breakout in the US, Japan, China and Europe, Pal shared in a Sept. 15 X video:
“As global liquidity rises, cryptocurrencies will rise, as will other markets like the Nasdaq… Global M2 is also starting to rise.”
BTC/M2 money supply. Source: Jamie Coutts
Part of this growing global liquidity could find its way into Bitcoin, leading to the next leg up in the 2024 cycle — since Bitcoin price is highly correlated with the M2 money supply.
Related: Bitcoin price struggles as bears overtake bulls in futures markets
Bitcoin heading for three-month historic rally as analysts eye $92,000 BTC
Based on historical chart patterns, Bitcoin appears poised for a three-month rally after a decline lasting more than three months.
Bitcoin recently retested a key support level on the weekly chart, which could set it up for a rally above $90,000, according to popular analyst Titan of Crypto.
The analyst wrote in a Sept. 13 X post:
“In previous cycles, when the price retested the 50-week simple moving average, it bounced at least 40%. On average, the bounce was 71%. If #BTC rallies 71% from here, it could reach $92,000.”
BTC/USD, 1-week chart. Source: Titan of Crypto
However, Bitcoin’s “anxiety stage” threatens more potential September downside, ahead of the next leg up, which could be catalyzed by the next Federal Reserve meeting on Sept. 18.
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