Crypto Carnage: Why Bitcoin may be pushed to $12,000 and Can UST/LUNA be saved?
“Bitcoin shining during inflation was always a myth,” claims Gareth Soloway, president and CFO of InTheMoneyStocks.com. He tells our Daniela Cambone that Bitcoin has never experienced an era without quantitative easing stemming from the Fed, and has a $20,000 high-end and a $12,000 low-end target for the digital asset. Soloway declares that Terra’s collapse was “incredible” and says it will be difficult for the digital asset to rebound significantly as they continue minting “more coins”. Soloway claims that bitcoin can still be considered “digital gold,” while the precious metal, gold, is a much more mature asset. He states that even after the recent dramatic pullback, gold is still enjoying a positive year when comparing it to other forms stored wealth. He predicts that gold will soon be on its next leg, because the precious metal suffered a sharp decline over the weekend. He concluded that we are currently in a Fed-induced bear market with a recession coming later to 2022,”, so it is important to be an agile investor.
Stansberry Research is FREE for 7 Days. Start now w
Join Daniela Cambone’s exclusive group m
Follow us on Facebook:
Follow us on Twitter:
Follow us on Instagram:
Follow us on LinkedIn:
00: 00 Bitcoin’s recent performance
03: 45 How much lower could bitcoin fall?
06: 28 Should investors get out now?
07: 39 Is this a bad place to get in?
08: 44 What caused bitcoin’s collapse?
10: 00 Bitcoin conference hosted in El Salvador
11: 00 How long will the pain last?
12: 04 The TerraUSD collapse
14: 29 Will bitcoin be the only crypto left standing?
15: 24 The performance of Ethereum
16: 36 Could a bitcoin-backed ETF save the crypto market?
17: 40 Gold outperforming the S&P this year
20: 49 Is bitcoin following the trajectory of Amazon’s stock?
22: 42 Soloway’s final thoughts on investing
I’m a journalist who specializes in investigative reporting and writing. I have written for the New York Times and other publications.