Market expert İslam Memiş conveyed his expectations about cryptocurrencies, one of the most popular asset areas. He also mentioned gold, the most preferred commodity as a safe haven. Islam Memiş announced the date when Bitcoin, altcoin and gold will explode. Here are the details…
Market expert evaluated Bitcoin and gold
Expert Islam Memiş first talked about the field of commodities. According to Memiş, there will be an increase in gold and silver, but it has not started yet. The expert thinks that the time to experience the breakout will begin in September. Islam Memiş claims that September will see a serious rise in the crypto market, gold and silver. He says that the reason behind this is the inflation data announced by the US Federal Reserve (FED). As we have also reported as Kriptokoin.com, the USA announced inflation data on Wednesday. In light of the announced data, the US Dollar Index (DXY) is expected to depreciate.
Gold is usually expressed in US dollars. Therefore, there is a relationship between the price of gold and the dollar. Because as the dollar’s value rises and falls, there can be an impact on gold prices. While the relationship between the value of the US dollar and the value of gold is important, the dollar is not the only factor affecting the price of the precious metal. Other factors that affect the value of both gold and the dollar are interest rates, inflation, monetary policy, and supply and demand. “Investors must keep their gold and silver these days,” says Islam Memiş, pointing to the rise.
Cryptocurrency investors have been challenged
On the other hand, Islam Memiş addressed investors in the crypto money market. According to the expert, the patience of investors in the crypto market has been strained. However, they need to be a little more patient. MEmiş announced that he expects a decline in the dollar index at this point as well. According to the expert, DXY may drop to 95-96 levels in October. As it is known, the US Dollar Index has been breaking records for the last 2 months. Most recently, he saw his record at 106.
Pointing to DXY, he thinks that BTC and altcoins may experience a recovery. The expert described the recovery of the cryptocurrency market over the past week as “poor”. He thinks that for the continuation of the rise, Bitcoin must rise above $ 27,000. Currently, the value of Bitcoin is around $24,800, up 3%. This level seems high when compared to the $22,000 levels seen on weekdays.
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