Market Strategist Predicts Gold To Be Top Performer Among Cryptocurrencies and Equities In 2023
Many analysts and market strategists are making predictions and making their own predictions about assets and prices in 2023. Some individuals predict that cryptocurrencies and gold will perform well while other traders predict that there will be low expectations and results will not be good. According to an interview published on January 27, 2023, Kitco news anchor and producer David Lynn talks with Gareth Soloway, president of inthemoneystocks.com, about his perspective on gold and cryptocurrencies like bitcoin. If we talk about the chairman, he is absolutely sure of this and this is what Parvez Rann is a confident person and tells Lynn that it will outperform most crypto assets.
The Speaker tells the host that I think gold will do the best this year, and with that, you can’t take away from the fact that now the Federal Reserve Bank is looking at interest rates where He was the first. Maybe the Federal Reserve is going to tighten interest rates a bit more but they won’t cut until we see a massive bad recession as market strategists say.
Financial analyst Soloway is not the only person to make statements in this context, who appear to be completely optimistic about gold prices, predicting that gold will definitely go higher. Also in the first week of 2023 it was reported that experts suspect a significant rise in gold prices and Robert Kiyosaki, author of the best selling book Rich Dad Poor Dad, predicts that in 2023 gold will reach $3835 an ounce and Silver will reach $75 an ounce.
Apart from this, Bloomberg Intelligence commodity analyst Mike McGlone is also bullish on gold and predicts that the store-like cryptocurrency will outperform most assets-in-class. At the same time financial expert Soloway does not expect the same performance from bitcoin and suggests that bitcoin may fall to $9000 per coin. Certainly some are supporters of bitcoin and some are critics of bitcoin and similarly some are supporters of gold and some are critics of gold. The executive at inthemoneystocks.com says that he can expect to say that without money printing by the Federal Reserve, bitcoin is headed for 12 to 13000 and maybe as low as $9000. The analyst discussed his last market call which turned out to be accurate and explained that there was no guidance when he started trading and he believes that trading courses can also be beneficial for traders. After registering a gain of over 40% so far in 2023, despite gaining more than 38% in the last 30 days, the analysis shows that bitcoin is still down more than 65% from its all-time high, citing momentum. Reflecting on the momentum, Soloway states that this is “a nice bounce” in a significant way, but also states his belief that bitcoin is still in a downtrend and needs to pick up.
