Analyst Announces Bitcoin Target on Dollar Chart!

With all markets and investors focused on tomorrow’s FED meeting, it fell as low as $ 18,200. Bitcoin (BTC) started to recover.

BTCAlthough it still hasn’t managed to break above $20,000, it has gained nearly 2% in the last 24 hours and is trading at $19,141 at the time of writing.

As investors wonder if new bottoms are coming for Bitcoin, a new report from InTheMoneyStocks.com’s chief market strategist Gareth Soloway bitcoin guess has arrived.

Speaking to Stansberry Research Gareth Soloway He said he predicts BTC could drop further.

“When I examine Bitcoin’s chart and the assets it correlates with, I predict that BTC will drop somewhere between $12,000 and $13,000.”

“There Is Inverse Correlation Between Dollar And Bitcoin (BTC)!”

Pointing out that the dollar and Bitcoin are inversely correlated, the analyst said, BTCHe stated that the dollar has a close relationship with the decline of .

“The dollar has a lot to do with Bitcoin’s decline as we see the dollar continuing to stay at its highest level in the last 20 years.

With every rise in the dollar, you will see the opposite happen on the Bitcoin chart, that is, Bitcoin goes down.”

Explaining the level to be followed in Bitcoin, the analyst said, “The key level for me is $19,599 on a daily close basis. As long as we stay around this level, there is still a small chance for Bitcoin to rise.” said.

Finally, Soloway pointed out that regulation should be made in the crypto money industry. bitcoin and cryptocurrencies He believes it will be a positive thing for him.