Bitcoin (BTC) will be worth $12,000 according to an analyst

Although bitcoin (BTC) is in a relatively unstable period with prices that are low and struggling to really take off, experts remain positive. But not all ! For example, Gareth Soloway, chief market strategist at InTheMoneyStocks.com, fears the worst. He recently confirmed that the cryptocurrency is on track to have another price correction. And this correction will have serious consequences, according to him.

A Rocky Journey Awaits Bitcoin (BTC)

During an interview with Kitco News, Mr. Soloway claimed that the next bitcoin (BTC) price could disappoint many people. He claims that based on his analysis, the king of cryptocurrencies will go down to $12,000even $10,000 in the worst case. Why such a grim prediction? This is because, according to the professional, high inflation and rising interest rates could linger for a long time and prolong the effects of falling prices.

“It’s important to recognize that it’s very possible that we could go below $10,000,” Soloway said. […] This unprecedented new environment for cryptocurrency, due to the Fed and what they’re doing, taking money out of the system… for all of this you have to expect this to be a very rocky course “.

No chance that BTC will drop to 0 dollars

Although he believes that the direction bitcoin (BTC) will take in the next few years will be towards the downtrend, Soloway notes that if the price of the digital asset pay above 20,000 dollars, it will be advantageous. “It will attract more investors.”

For the professional, even though it is true that BTC can reach lower values, the chances of the cryptocurrency falling to zero are very slim. With regard to the possibility that BTC hits $65,000, he believes that it will not be for now. In fact, according to him, it will be necessary wait almost 2 years to hope for such a change.

For the chief market strategist at InTheMoneyStocks.com, there are chances that the value of bitcoin (BTC) will sink to even lower levels than it is currently at. That said, the downtrend will not cause BTC to be worth zero dollars. According to Mr. Soloway, the chances of such an event occurring are nil.

Source: Finbold

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