At the recent Bitcoin 2023 conference in Miami, the most popular cryptocurrency in the world, Bitcoin, was a major topic of conversation. Gareth Soloway, Chief Market Strategist at inthemoneystocks.com, is one of the speakers at this conference who is generating a lot of noise.
Market Prediction and Bitcoin Outlook by Soloway
The way Gareth views the market is intriguing because he contends that investors may have overpriced it. He emphasises that although the market may be anticipating a halt in the Federal Reserve's approach to interest rates, a pause does not always portend an impending rate decrease. His pessimistic outlook on the equities markets is reflected in this cautious viewpoint.
It is important that he thinks that the Federal Reserve will not lower interest rates unless inflation dramatically decreases, and that inflation will continue to be high for the foreseeable future. He maintains that these elements have a role in his forecast of stagflation in the near future.
Soloway stresses that traders and investors need to be aware of the ongoing debt ceiling issues in Washington DC.
Future Bitcoin Prediction
Contrary to the widely believed idea that Bitcoin's value would keep rising, many analyst believe that a market reevaluation might potentially send the currency's value further lower. Coinpedia sources says a bitcoin price prediction 2023 can drop to as low as $23,218 whereas analyst Gareth postulates a drop to as low as $9,000 into 2024.