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Gold Could Be a Better Investment Tool Than Cryptocurrencies in 2023

renowned analyst gareth soloway claims that despite the recent rise of cryptocurrencies, gold is still a better investment tool.

On Thursday, Gareth Soloway – President and Chief Market Strategist at – provided strong insight into the projection that gold will outshine cryptocurrencies and stock market performances in 2023. He stressed his conviction that “gold will be the best performer” this year and pointed to the U.S. Federal Reserve’s expectation of a drastic recession before any rate cuts are applied.

renowned analyst gareth soloway claims that despite the recent rise of cryptocurrencies, gold is still a better investment tool.

Many Economists Think Gold Would Be A Better Investment

On Thursday, Jan. 27th, 2023, Kitco News Anchor and Producer David Lin had the opportunity to interview Gareth Soloway – President of about his outlook on gold and cryptocurrencies such as bitcoin (BTC). Unquestionably certain of gold’s performance this year, Soloway confidently declared it would outshine most other major assets.

According to the market strategist Soloway, gold is likely to be the top investment for this year. With interest rates remaining steady and unlikely to reduce until a major recession hits, “you can’t get away from” investing in gold. Furthermore, he anticipated that the Fed would tighten its policies slightly before cutting them significantly.

Predictions of a dramatic increase in gold prices this year have been echoed by the financial analyst Soloway and other specialists. During early 2023, News reported that experts surmised an unprecedented surge in the price per ounce of gold. In fact, Robert Kiyosaki — author of Rich Dad Poor Dad — forecasts that it will reach $3,800, and silver will hit an all-time high at $75!

Soloway Claims that Bitcoin Could Crash

Mike McGlone, a commodity analyst at Bloomberg Intelligence, is confident in gold‘s potential as an investment but believes that cryptocurrencies like bitcoin will be the top performers among asset classes. Unlike his prediction for other assets, Soloway anticipates a different outcome when it comes to BTC and suggests its price could dip all the way down to $9000 per coin. The InTheMoneyStocks executive declared: “I’m willing to bet that without Fed money printing support, BTC would be headed towards twelve or thirteen thousand – possibly even as low as nine.”

Despite the gain of more than 40% so far in 2023 and an impressive increase of over 38% in the past 30 days, Soloway indicated that bitcoin (BTC) is still down a staggering 65% from its all-time high. Speaking about BTC’s and other cryptocurrencies‘ recent surge, Soloway declared “it’s a nice bounce,” yet insisted it’s “still in an overall downtrend.”

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