Market Strategist Gareth Soloway Forecasts $15K Bitcoin in Case of Stock Market Decline

In a recent interview with Gareth Soloway, the chief market strategist at verifiedinvesting.com, he suggests that bitcoin could potentially reach the $15,000 level if there is a significant stock market sell-off. Soloway shares his insights on analyzing data sets and drawing conclusions to forecast future trends. He highlights the correlation between significant events and bitcoin’s bull markets in 2017 and 2021. Soloway also discusses the recent outflows from GBTC and expresses concern about a bearish view on BTC in the event of a peak in the S&P market or de-risking in the broader markets. Despite these projections, Soloway remains optimistic in the long term, expressing his intention to increase his BTC holdings if prices continue to decline.

Soloway Predicts Potential Bitcoin Dip to $15K

In a recent interview with Gareth Soloway, the chief market strategist at verifiedinvesting.com, Soloway suggested that bitcoin might revisit the $15K level should a significant stock market sell-off occur.

Insights into Bitcoin’s trends

Two days ago, in a freshly released Youtube video, Gareth Soloway of verifiedinvesting.com engaged in a new interview with Michelle Makori, Kitco News’ lead anchor and editor-in-chief, delving into bitcoin’s latest trends and its potential future trajectory. Soloway shared insights on his approach to analyzing various data sets for forecasting future trends and drawing conclusions. He highlighted the alignment of the 2017 and 2021 bitcoin bull markets with significant events: the introduction of regulated bitcoin futures in 2017 and the Coinbase initial public offering (IPO) in 2021.

Soloway mentioned that significant news stories create hype and mark the top in bitcoin. For him, the current bitcoin price level and its recent downturn following specific developments seem logical. He spoke about the outflows from GBTC, noting that there was a lot of smart money that bought ahead of this news. The substantial discount at which GBTC was trading was kind of an extra bonus to them as well. The market strategist said his greater concern is a bearish view on BTC that could occur if we see a peak in the S&P market or a de-risking occurrence in the broader markets.

Alignment with significant events

Soloway pointed out the alignment between significant events and bitcoin bull markets. He mentioned the introduction of regulated bitcoin futures in 2017 and the Coinbase IPO in 2021 as examples of events that coincided with the start of bitcoin bull markets. These events generated a lot of hype and marked the top in bitcoin at those times.

Outflows from GBTC

Soloway highlighted the outflows from GBTC as a factor in the recent downturn of bitcoin. He noted that many smart investors bought into GBTC ahead of this news. The substantial discount at which GBTC was trading provided an extra incentive for these investors. It is important to monitor the outflows from GBTC as they can impact the overall sentiment towards bitcoin.

Concerns about a bearish view on BTC

Soloway expressed concern about a bearish view on BTC if there is a peak in the S&P market or a de-risking occurrence in the broader markets. He believes that bitcoin could head back down if we see a significant drop in the stock market. This bearish view is something to watch closely as it could have an impact on the future price of bitcoin.

Possible retesting of $15,000 level

Based on his analysis and concerns about a potential stock market sell-off, Soloway predicts that bitcoin could retest the $15,000 level. If there is a 50% drop in the stock market, he sees bitcoin potentially reaching this level again. It is important to note that this is a prediction and not a certainty, but it is something to consider when assessing the future trajectory of bitcoin.

Deutsche Bank survey results

Deutsche Bank recently released a survey involving over 2,000 respondents, where a third anticipated BTC’s value falling below $20K. This survey reflects the sentiment of a portion of the market and adds to the overall discussion about the future price of bitcoin. It is important to take these survey results into account when analyzing the market sentiment towards bitcoin.

Other projections from Arthur Hayes

Arthur Hayes, the former CEO of BitMEX, predicts that BTC could hit lows of $30K to $35K. This projection aligns with Soloway’s prediction of a potential retesting of the $15,000 level. It is interesting to see multiple market experts expressing similar views on the future price of bitcoin. These projections provide additional insights into the potential range of bitcoin’s price movement.

Long-term optimism about Bitcoin

Despite the short-term projections and concerns about a potential dip in bitcoin’s price, Soloway remains optimistic about bitcoin in the long term. He expressed his intention to increase his BTC holdings if prices continue to decline. This long-term optimism is based on his analysis of bitcoin’s previous bull markets and the potential for continued growth and adoption in the future.

Previous accurate predictions

In late October, Soloway accurately predicted the approval of spot bitcoin ETFs in early 2024. This prediction demonstrated his ability to analyze the market and make accurate forecasts. It provides credibility to his current prediction of a potential dip in bitcoin’s price to the $15,000 level. It is important to consider his track record when assessing the validity of his projections.

Current Bitcoin position

As of Sunday, Jan. 28, 2024, bitcoin is maintaining its position above $42,000 and is currently undergoing a phase of consolidation. It is important to monitor the current position of bitcoin and any developments that could impact its price movement. The market is constantly evolving, and staying informed is crucial for making informed investment decisions.

In conclusion, Gareth Soloway predicts a potential dip in bitcoin’s price to the $15,000 level if a significant stock market sell-off occurs. His predictions align with significant events, concerns about a bearish view on BTC, and outflows from GBTC. Other projections from market experts, such as Arthur Hayes, support the potential retesting of the $15,000 level. Despite these short-term projections, Soloway remains optimistic about bitcoin in the long term. It is important to monitor the current position of bitcoin and consider historical data and expert analysis when making investment decisions.