What’s the Bottom in Bitcoin? Will Gold Rise in 2023? Analyst Commented!

While the events continue to negatively affect the crypto money market, finally, FTX bankruptcy bitcoin and in altcoins caused declines.

Bitcoin fell to $ 15,500 with the FTX bankruptcy. After that, it went over $16,000. BTCstruggling to break the $16,600 resistance.

As BTC continues its price struggle, chief strategist at InTheMoneyStocks Gareth Soloway He said in an interview that Bitcoin could drop even more.

Stating that Bitcoin may fall to $ 9,000 in 2023 and in the near term, the analyst said, BTCHe said he was hopeful that he was not worried about the long-term performance of .

Stating that after the collapse of the bank called Lehman Brothers in 2008, the S&P 500 collapsed by 45% in the 5-6 months following the collapse, the analyst applied the same situation to FTX and Bitcoin.

According to this chart, Soloway predicts that Bitcoin could also drop as low as $9,000 in the months following the collapse of FTX.

BTC In the long run, Soloway opened a parenthesis to its decline. bitcoin He stated that he wanted to make an investment and therefore he would do more hodl.

“If I’m wrong in my reviews and analysis, I don’t want to sit without my Bitcoin investment.

So I am willing to buy some BTC here and I will hodl more.”

Soloway, who is waiting for a drop in Bitcoin, said that he is hopeful for gold.

located at the level of $ 1,728 gold Saying that “it is showing great moves” for the analyst, he thinks that gold is safe due to the uncertainty environment in crypto.

“I like that we are trading below the $1,728 level.

As long as this situation continues, I am optimistic about gold in the short and long term. I loved gold in 2022.

This is also true for 2023. Because it is a little difficult to predict where things will go in Bitcoin and the crypto market in general.

That’s why I prefer the safety of gold due to the uncertainty in crypto right now.”

*Not investment advice.

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