Gareth Soloway, chief market strategist of InTheMoneyStocks, discusses potential corrections for both Bitcoin and the stock markets and trades to make during market volatility.
Soloway told David Lin, anchor for Kitco News, that Bitcoin could pull back to $30,000 before climbing back.
Long-term, Soloway is still bullish on Bitcoin, but sees the charts as “ridiculously overdone” for now.
On stocks, Soloway remains cautious.
“At some point, I expect this longer-term wedge that goes back to the lows of March, 2020 to break to the downside, and then you will see a bigger decline” he said.
For the trades that Soloway is making now, watch the video above.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.