Has Gold Price Reached Its Peak? Analysts Predict ‘Rotation’ to Bitcoin

The post Has Gold Price Reached Its Peak? Analysts Predict ‘Rotation’ to Bitcoin appeared first on Coinpedia Fintech News

Gold has just had its roughest day in more than a decade, and crypto traders are taking notice. 

On October 21, the precious metal dropped over 8% in a single session, hitting its steepest decline since 2013. For a market that had just surged past $4,000 per ounce in early October, the sudden selloff is significant. 

And according to Michaël van de Poppe, host of the New Era Finance Podcast and crypto analyst, this could be the start of a shift toward Bitcoin.

Van de Poppe Sees Gold Peaking

Van de Poppe laid it via an X post: “The volatility on Gold is super high, that’s due to the fact that it’s a massive outlier which we’ve witnessed in recent months. I do think Gold is peaked for the moment, and that would mean that money should rotate towards other assets.”

He sees this as more than a one-day trend. Gold’s rapid climb in just over a month made it an extreme outlier. Overbought conditions, profit-taking, and technical extremes all made a correction likely. 

Van de Poppe points to macro factors like a soft CPI reading and the end of the U.S. government shutdown as triggers that could push investors to riskier assets like Bitcoin.

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Gold Falling, Bitcoin Rising

History suggests this rotation isn’t unusual. In April, when gold dipped, Bitcoin surged after hitting a macro bottom. Now, as gold falls 6-8%, Bitcoin has edged higher, trading near $108,039 at press time. Analyst Ash Crypto sees this as the start of a bigger move. 

Anthony Pompliano added: “Yesterday I told you it was time for the great rotation from gold into bitcoin. Today the rotation started.”

Yesterday I told you it was time for the great rotation from gold into bitcoin.

Today the rotation started. (h/t @Ashcryptoreal) https://t.co/k74LlhggaM pic.twitter.com/krbsNbltcd

— Anthony Pompliano