and right now going to the million


dollar question have we done so how we


reached the bottom with Bitcoin yes or


not and why and um what are the what is


the worst case scenario for Bitcoin


either in October we can talk about


October and in the following months I'm


in agreement that we haven't reached the


bottom in Bitcoin yet it doesn't mean


we're not going to get bounces and I


think sentiment is someone on the


bearer's side right now so we may have a


short-term bounce coming in Bitcoin but


I don't think the bear cycle is over for


a couple reasons number one you have the


stock market that I don't think has


bottomed the US is kind of moving


towards a recession we know there's


there's generally a global recession on


the horizon as well so all of these


things will take money away from people


that would normally maybe invest some in


Bitcoin in addition past Cycles Bitcoins


always corrected 80 to 85 percent we've


only dropped about 70 to 75 so you would


think that there'd be a little bit more


downside and in addition I don't think


we've seen a full washout one of the the


comparisons I drew before with the.com


era in the late 90s and early 2000s you


really saw this nasty washout and we


really haven't seen that you haven't


seen all you've seen some projects go


bankrupt we know Celsius and a few other


things but you haven't seen a real major


wash out yet where you've demolished and


a lot of coins have gone to zero


the largest cryptocurrency has been


moving sideways as October Marches On


and the cryptocurrency experiences


downside volatility on low time frames


the sentiment in the market is neutral


with upticks towards the bullish side


but on higher time frames bitcoin's


price has remained constant for months


at the time of creating this video the


Bitcoin price trades at 19


150 with a two percent loss in the last


24 hours and sideways movement in the


last seven days


due to macroeconomic factors the price


of Bitcoin is range bound at its present


levels with occasional retests of


resistance at twenty thousand five


hundred dollars


on the other hand ethereum has been


following the general Trend in the


crypto Market giving back its profit


obtained over the past week at the time


of creating this video the price of the


second largest cryptocurrency trades at


one thousand three hundred dollars with


a two percent loss and sideways movement


in the last week


other cryptocurrencies in the top 10 by


market capitalization records similar


price action with the exception of xrp


this token is demonstrating strength


against the trend and continues to knock


on profits over the same period in a


recent interview the chief Market


strategist of inthemoneystocks.com


Gareth soloway discusses the next PATH


for the markets please watch share and


like this video as Gareth soloway breaks


down all the uncertainties if you have


any comments or observations please drop


them in the comments section below and


subscribe to the channel thanks and so I


think you still have to see that full


washout which is actually very very


healthy for the market it's what you


want to see if you're a long-term


believer in Bitcoin like myself now in


terms of a worst case scenario


um so my general Target in my best case


is 12 to 13 000 that's where I I think


the the best case would be my worst case


unfortunately would be 3 500 which would


put it in alignment with


amazon.com.com collapse so in in 2000


and amazon.com topped out in the.com Era


and it collapsed 95 and so if Bitcoin


were to do that it would put it around 3


500 that would be the worst case


scenario


um so I'm not sure if that'll happen


though and what are your thoughts uh


about October uh what can we expect for


the followings let's say four to six


months so in October at least uh for us


now I'm actually slightly bullish near


term but going out four to six months I


do think we head back down I think by


mid 2023 to to the to the second half of


2023 is when Bitcoin would bottom out


per last Cycles the last few cycles and


I think you'll see that coincide with


the global stock markets having another


leg lower once they see that we are in a


global recession and then the biggest


question for me is that in past


recessions in past tough Market times


the central banks have always come out


and printed money with the US now having


a higher inflation rate it's very hard


for them to print our way out of a


recession and so if the FED can't print


us out of this next recession it means


it's going to be a long drawn out


recession and that's going to be really


tough for the the financial markets to


handle you said that we're going to


reach bottom in the second half of 2023


that means that you're predicting and in


your opinion


um 2023 is going the recession is going


to last longer than people think I think


it that's exactly it and I think the


kicker here is you know past recessions


for the last 20 years whenever we've


gone into a recession the FED has


started quantitative easing which is


printing money or lowering interest


rates we're going into now a new type of


recession we haven't seen in a long time


where we have the high inflation and we


know that if they start lowering


interest rates and printing money then


inflation is going to go even higher so


it's going to make the FED unable to get


us out of this recession which I think


Keeps Us in recession for a longer


period than normal yeah so I mean you


basically have this scenario where the


FED has kind of been The Rescuer the one


coming to the rest Rescue of the


financial markets every time we go into


a tough period and they they just won't


be able to this time at least not as


early on as the markets would like what


is your strategy at the moment uh are


you dollar cost averaging all the way


down what would you not recommend but


what are you doing right now what is


your strategy yeah and that's a great


question and number one you're right I


mean this is a lot of kind of sobering


talk that we're doing here but I want to


remind everyone that from these type of


events the best opportunities arise and


so you know you know people make more


money by buying things in a bear market


and then the rebound afterwards is


tremendous and so I actually say to


myself when we go through tough times I


always look at it in a positive light of


saying okay this is going to give me a


great opportunity to buy gold buy stocks


buy buy Bitcoin at the right levels and


so going to that yeah with Bitcoin what


I would recommend and you're right I


have no idea where the actual bottom


will be all I can do is look at the


charts and let them guide me so I think


when you're below 20 you basically start


inching in with very little amounts and


you just dollar cost average all the way


down so so for instance what I like to


do is I divide the amount of money that


I want to invest in Bitcoin let's say I


have a hundred thousand dollars um and I


would divide it into five segments of


twenty thousand dollars and what I would


do is let's say at 18 put 20 000 in and


then at 15 another 20 and then it's that


12 another 20. and the idea is that you


don't know if it's going to bottom at 15


at 10 or 12 but by just kind of throwing


the money at equal installments on the


way down you're you're gonna guarantee


that your average price will be


relatively good for the next Bull Run as


outside of like putting money in the


markets or not uh would you recommend or


what is your strategy in terms of like


are you keeping cash at home are you


like what is your strategy in terms of


like Banks and Fiat money so so in terms


of Fiat money like I think it's always


smart to keep some money in at home just


in case you go to the bank in the bank


is closed down or there's a you know a


grid failure or something like that


where you can't get it right yeah


exactly anything like that so so I don't


have a lot but I have kind of the


emergency you know amounts and then I


also am a big believer on having some


gold and silver on hand because again


even if you run out of fiat currency or


let's say the dollar collapses or any


currency collapses gold and silver


should hold their value and you could


always you know go buy something with a


little piece of silver or something like


that so what do you think is the future


of Bitcoin tell us in the comment


section below and also don't forget to


like And subscribe see you soon with the


next video thank you