Market analyst predicts significant rally for cryptocurrencies and commodities

A prominent market analyst has expressed the belief that both the cryptocurrency and commodities markets could experience a significant rally in the near future. According to Michaël van de Poppe, an analyst and entrepreneur, both crypto assets and commodities are currently undervalued. In a post on X, van de Poppe observed that commodities are currently valued at levels similar to those seen in 2000 and 1971. This suggests that commodities are currently undervalued compared to the market bubble of 2000, which preceded the 2008 financial crisis. Many analysts are predicting a breakout for Bitcoin in October, possibly triggered by the Federal Reserve meeting scheduled for September 18, which is expected to result in an interest rate cut. Additionally, global liquidity is expected to increase, which could lead to a bull rally for Bitcoin. Raoul Pal, the founder and CEO of Global Macro Investor, believes that leading economies will be forced to refinance their debts, thereby driving a global liquidity breakout in the US, Japan, China, and Europe. This influx of liquidity could find its way into Bitcoin, causing its price to rise. Historical chart patterns suggest that Bitcoin may be poised for a three-month rally after a decline lasting more than three months. A recent retest of a key support level on the weekly chart indicates that Bitcoin could rally above $90,000. However, there is the possibility of downside in September before the next leg up, which could be influenced by the upcoming Federal Reserve meeting.