🚀🚀Gold is losing power, is it time to switch to altcoins? 🚀🚀

The decline in gold prices is weakening the perception of a safe haven, while Bitcoin is giving rise signals by surpassing technical resistances. Here are the current evaluations from experts…

Cryptocurrency markets are calm and moving sideways due to low trading volumes. However, analysts' technical comments indicate that a significant movement may occur soon. Especially developments in gold and Bitcoin suggest that investors might reshape their portfolios in the upcoming period.

Leading analyst Michael van de Poppe states that a critical technical breakdown has occurred in the gold market. The price of gold has declined below $3,365 and has entered a downward trend. This situation signals that the price could drop to levels of $3,200 and even $3,080. According to Van de Poppe, demand for gold, seen as a safe haven, may decrease, which could direct investors to riskier assets, particularly altcoins with high volatility.

On the other hand, Rekt Capital's Bitcoin analysis paints a more positive picture. Bitcoin has broken the descending trend line that it has been under pressure on weekly charts for a long time and reached the level of $107,372. A weekly close above this level can be interpreted as confirmation of a trend reversal. The analyst also adds that for this rise to be solid, the price may occasionally pull back to around $104,000 to test the trend line.

In summary, the weakening of gold and the technical recovery in Bitcoin may redirect investors' interest back to the altcoin market. If the economic data to be announced next week comes in weak, expectations for interest rate cuts and monetary expansion may increase. This scenario could pave the way for a new altcoin season in the markets.