Giant Estimator: Expect these to go gold in the next 5 months!
Gold and money market specialist Islam Memiş shared his comments on the precious metal and the largest cryptocurrency with its market value, Bitcoin. Gold prices approached the 1,000 lire mark as the dollar continued to climb throughout the past day. What’s next? Here are the expert opinions…
İslam Memiş: These levels are important for gold
With the new week, gold value has reached 990 lire. The price of quarter gold rose above 1,600 lira. Islam Memiş warned those who will take the gold, saying: “You will lose a lot”. Memiş shared that buying and selling can be risky in the current situation. Memiş drew attention to the 1,250 and 1,450 lire levels as new levels for the gold gram price. Memiş, who also made statements about the most appropriate buy and sell dates for gram gold, warned those who bought gold during this period, saying, “You’re going in the nose”. Explaining that the moment is a risky time, Memiş said that with the latest package, the exchange rate has fallen. However, he explains that the impact will be short-lived, so investors should be patient.
What do the new packages indicate?
İslam Memiş also addressed the expectation of a new package to be announced in Turkey. According to the expert, the new package will be announced in a week at the latest, although there is a downward movement, this decline is said to be temporary. Memiş explains that the government’s work on house and rent prices is ongoing. On the other hand, he said that cryptocurrency prices increased by five percent in the post-FED money market. Memiş used the following statements:
Cryptocurrency prices increased by 5 percent. There are three main reasons for this: fall in commodity prices, rally in stock markets and reaction buying. Our roadmap in June was that there would be new rallies in cryptocurrencies, commodities and stock markets. That happened. However, for this surge to continue, we need to see Bitcoin closes above 35,000.
At the time of writing, the cryptocurrency is changing hands at $29,560, down 6% and roughly $6,000 below Islam Memiş’s price target. Memiş says he believes the reaction will continue after the Fed rate meeting on June 15-16, stating that “technically, $42,000 is a strong resistance level”. He says that upside moves will also head towards these levels. As we reported as
October matters
Kriptokoin.com , Islam Memiş also drew attention to October. Islam Memiş stated that a crisis will start in September and this crisis situation will reach its peak in October. Because of this, he said it should be prepared for October.