Bitcoin Price May Get Boost Then Plummet Down to $12K, Says Trader Who Predicted Crash



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"I have a [bitcoin] target around $12,000," says technical trader Gareth Soloway, president and CFO of InTheMoneyStocks.com. There is a, "confluence of levels around $12,000 [for bitcoin]," since entering this ice age for cryptocurrencies, he details to our Daniela Cambone. "My long-term view on bitcoin is extremely bullish," Soloway continues saying $60,000 per coin is the low-end of what's in store. "The key for crypto is how it doesn't have an infinite printing issue," which fiat currencies face, he asserts as a main claim for his bullishness. Gold holding its own signals an incredible run on the side of technical analysis, Soloway continues, saying that, "gold is being accumulated by big money and will have a big run in the next 12 months." "Logic is the most powerful thing in investing," and most people get caught up in emotion when it comes to trading, he concludes.

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Category
Cryptocurrencies
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