Many analysts, market strategists and economists make predictions about asset prices and performance in 2023. Some predict that gold and cryptocurrencies will perform well. While others predict unfavorable results.
Quoting Bitcoin.com, on January 27, 2023, in an interview, Kitco News Anchor and Producer David Lin spoke with Gareth Soloway, president of inthemoneystocks.com, about the prospects for gold and cryptocurrencies such as bitcoin (BTC).
Soloway expressed strong confidence in gold’s performance this year and told Lin that gold will outperform most major assets. “I still think gold will be player of the year (of the year),” said Soloway.
He added, “You can’t escape the fact that the Fed is now keeping interest rates where they are. They might tighten up a bit more, but the bottom line is they won’t cut until we see a full-blown recession going bad,” added the market strategist.
Financial analyst Soloway is not alone in his belief that gold prices will soar this year. During the first week of 2023, Bitcoin.com News reported that experts expected a significant increase in gold prices.