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Crypto predictions of a professional trader

Fri 31 Mar 2023 ▪ 3 min of reading ▪ by La Rédaction C.
Getting informed

Despite the bear market, the price of bitcoin has risen significantly since the beginning of the year. It is currently trading at $28,400. This exponential growth can be explained in particular by the banking crisis, leading to a loss of investor confidence in the traditional financial system. According to a professional trader, this rise will unfortunately not last. “Before another crypto rally, the value of Bitcoin should drop to $13,000,” he said in his crypto prediction.

Here is the crypto prediction of Gareth Soloway, a professional trader
According to Gareth Soloway’s crypto prediction, Bitcoin will show a downward trend towards the end of the year

Gareth Soloway’s: “By the end of the year, Bitcoin’s value will reach $12,000 to $13,000”

More than just a professional trader, Gareth Soloway also holds an important position at InTheMoneyStocks.com. In an interview with Kitco News on March 29, he announced a most surprising crypto prediction. Given Bitcoin‘s upward trend since the beginning of the year, it would indeed be hard to believe that it will trade for less than $12,000 by the end of the year.

“Despite the current significant rise in the most influential digital asset, it will fall to levels not seen since November 2020,” Soloway said in his interview.

Bitcoin’s price directly linked to the banking crisis

Soloway attributes Bitcoin’s meteoric rise to the banking crisis (including the collapse of the three major U.S. banks). Many people now prefer to invest their funds in Bitcoin. As a result, the value of this crypto has increased by 70% in a matter of days.

According to Soloway, this Bitcoin craze will fade once the traditional financial system stabilizes. When that happens, the value of the crypto will drop to $9,000. Soloway does state, however, that Bitcoin declines with the stock market during an economic crisis.

Soloway predicts a decline in Bitcoin’s value by the end of the year. His crypto prediction, however, underscores an important point: Bitcoin will recover afterward and continue its long-term growth trajectory. Does Bitcoin then constitute a true alternative to the current financial system? We have to think about it.

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La Rédaction C. avatar
La Rédaction C.

L'équipe éditoriale de Cointribune unit ses voix pour s’exprimer sur des thématiques propres aux cryptomonnaies, à l'investissement, au métaverse et aux NFT, tout en s’efforçant de répondre au mieux à vos interrogations.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.