Expert is confident that bitcoin will fall to $ 12 000

Cryptocurrency expert and chief strategist at InTheMoneyStocks Garrett Soloway has shared his predictions about the future value of the flagship cryptocurrency — Soloway expects BTC to reach $ 12,000.

According to Garrett Soloway in an interview with Kitco News, based on the charts of digital assets, the market is still bearish and will remain so in the coming months. Given that on August 31, bitcoin showed the worst August performance since 2015, falling by 13.9%, we should not expect positive changes now, the expert said.

It is worth noting that in October 2021, Garrett Soloway predicted a drop in the value of BTC to $ 20,000, so it is likely that this year’s forecasts will come true. Soloway also advised investors not to rush to sell bitcoin during a fall, but to buy at the bottom and wait for the value to rise: «Buy some BTC for $ 21,000, then a little more for $ 18,000, then for $ 15,000, and so on, and then wait or act.»

As a reminder, financial analyst Michael Berry, known for predicting the global financial crisis in 2008, warned investors about the biggest crash in history in the money asset markets. on August 31, he posted on Twitter a chart of the S&P 500 stock index of US equity companies, which shows an 18% drop from its peak in December 2021.