Gareth Soloway Says Bitcoin Could Drop 38% and Retreat to $50,000
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Gareth Soloway (Verified Investing) warns Bitcoin could drop ~38% to $50,000, citing a prominent bear-flag technical pattern and technical indicators. He attributes the risk to structural headwinds and compares current macro/market signals to the dot‑com era, noting S&P 500 and Nasdaq patterns that suggest broader market vulnerability. Takeaway for crypto: heightened downside risk for Bitcoin price and market sentiment; signals focus on technical/market risk rather than protocol or security issues.
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- Verified Investing’s chief market strategist predicts a 38% decline for Bitcoin soon.
- Gareth Soloway based his prediction on technical indicators and structural headwinds.
- Soloway believes the global market is experiencing a repeat of the dot-com era.
Gareth Soloway, chief market strategist and president of Verified Investing, thinks Bitcoin could drop 38%, pulling back to $50,000, citing a prominent bear flag pattern.
Soloway made the statement during a recent interview with David Lin of the David Lin Report. According to Soloway, while Bitcoin is signaling a potential crash, the S&P 500 is flashing signals that resemble what was seen at the peak of the dot-com boom.
Striking Similarities From Past Eras
During the interview with Lin, Soloway compared current market conditions with the 2000 era. He noted that the Nasdaq has climbed above 25,000 in a pattern…
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