- Gareth Soloway, Robert Kiyosaki, and several other prominent traders expect Bitcoin to retrace to $20,000 levels soon.
- Luke Lloyd, a leading investment strategist firm, has previously predicted Bitcoin to drop to $24,000.
- However, almost all these investors believe Bitcoin will recover from the dip quickly and surge to above $100,000 by the year-end.
On June 15, Bitcoin hit a relative high of $41,300, managing to revive some of its losses from when the prices crashed in May. However, the leading cryptocurrency’s price was severely rejected at $41,000 price levels and has since then been in an obvious bear market.
As of now, Bitcoin is trading at around $32,800, down by more than 7% in the last 24 hours, according to data by Coinmarketcap. While Bitcoin is no stranger to volatility, numerous prominent traders have predicted that Bitcoin will initially drop to $20,000 price levels before commencing its next rally.
Gareth Soloway Expects Bitcoin to Drop Below $20,000
Gareth Soloway, president and chief market strategist at InTheMoneyStocks.com, expressed his opinion about Bitcoin in an interview with Kitco News. Soloway, who has made a number of important correct calls so far, asserted that Bitcoin will correct to levels below $20,000.
Soloway had previously correctly predicted the Bitcoin crash in May, specifically stating that Bitcoin will retrace to $30,000 price levels — which is exactly what happened. Now, he predicts Bitcoin price to drop to below $20,000. He stated:
… eventually, you will see a break lower to that $20,000 level — and that’s where I will be buying.
Robert Kiyosaki Predicts $24,000 As Bitcoin’s Next Stop
Robert Toru Kiyosaki, an American businessman and author of the best-selling financial guide book “Rich Dad, Poor Dad”, called the current market prices the “biggest bubble in world history”. In a recent tweet, he stated that he is anticipating Bitcoin to drop to $24,000.
Biggest bubble in world history getting bigger. Biggest crash in world history coming. Buying more gold and silver. Waiting for Bitcoin to drop to $24 k. Crashes best time to get rich. Take care.
— therealkiyosaki (@theRealKiyosaki) June 19, 2021
While a number of factors are driving the current slide, a crypto ban in China and fear of excessive regulations by the US are the most influential ones. Furthermore, the Federal Reserve recently announced that it will raise interest rates, which provoked a hit to financial markets but worry for Bitcoin.
Luke Lloyd Is Awaiting Bitcoin to Fall to $24,000 As Well
Luke Lloyd, a leading wealth advisor and investment strategist firm, had previously (in late February 2021) predicted that Bitcoin will drop to as low as $24,000. The firm attributed regulation fears as the catalyst for this fall.
A number of other investors expect such a drop, too. However, what is common among almost all traders is that they see Bitcoin recover this dip soon, and finish the year while trading above $100,000 price levels.
Alex Mashinsky, CEO and chairman at Celsius Network, is one of these bulls. He asserted that the Bitcoin price will soar to $160,000 in the next rally. Mashinsky has also been quite successful in his predictions; he had correctly predicted a Bitcoin correction to $30,000.