Crypto is Exploding! Confronting Gareth Soloway on His Latest Bitcoin Prediction [Time Sensitive!]

I'm just looking at the chart on bitcoin Here I think this is a fascinating chart Where you see that we've had this you Know recent move up that's been really Dramatic even today bitcoin's having a Great push for me to be bullish overall And think a low is in on crypto and this Isn't a bear Market rally we would Actually have to establish ourselves Bitcoin is exploding and to get answers Today sit down with veteran trader Gara Saloway and I confront him about what The hell is happening with crypto we Take a look at the stock market gareth's Next bitcoin price targets ethereum Price projection by end of year and then The big question what if Gareth is wrong On his bitcoin price prediction so What's your take on the macro Environment we have the FED meeting Coming up we have the banking industry Seeming failing right now what's your Take yeah so so the FED meets Tuesday And Wednesday and and I do expect a 25 Basis point hike there's a small chance It could be zero if the banking Situation really worsens but it seems Like it's it's being being brought under A little bit of control it's not being Fixed but at least we're not seeing more Bank failures at this point in time so I Think a 25 basis point kind of hike Makes the FED save face and if we Remember like this is crazy but just two

Weeks ago Jerome Powell was out and he Basically was like hey we might have to Raise 50 basis points so for them just Go from him saying that in front of Congress to zero that would be a little Egg on his face right so so my guess is They want to just do 25 just get a Little bit out there and then my guess Is after that they'll probably pause Let's jump right into the stock market Primarily they have been uh going Together that in the crypto Market maybe Not so much in the last week but what Should investors be looking for yeah so And you're right about that like in the Last week we've seen Bitcoin and Ethereum Um in particular surge right we've seen Bounces in all coins but I love the fact That we're seeing the leadership take Over in crypto because we're looking at Best of breed that's really taking off And what that tells us is that there is Money in the financial system that Trusts Bitcoin in ethereum enough to go There for safety and remember you know You're seeing the reason why the the Market the stock market's decoupled uh And Bitcoin is going up while the stock Market's going down is because of this Financial turmoil people are are Consciously making the decision that They want to take their money out of the Fiat system and put it into the crypto

Markets and I think that's fantastic I Mean it doesn't necessarily make me Think you know hey the bear Market's Over in crypto but it certainly makes me Think that Bitcoin now more than ever Has a future in our society If there was ever a more bullish Narrative for Bitcoin this is it I mean This is why Bitcoin was created right I Mean this is literally why Um and in terms of the S P 500 I am in The camp that I do think the s p has a Lot of downside to go I do think that What we're seeing in the banking system Is the the Tremors or the earthquakes Before the big one where the economy Does spin into a recession due to these Massive hikes and interest rates and That's going to really hurt the the S P 500 the NASDAQ because again remember You know recession means people have Less money to spend less money to spend Means less earnings per share for stocks And that's going to then bring the Valuations down quite substantially in The next 12 months Some people would call these banking Collapses sort of a Black Swan event Maybe some people saw it coming but has Your investors thesis changed at all Um based off these events no I mean I've Been a bear since since the beginning of 2022 based on the fact that that anytime You hike rates and this is the kicker

And I learned this in the 2008-2009 Financial crisis I even learned this in crisis is that when you hike Rates this substantially this quickly You're gonna break things right things Can't you have conditioned essentially The FED conditioned us as investors to Think that they would always be there to Bail us out and they would never give us Tough love well they're giving us tough Love and it's causing a breakdown in the System so so I do think that again You're in this situation where you have To continue to think that we're headed Towards recession and then that Recession will usher in downside at Least in the stock market I still think It'll bleed into crypto a little bit and Bring bring about potentially lower lows In crypto but again Lower lows for me is Just a buying opportunity at this point So so I'll show you the S P 500 here so This is the s p we were just talking About it and the S P 500 basically you Could see that you had this wedge Pattern we had a lot of sideways chop We've now broken below that lower trend Line and that creates a situation where We probably do ultimately start the Bigger move down over the next month or So in the markets I do think there could Be a technical bounce back to that line Just that's the nature of charts but I Do think again we're headed down here's

Your October of 2022 low that'll be Technical support 3500 and then we're Probably testing this 3375 level which Was your pre-covet high on the S P 500 So overall I think by end of year we Could be down 20 plus percent on the S P From where we currently are which would Take us quite a bit lower close to Really close to you know 3 300 through 3000 on the s p 500. And what gives us that that pivot what What takes us out of there obviously We'll go down because oh less spending Less money in the market what's going to Change 12 months from now yeah so I do Think things are going to get so bad That the FED will be forced to kind of Pivot at some point so you know pausing Rates is fine I mean that's that's nice To see it it kind of takes the stress Off of of us having to worry about how High they're going to go but if you keep Rates at five percent let's see say That's still high rates for the overall Market and the overall economy so it's Going to be where the FED has to really Come to the rescue and I don't think They do it in 2023 but in 2024 my guess Is unemployment spikes to a level it's Not everyone thinks it's going to be oh Well when inflation gets under two Percent or back to two percent I don't Think it's going under two percent for Like five years so I think you're gonna

Have elevated inflation let's say at Three percent the FED is going to hold Back they're gonna say Hey listen we Don't want to create a monster here of Inflation roaring back so let's not cut Rates the eventually the unemployment Gets so high let's say seven eight Percent that they're going to be forced To come out and cut rates and that then Triggers the next buy rally in the Mortgage Now something that Bitcoin has the stock Market doesn't we have the having next Year that's going to cut that Supply Faucet in half is there any is that is That anything to think about you know For investors I mean historically it has Right historically it's been been kind Of the beginnings of the next Bull cycle If you will and I do think that there's A possibility of that I do worry that Again because we're in this Uncharted Territory of Bitcoin you know not having The support of the FED with printing That it could be an issue but then again You know as I said maybe in 2024 the FED Does come to the rescue and then that All kind of coincides I'm just looking At the chart on bitcoin here I think This is a fascinating chart where you See that we've had this you know recent Move up that's been really dramatic even Today bitcoin's having a great push but If we look at it it's actually in a

Parallel Channel and you can see up here Up here and then a couple days ago we Hammered on the 26 000 level today we Pierced that level a little bit and We're still kind of stuck in this Sideways Channel Um of price action so at least over the Next let's say one two three weeks this Channel is what I'm following very Closely can we get above can we stay Above if we can't and we kind of hover Here I would start expecting the Bitcoin Price action to come back in I also Wonder if like you know let's say the Banking crisis does slow down and we do See some stability do we see the money That was put into Bitcoin because of That instability being pulled back out And going back into the Fiat system and This is going to be like I mean this is Going to be a really interesting Interesting situation to watch how this Reacts how do investors that put their Money from the Fiat system into the Bitcoin Market how do they react over The next couple weeks if we see Stability come back So what are your next price targets for Bitcoin bullish and bearish yeah so so Price Target wise I think um ultimately I'm I am on the on the downside here I Think as long as we are still up against This line we have to respect it so I'm Looking for a pullback to the lower end

Of that channel which is around the 20 000 level Um eventually I think that actually Breaks and I do think we ultimately test Over the next two to three months we Test that 15 7 Level again and again Hate to be bearish out there I know so Many people are bullish I'm just not Seeing the signals yet for me to be Bullish overall and think a low is in on Crypto and this isn't a bear Market Rally we would actually have to Establish ourselves back above 30 000. And we're not that far now so I mean it Could be in the next few weeks that I That I change my tune but again it has To be thirty thousand because that's Your midpoint all right so if we look at Psychological levels on the chart Remember that big move up in in early 2021 and then the pullback right and the Low of that pullback of that cycle was Right at thirty thousand and then we Went up and we made a new high and then We came back down we Consolidated here At thirty thousand and finally broke Lower so to establish ourselves back Above 30 000 psychologically would be Huge for the Bitcoin market and that Would actually get me on the side of Thinking okay maybe the lows are finally In until then I've been through too many Bear Market rallies that fooled me so I'm still on the bear Market side until

Proven otherwise And about six months ago maybe more on Our Channel you said that your downside Targets long term for Bitcoin was 12K Has that changed are you more adamant Less adamant yeah I don't think I'm more Or less it's more the charts are in Charge here so right now the charts Haven't changed the tune that we're Still in this bear Market cycle so for Me it would have to be when we get above That 30 000 that's when I start to look To buy pullbacks and and and just to Mention this too is I've been long and Short Bitcoin and cryptos overall Probably about five or six times just in The last month because of this awesome Volatility but I'm talking more on the Macro view the bigger move then I start Kind of huddling on pullbacks and buying The positions to huddle versus just Looking to trade them on the long side Which is what I've been doing recently So so I think again the 12 000 level is Still out there I even think there's a Chance of nine thousand I hope I'm wrong But again I do think that is a Possibility still And Gareth I want to talk about what if You're wrong the signs that we'd see if That were to happen what you and you've Told me before that the three big things You're looking for if regulation happens Whenever that is that'll be a huge Trend

Change when the pet fed not just pause It but but pivots that's a huge Trend Change and then of course if we get Those ta technical indicators if you see Price breaking above that would be a Reason something we have just seen in This last week the Federal Reserve has Not uh has not pivoted their interest Rates but they have bought assets more Assets have came on their balance sheet Does that factor in at all so so that is The that is a potential flag that goes Up right and so essentially what we're Seeing is that the the FED has this Window where banks are allowed to go in And borrow and basically get money from The fed and that's what we've seen so We've seen these banks that have been in So much trouble they're actually being Allowed to take money from the Federal Reserve in that sense so right now again That's kind of like a half a step in That right direction it isn't the Full-fledged where what I want to see is I want to see the money going out to the Public right so not just being kept Within the banks to keep them solvent But actually saying okay QE is to push Money into the system you know like we Saw in 2021 with covet in 2020 with Covet and that's really where that next Big that that first big pivot would be Yeah this is like a baby staff the hints And then you know obviously baby steps

Lead to full steps but we're not there Yet that's right and honestly I think We'll look back at this and say hey Remember when it was like the first Signal of that returning I still think It's probably like about a year away at This point but but I do think you know These are these are signals that the the Economy has been like a drug addict Addicted to to drugs from the FED which Are the this is the printing of money And we don't know anymore how to deal Without that we're like we are literally Addicted to it and so this is the Withdrawal symptoms of us freaking out Over oh my goodness you know rates are Five percent the banks didn't keep up With their their you know risk Assessment the housing market is coming In hard all these different things are Are issues that that is being caused by That fed sharp rise and hike in hike Rates One final Bitcoin question before I ask You about ethereum once Bitcoin bottoms Whenever that is from a technical Standpoint when do you see the next All-time high oh wow so so I think again Uh once we once we're confirmed on that Bottom and again whether that's already Happened or not I think you're looking Three to five years out I wish I could Give better you know a better time frame But I do think again it'll it'll

Coincide at least starting with the the Printing of money again but and also the Regulation right and then that that next Big wave I think is going to be a huge Bull market led by institutional money That's finally ready to kind of say okay We have the transparency from regulation Now let's get involved in crypto and I Even think that a recession if I'm right And the economy goes into a long Drawn-out recession because the FED is Going to be reluctant to print us out of It that actually also helps the Bitcoin Bull market where we start to say okay Stocks are no good because earnings keep Coming down so forget stocks let's go to Crypto and that's where that pivot comes In that real pivot that is the digital Gold of Bitcoin comes in So three to five years out whenever that Bottom happens you would predict if the Bottom has already happens which you Believe would be still more downside but You're saying this having that's coming Up in a year usually we see it an All-time high maybe 12 months after Having you're saying man it's not going To be uh enough this time yeah so I Think I think we probably bottom this Year in Bitcoin but I do think I do Think that people are are really hanging Their hats on that having as being the Catalyst for us to hit new all-time Highs I'm I'm conservatively not so

Thrilled with that until we see that Printing of money and really it flow Into the system significantly and rates Go back to very very low levels which I Think will take longer than just up to The having so so I think again that's The key is that the bottom probably Happens in the next you know six eight Ten months but I think it's going to Take longer than people realize to get Us back to New all-time highs We're seeing altcoins bleed out against Bitcoin in a big big way it's sort of Obvious in Bear markets uh Bitcoin Dominance increases Understanding that ethereum may be lower By the end of the year what sort of your Year year-end price target for before Ethereum for ethereum let's take a look Here so so what I'm in the camp of and You can see this chart it's a great Chart of ethereum here so you can see How we have this resistance trend line Here that slopes down we've just Hammered into it you also have a channel That's sloping up and again both of Those levels there's a Confluence of Levels right in here and that's keeping Ethereum kind of Under Wraps um again if I'm correct then I do think we have one Final flush out on on ethereum my guess Is you'll get one more chance to buy it At Double bottom if I'm right Bitcoin Will make a new low ethereum will

Probably just double bottom and again That'll be that opportunity to kind of Jump in so I say year end or just around Year end probably about a 900 Um dollar price Target on ethereum Gareth I would love to have you back in About four six weeks revisit these Charts I love when you come on I'm Titling this video confronting Gareth Solway on bitcoin and ethereum but I Want you to know that's for Prime Engagement and it's because we talked About the bearish and the bullish final Thoughts for the ultimate daily Army uh All coin daily Army is awesome you guys Are awesome I really respect what you Guys are doing and and educating people I think it's so important and again I Would just say that is like you know Everyone out there just take that one or Two minutes a day to kind of learn a Little bit more education knowledge is Is the most important thing when it Comes to making money in cryptocurrency And again just learning about it Thinking about what the levels are what Needs to happen regulatory wise the Federal Reserve and in fact I think you Guys are doing that you're educating People out so keep doing what you're Doing I really do appreciate it I think Everyone else does as well Thank you


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