price forecasting Bitcoin: According to a veteran trader, the situation for BTC is not good Gareth Soloway. said in one interview we may have recently faced a worst-case scenario similar to the dot-shrink era when Amazon lost 95% of its value.
If that happens, “at worst, Bitcoin will hit $3,500.”
Bitcoin Price Prediction: When to Buy?
Does this mean Soloway will buy at this price? The trader noted, “I know enough about my career to know that I’m not picking exact lows. So basically, by the time I’m a teenager, I’m going to start hoarding all the way through.”
He later added:
“I’ll take some for $13,000, I’ll take some more for $10,000. I think eventually Bitcoin will reach $100,000 or even $500,000. Therefore, I will not try to pick a fund and lose it. Instead, I’ll just do the math Dollar cost averaging to create that center position in this lower range.
Ethereum price forecast
For Ethereum soloway is the bassist:
“I think the most important thing is to understand what market we are in.” when you are a bear marketit takes a lot for prices to go up because people are afraid.
The veteran trader emphasized:
“So if you’re in a bull market, you can get the slightest bit of news and the price will go up.” It may even be irrelevant news. But the problem is that we are in a bear market. And in a bear market, people really need value.”
Solway says this investors need to know that something is changing immediately to restore confidence. Fusion failed to live up to this hope:
“It’s probably great for Ethereum, but in the short term everyone’s focus is on Fed rates, the US dollar and the economy.” All of these things are destroying risk assets right now.
Soloway says the Fed’s policy is still too aggressive:
“They are much more aggressive than I thought. You know, I’ve been in a conservative position where I say to myself, OK, the Fed has to be careful here. If they lead us into a bad recession and inflation still above 2 percent. or 2 percent mandate, how will they get us out?
In the middle of this hypothetical scenario, the trader points out:
“The markets are going to look at the Fed and say, ‘Hey, could you print some money and get us out of it like you’ve been doing for the last 20 years?’ this. We don’t have 2% or low inflation, we can’t print output. And I think that’s where it’s starting to make an impact.”
Gareth Soloway says it almost reminds him of a reaction emotional:
“They know they made a mistake by printing too soon.” Now they’re trying to make up for another mistake, and two mistakes don’t make a difference in this case. So the market is going down.”
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