My New Bitcoin Bottom Price Prediction After FTX Collapse | Gareth Soloway

My New Bitcoin Bottom Price Prediction After FTX Collapse | Gareth Soloway

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In an interview with the Paul Barron Network, trader Gareth Soloway gave his take on where he believes the Bitcoin bottom will be after the FTX Collapse. For the past few months, Soloway has been adamant about the Bitcoin price heading lower, despite many pundits and analysts saying that the Bitcoin bottom was already in. Soloway called for Bitcoin to trade between $10 and $13k, with the possibility of reaching as low as $7k but with the FTX collapse, Soloway now believes we are in the last leg down before we bottom in the near future. Soloway broke down his analysis, comparing the FTX collapse to that of Lehman Brothers, whose catastrophic collapse during the 2008 crisis caused a 40% downtrend of the S&P 500 after news broke of its insolvency. The eerily similarly technical analysis between Lehman Brothers and FTX has Soloway believing that we can see another 40% drop from the current price of $16,681.81, which would have Bitcoin bottom at around $9,500. The Lehman Brothers collapse took about 6 months to unfold, which, if the same timeline occurred for FTX, would call for Bitcoin to bottom around April or May of 2023. According to Soloway, this timeline aligns perfectly with the bearish economic landscape brewing, as we await for the full effect of the Fed’s interest rates to hit the economy.

Gareth Soloway is renowned for his macroeconomic analysis, technical chart analysis, and trade signal alerts. He has created proprietary indicators like the Confirmation Signal, River Theory, Three Tail Theory, cycle analysis and a sentiment indicator that is game-changing.
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"This FTX Collapse Is So Similar To Lehman Brothers" | Gareth Soloway