Famous economist Selçuk Geçer; He shared his latest comments on gold, Bitcoin and the cryptocurrency market in general. Passing on his estimates for the assets, he also gave the date. Here are the details…
Selçuk Geçer: What is the next direction of gold?
Selçuk Geçer first shared his expectations for gold. The expert had previously made an assessment after the interest rate decision at the FED meeting. cryptocoin.com As we have also reported, the US Federal Reserve (FED) increased interest rates by 75 basis points. Geçer stated that this level was high at the time. However, he stated that he still remained under the fear in the market. The feared level in the market was 100 basis points. According to Geçer, although the 25-point difference did not seem significant, it could have seriously affected the market psychologically.
Geçer noted that after this, a more positive atmosphere was formed. He correctly predicted that an ounce of gold would be near $1,800. “As long as conditions continue like this, I expect a gold record,” he added. Geçer also came to the agenda with the expectation of an increase in gold after the interest rate decision. In this respect, he was right. According to Selçuk Geçer, if the situation continues like this, the $2,300 level can be recorded until the first quarter of 2023. Gerer used the following statements:
It will be between $2200 and $2300 by the first quarter of 2023. In autumn, gram gold will be 1500 TL.
What’s next for Bitcoin and cryptocurrencies?
Lastly, passing on Bitcoin and the crypto money market, Geçer pointed out that BTC has risen in parallel with the latest changes in the gold market. He stated that BTC makes good use of technical and fundamental data. In general, he stated that the crypto market is not an established market, but it is a large market. In this respect, he thinks that it has a high potential and defines it as one of the areas where we will talk “too much” in the future.
He is of the opinion that if BTC does not go below $ 18,000, it will slowly recover and $ 35-36 thousand can be seen. He thinks that the mobility in ETH could be a little faster. However, he says that if inflation is too high in the USA, a hard selling pressure will come into play in the markets. Although it is highly unlikely, he states that in such a case, BTC and cryptos will be negatively affected. The reason that Geçer draws attention to this aspect is the possibility that the base point to be increased may reach 100 if inflation is high.
As a result, the expert points out the $18,000 to $35,000 and $36,000 channels in BTC. In general, he thinks that cryptocurrencies will see “unbelievable”, high levels in the next 3-5 years.
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