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Bitcoin Could Dip to $15,000 Amidst Stock Sell-Offs, Warns Market Expert Gareth Soloway

Bitcoin Could Dip to $15,000 Amidst Stock Sell-Offs, Warns Market Expert Gareth Soloway

Market expert Gareth Soloway has issued a warning, predicting that Bitcoin’s price could fall to $15,000 if there is a significant stock market sell-off, despite notable investments from whales.

Soloway from reflected on Bitcoin’s (BTC) historical trends, highlighting moments such as the introduction of Bitcoin futures in 2017 and Coinbase’s public listing in 2021.

In addition, he sees the potential approval of Bitcoin spot exchange-traded funds (ETFs) in the US as another key event that could fuel bullish sentiment.

While acknowledging that the outflow of funds from the Grayscale Bitcoin Trust (GBTC) and the attractive discount on GBTC shares present an appealing opportunity for investors, Soloway remains cautious about Bitcoin’s immediate future, expressing a more pessimistic outlook.

Deutsche Bank analysts appear to agree with this cautious sentiment, as a survey of 2,000 respondents from the US, the UK, and the Eurozone revealed that one-third of them expect Bitcoin’s value to fall below $20,000 within a year.

In contrast to these bearish predictions, some major investors have increased their Bitcoin holdings, accumulating 76,000 units worth around $3 billion since the beginning of the year.

This strategic move could indicate their expectation of a potential price increase following the Bitcoin halving scheduled for April, a historically significant event associated with upward price movements.

Recently, a report shows that the number of Bitcoin (BTC) addresses with more than 1,000 BTC has reached an all-time high, indicating resilience among large holders.


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