Mr. Wall Street also explained that the extreme market fear driven by US tariff changes caused investors to seek a safe haven in the gold market. Historically, an increase in gold investments is always bullish for the crypto market, as it’s been reflected in the recent market rally.
The crypto analyst stated:
… this extreme fear was bringing a geral capital rotation from risk assets to gold which was long term extremely bullish for bitcoin because everytime gold pumps, bitcoin pumps with a average delay of 3 months, as profits are rotated from gold towards bitcoin within that timeframe, and since gold is a x13 bigger market, 1% of gold market flowing towards bitcoin market makes us see a pump of +13%.
Looking forward, Mr. Wall Street projects the positive market effects from the institutional supply shock and profits rotation from gold to last for the 3-6 months from the end of April. Therefore, Bitcoin investors can expect a market uptrend until August-November, where BTC should rise as high as $150,000.
Thereafter, the analyst tips BTC to trade between $150,000 – $180,000, serving as a good accumulation period before surging to $200,000, which will likely serve as a psychological resistance like $100,000. Importantly, Mr. Wall Street states that $200,000 will potentially serve as the market cycle top at which many early investors are likely to take profit. Thereafter, the analyst forecasts a 50%-70% market correction to around $100,000 and below.
At the time of writing, Bitcoin is trading at $103,956, reflecting a 0.80% gain in the past day. Meanwhile, daily trading volume is down by 17.39% and valued at $45.65 billion.
