Regulation Is Key To Triggering Bitcoin’s Next Rise In 2023 By DailyCoin

• 20+ year experienced trader Gareth Soloway says that “there have to be rules.”
• Soloway claims regulation will be key to upward momentum for crypto in 2023.

Gareth Soloway called 2022’s best asset, now he reveals 2023’s best investment

Gareth Soloway, a ‘master trader’ and technical analyst of over 20 years, told Kitco News that regulation will be key to sparking Bitcoin’s next move up.

Soloway called for a bear market and a price of $20,000 during the November 2021 Bitcoin peak.

“When you have mom and dad saying ‘hey, this is so easy, I can’t believe how much money I’m making,’ that’s usually the end of the move,” he said.

Regulation is coming, and that is a good thing

Soloway is now hopeful for 2023 with his Bitcoin analysis, and that’s because he sees regulation as a good thing.

Soloway envisions a decoupling of Bitcoin from traditional financial markets such as NASDAQ.

“Bitcoin is going to start to bottom out, and actually start to show up in 2023…

That means it has to be decoupled from risk assets, and the key to this is going to be regulation.”

Lack of regulation has been cited as a key reason for the collapse of FTX, and investor protection is now a priority for regulators worldwide.

“You need transparency…

There have to be rules where they can’t take customer funds and put them elsewhere, Soloway said.

Soloway believes these rules will encourage institutional investors to return to Bitcoin and invest. He claims that the bull market could start as soon as May 2023.

As it stands, crypto regulation is an uncertainty. But once clarity is provided, Soloway believes crypto prices will rise and investors will regain much-needed confidence in the industry.

On the other side

• As 2022 draws to a close, investors and analysts look to 2023 for an improvement in market conditions. However, investors should be cautious in what appears to be a deteriorating macro environment.

Why you should care

Gareth Soloway is a respected voice across the financial industry. It’s good to hear that there is hope for upward movement with cryptocurrencies in 2023. While Soloway doesn’t speak with certainty, investors should prepare for several scenarios going into the next year, including positive ones!

What else is happening in the financial world?

The Fed raises interest rates by 50 bps to the highest since 2007

See the original on DailyCoin