Gareth Soloway, president and chief market strategist at inthemoneystocks.com, believes that gold will outpace cryptocurrencies and stocks by 2023. On Thursday, the market strategist emphasized his conviction that “gold will outperform ” This year, and argued that the US Federal Reserve will not reduce rates until a “massively nasty recession” occurs.
Gold To Overpower Major Assets In 2023 Strategist Gareth Soloway’s Market Prediction
Many analysts, economists, and market strategists make predictions about the future of asset prices and performance for 2023. Some people foresee the success of cryptocurrencies and gold, while others anticipate a more pessimistic outcome.
On January 27, 2023 in a Thursday interview, Kitco News presenter and producer David Lin spoke with Gareth Soloway, president of inthemoneystocks.com, about the outlook for gold and cryptocurrencies like bitcoin (BTC). Soloway expressed his firm belief in gold’s performance in the upcoming year. Lin asked him if it will outperform most major assets.
“I still think that gold will be the best [this year]Soloway told the host. “You can’t ignore the fact that the Fed is now keeping interest rates where they are. They’re probably going to tighten a bit more, but the bottom line is they’re not going to look to cut until we see a massively nasty recession,” The market strategist added.
Financial Analyst Soloway is not the only one who predicts that gold prices will increase in the following 12 months. During the first week of 2023, Bitcoin.com News experts believe that gold prices will grow significantly in the future. Robert Kiyosaki, author of the bestselling book Rich Dad Poor Dad, believes that gold will be $3,800/oz by 2023, while silver will reach $75/oz by 2023.
Bloomberg Intelligence Analyst for commodities Mike McGlone also has high hopes for gold but forecasts that cryptocurrencies such as bitcoin will outperform other asset classes. Soloway believes BTC (BTC) won’t be as successful, which could lead to BTC dropping to $9,000 per coin. According to inthemoneystocks.com, the government of:
I’d venture to say that without the Federal Reserve Bitcoin printing is a way to print money. It could be as little as $9,000.
Soloway noted that his past market calls were correct. He explained that he was trading when there was no guidance. Traders may find trading programs useful.
Despite a 40% gain in 2023, and a 38% rise in the last 30 days. Soloway observed that bitcoin (BTC), is still more than 65% below its all-time high. Referring to BTC’s current surge Soloway stated, “it’s a nice bounce,” However, he strongly believes that Bitcoin Is “still in a general downtrend.”
What do you think of Gareth Soloway’s predictions for gold and crypto currencies in 2023? Which of his views do you agree with? You can share your ideas with him in the comments section below.
