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Famous Investor Reveals His Gold and Bitcoin Targets: No Stopping!
Gold prices have reached record levels this year. On the other hand, Bitcoin has climbed to its all-time high. Despite the decline in gold and Bitcoin prices, according to most analysts and investors, there is still more room to go. Founder and Managing Partner of Fairlead Strategies, Katie Stockton, says investors need to be prepared for more volatile and variable transactions in the second half of the year. She also points to the key indicators to be followed.
Critical indicator behind the predictions!
The critical indicator behind Katie Stockton's predictions is widespread exhaustion in the stock markets, especially in the Nasdaq 100. Stockton says, 'There are upward exhaustion signs that we are keeping an eye on. This doesn't necessarily mean that you have to reduce risks broadly. However, we suggest our clients to evaluate short-term market hedges with a top-down perspective to manage risk during a pullback.'
Gold price predictions
As you follow from Kriptokoin.com, gold reached an all-time high above $2,400 in May. The shiny metal then lost ground. Gold has been trading below $2,375 for the past two weeks. Stockton shares his assessment as follows:
When considering the overbought zone, the current pullback is natural. Stockton says, “And this is not limited to gold only; it is also valid for metals in general, such as silver and copper.” Stockton's price target for gold is $2,515. In this context, Stockton says, “This is not necessarily a stopping point, but definitely a reasonable target in our opinion.”
Bitcoin's goal
Bitcoin price has dropped by about 7% since the Federal Reserve announced keeping interest rates steady and signaling only one interest rate cut this year. Stockton also points out the correlation of Bitcoin with the Nasdaq 100, indicating a new direction for prices. Stockton's Bitcoin target is around $81,000, following its progress towards record levels above $70,000 in early June.
A well-known investor also sets red flag levels for gold and Bitcoin. He talks about the precautions he will take if both assets fall below these levels.
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