Gareth Soloway Discusses the Crypto Carnage

Stansberry Research, Released on 5/16/22

“Bitcoin shining during inflation was always a myth,” claims Gareth Soloway, president and CFO of InTheMoneyStocks.com. He tells our Daniela Cambone that Bitcoin has never experienced an era without quantitative easing stemming from the Fed, and has a $20,000 high-end and a $12,000 low-end target for the digital asset. “Terra’s collapse was insane,” Soloway exclaims, saying that it will be very hard for it to bounce back significantly since they keep minting, “more and more coins.” Soloway asserts that bitcoin is still viewed as, “digital gold,” but the precious metal gold is a very mature asset in comparison. “Even after a pretty dramatic pullback recently, gold is still having a positive year,” he states when comparing the safe haven to other forms of stored wealth. “Gold should start its next leg up soon,” he predicts, as the precious metal saw a downturn over the weekend. He concludes that we are in a “Fed-induced bear market, with a recession coming later in 2022,” so it’s important to be a nimble investor.