• Gareth Soloway, a veteran trader, recently shared his insights on the current state of the cryptocurrency market and the stock market with Altcoin Daily.
• The recent financial turmoil has led investors to seek alternative investment options, with cryptocurrencies being popular.
• Soloway predicts that Bitcoin will reach $100,000 by the end of 2022 and Ethereum will reach $10,000 by the end of this year.
Gareth Soloway’s Insights on Cryptocurrency Market and Stock Market
Gareth Soloway, a veteran trader, recently shared his insights on the current state of the cryptocurrency market and the stock market with Altcoin Daily.
Investors Exiting Fiat System for Cryptocurrency
The recent financial turmoil has led investors to seek alternative investment options, with cryptocurrencies being popular. Soloway believes that the decision to exit the fiat system is conscious by investors seeking a more stable investment option.
Federal Reserve Meeting
The Federal Reserve meeting is expected to result in a 25 basis point hike, which Soloway believes will save face for the Fed. He predicts that after the hike, investors will turn towards cryptocurrencies even more, resulting in a further increase in their prices.
Recession Imminent
Soloway predicts that the stock market is headed for a recession due to the current financial turmoil. The recession will lead to decreased spending and earnings per share for stocks, resulting in a substantial decline in valuations in the next 12 months.