Bitcoin May Drop to $15,000 If Stock Market Sees a 50% Sell Off: Market Expert

Gareth Soloway, a market expert, has predicted that Bitcoin's price might fall to $15,000 if the stock market sees a 50% price drop.

Soloway, who works at verifiedinvesting(.)com, talked about Bitcoin's past and possible future. He also talked about past increases in Bitcoin's value, like when Bitcoin futures were launched in 2017 and Coinbase went public in 2021. Now, he's looking at the approval of Bitcoin spot ETFs in the US as another important bullish event.

Soloway talked about the outflow of money from the Grayscale Bitcoin Trust (GBTC), where he called the big discount on GBTC shares “a bonus for investors which people are trying to take advantage of”. Despite this, he predicts Bitcoin's price might drop, showing a negative outlook.

Deutsche Bank's analysts also predicted a possible price drop, with a survey showing that out of 2000 people living in the USA, UK, and Eurozone, a third of them believe Bitcoin will go below $20,000 within a year.

Despite these predictions, some big investors are buying more Bitcoin, adding 76,000 units worth about $3 billion since the year started. They might be expecting a price increase after the Bitcoin halving in April, which has historically led to higher prices.