The crypto market looks like it is set to go higher and the recent corrective price phase from the ATH does appear to be over.
With that said, I issued four new signals this week for BTC, ETH, XRP, and LINK. All have substantial and wide targets.
Source: Biyond.co
One of the more interesting aspects behind the move higher in crypto is surely the post-CPI aftermath from the April CPI report.
It does appear the market pricing in the coming rate reductions, so the heavyweight correlations like DYX and Gold are also starting to react.
Interestingly, the price of silver made a big move on Friday. Some 6 percent higher infact.
Source: Tradingview.com
This underscores the knock-on effect we are seeing.
In fact, about a year ago I made a few big calls outside crypto. Gold, Silver, and Wheat long-term buys. All of these trades are getting hot now.
Source: Tradingview.com
Should we see the market getting jittery ahead of the U.S. election then we will see a period of "no confidence" in terms of U.S. dollar investment.
Naturally, investments into countries get delayed during election risks. Any closing of the polls between Trump and Biden would only magnify this period of doubt.
I think a good point to note is that while the USD may fall, and Gold and Silver can rise, crypto will likely capture the most price gains.
Investments into the various spot ETF's, plus increased crypto physical ownership appears to be the play for diversification.
Source: Tradingview.com
The broader point of today's article is that the bull market looks to be entering into a new phase, wherebye we could probably expect an attempt towards the $100,000 mark in the not to distant future.
It may also be prudent to have some exposure to more volatile cryptos and indeed ones that have not really rallied yet so far this year.
Source: Tradingview.com
My pick for pure performance is LINK/USD, and my other pick for an underperformer but could be about to play catch up would be XRP/USD.
The next few months look set to be a great time for set-and-forget investors and although Biyonds own indiciators are not fully green yet, the team suspects something big is brewing.
Source: Biyond.co
Once we see our own indicators turning fully Green, plus my own analysis the market is about to explode higher then I see little in the way to stop the crypto market cap target $3.2 trillion and maybe even higher before the U.S. election outcome.
