Gareth Soloway, chief market strategist at InTheMoneyStocks.com; He talked about his short-term goals for bitcoin, gold and stocks. He also conveyed his new goals.
Gareth Soloway maintains $20,000 target in Bitcoin
Soloway, who argued in various programs he attended before, that from a technical point of view, BTC should fall to $ 20,000 in the medium term, repeated this in his latest interview. He stated that he does not think that the largest cryptocurrency by market capitalization will see a level of $ 100,000 by the end of the year. However, he said, “I wish I could see $100,000 as probabilities,” he said, adding that he knows there are many people who “make purchases around $60,000.”
Soloway said that although it is bullish in the long-term, it maintains its mid-term Bitcoin price target of $20,000. About tensions in Eastern Europe, Soloway said that Russia’s invasion of Ukraine could actually provide support for Bitcoin. As we have reported before, the United States says that Russia has all the forces to launch military action, but Russia has repeatedly said that it has no such plans. Ukraine also reiterates that the intelligence unit did not receive such a report. While nothing definite, the rumors have increased the price of the commodities.
What’s Soloway’s gold forecast?
With the global spread of Russia-Ukraine tension, the ounce price of gold seems to have exceeded $ 1,860 over the weekend. From a technical point of view, the expert says that the graph of gold is “absolutely great”, and says that the yellow metal has been in the consolidation phase for a while. The expert states that gold, which continues to reach the trend lines shown in the chart below, can eventually break higher and reach the record level of 2020, $ 2,070.
Of course, it is unclear when this will happen. Soloway jokingly says that “$2,070 could be seen if Russia invades Ukraine today.” Soloway also draws attention to the rise in inflation, claiming that it could raise gold prices. Looking at it in parallel with the graph of 2020, he states that the big break in gold is likely to happen in August of this year.