Crypto predictions of a professional trader

Despite the bear market, the price of bitcoin has risen significantly since the beginning of the year. It is currently trading at $28,400. This exponential growth can be explained in particular by the banking crisis, leading to a loss of investor confidence in the traditional financial system. According to a professional trader, this rise will unfortunately not last. “Before another crypto rally, the value of Bitcoin should drop to $13,000,” he said in his crypto prediction.

Pro trader says Bitcoin $BTC to dive to $13k before major rally as ‘financial crisis 2.0′ unfolds. #Bitcoin #cryptocurrency https://t.co/GMdxP0w9cG

— Finbold (@finbold) March 29, 2023

Gareth Soloway’s: “By the end of the year, Bitcoin’s value will reach $12,000 to $13,000”

More than just a professional trader, Gareth Soloway also holds an important position at InTheMoneyStocks.com. In an interview with Kitco News on March 29, he announced a most surprising crypto prediction. Given Bitcoin‘s upward trend since the beginning of the year, it would indeed be hard to believe that it will trade for less than $12,000 by the end of the year.

“Despite the current significant rise in the most influential digital asset, it will fall to levels not seen since November 2020,” Soloway said in his interview.

Bitcoin’s price directly linked to the banking crisis

Soloway attributes Bitcoin’s meteoric rise to the banking crisis (including the collapse of the three major U.S. banks). Many people now prefer to invest their funds in Bitcoin. As a result, the value of this crypto has increased by 70% in a matter of days.

According to Soloway, this Bitcoin craze will fade once the traditional financial system stabilizes. When that happens, the value of the crypto will drop to $9,000. Soloway does state, however, that Bitcoin declines with the stock market during an economic crisis.

Soloway predicts a decline in Bitcoin’s value by the end of the year. His crypto prediction, however, underscores an important point: Bitcoin will recover afterward and continue its long-term growth trajectory. Does Bitcoin then constitute a true alternative to the current financial system? We have to think about it.