Gareth Soloway, a seasoned Wall Street trader, forecasts a potential decline in Bitcoin's price to the $73,000-$75,000 range, citing reduced volatility and decreased institutional interest as contributing factors. Soloway, with 27 years of trading experience, warns of a broader market correction driven by overvaluation in AI-related stocks, which have significantly contributed to the S&P 500's gains. He suggests that the current market conditions could lead to a 10%-15% correction.
Soloway also predicts a cautious outlook for Ethereum, expecting it to fall to the $2,800-$2,700 range. Despite these short-term challenges, he remains optimistic about Bitcoin's long-term potential as a "digital gold" that could outperform traditional markets. Additionally, he anticipates gold prices may initially drop to $3,500 before rising to $5,000 by 2026, influenced by the Federal Reserve's monetary policies. Soloway advises investors to manage risks and prepare for potential market volatility.
Veteran Trader Predicts Bitcoin Dip to $73,000 Amid Market Correction
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