Bitcoin Still Heading to $20,000, So Don't Get Excited About the Rally Warns Gareth Soloway
Stansberry Research, Released on 3/28/22
As Bitcoin's weekend rally erased its losses for the year, right now, "is a bad point to get into Bitcoin," says Gareth Soloway, president and CFO of InTheMoneyStocks.com In order to have a legitimate break to the upside, "bitcoin needs to hold at the $50,000 level," the expert technical analyst tells our Daniela Cambone. Soloway cautions investors seeking to invest into the cryptocurrency by asserting that, "you don't want to buy into resistance." Cryptos have had a massive run, he tells our Cambone when discussing rising altcoins, however, "it would be nice to see consolidation at this point." "Gold faces downside in the near-term," and the economy slowing aggressively in the second half of 2022 will only help the precious metal, he predicts. The Reddit meme traders are, "trying to recreate the magic," he says, as GameStop and AMC have been identified with bullish trends. Soloway concludes that the coming digital yuan will be the reserve currency of the world, "as the dollar is here to stay in the short-term, but will have issues long-term competing."
Gareth Soloway is a professional trader with over 20 years of experience and the President, CEO, & Chief Market Strategist for InTheMoneyStocks.
Bitcoin Still Heading to $20,000, So Don't Get Excited About the Rally Warns Gareth Soloway added by Herman James on 03/27/2022View all posts by Herman James ?+'