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This is what happens to Bitcoin if Russia invades Ukraine; Gareth Soloway has bad news for bulls

David Lin

Kitco News

Gareth Soloway, chief market strategist of InTheMoneyStocks.com, discusses with David Lin, anchor for Kitco News, the near-term targets for Bitcoin, gold, and stocks.

“Right now, I don’t see [$100,000 Bitcoin price by year-end] as a possibility, I really don’t. I wish I did. I know there’s a lot of people that are just holding and unfortunately, a lot of people got in at this $60,000 range,” Soloway said.

Soloway said that he still maintains his $20,000 medium-term Bitcoin price target, while he is bullish long-term.

On tensions in Eastern Europe, Soloway said that a Russian invasion of Ukraine may in fact provide tailwinds for Bitcoin.

To find out why escalating tensions in Eastern Europe could be beneficial to Bitcoin, watch the video above.

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By David Lin

For Kitco News

Contact dlin@kitco.com
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.