Gareth Soloway, president and chief market strategist at inthemoneystocks.com, predicts that gold will outperform cryptocurrencies and equity performances in 2023. In an interview published Thursday, Soloway emphasized his belief that “gold will be the best performer” this year and stated that the U.S. Federal Reserve will not cut rates until a “massively nasty recession” occurs.

Gold to Outperform Major Assets in 2023: Strategist Gareth Soloway’s Market Prediction

Many analysts, market strategists, and economists are making predictions about asset prices and performances in 2023. Some predict that gold and cryptocurrencies will perform well, while others expect less favorable outcomes.

On Jan. 27, 2023, in an interview published Thursday, Kitco News Anchor and Producer David Lin spoke with Gareth Soloway, president of inthemoneystocks.com, about the outlook for gold and cryptocurrencies such as bitcoin (BTC). Soloway expressed a firm belief in gold’s performance this year and told Lin that it will outperform most major assets.

“I still think gold will be the best performer [this year],” Soloway said to the host. “You can’t get away from the fact that the Fed is now keeping interest rates where they are. They’re probably going to tighten a little bit more, but the bottom line is they’re not going to be looking to cut until we see a massively nasty recession,” the market strategist added.

The financial analyst Soloway is not alone in his belief that gold prices will surge this year. During the first week of 2023, Bitcoin.com News reported that experts suspect a significant rise in gold prices. Robert Kiyosaki, author of the best-selling book Rich Dad Poor Dad, predicts that gold will reach $3,800 per ounce and silver will reach $75 per ounce in 2023.

Bloomberg Intelligence commodity analyst Mike McGlone also has high hopes for gold, but predicts that cryptocurrencies such as bitcoin will outperform most asset classes. Soloway does not expect similar performance from bitcoin (BTC) and suggests BTC could drop to $9,000 per coin. The inthemoneystocks.com executive said:

I would daresay that without the Fed’s printing of money, bitcoin is headed towards twelve to thirteen thousand, and maybe as low as $9,000.

Soloway discussed his past market calls that turned out to be accurate and explained that when he started trading, there was no guidance. He believes that trading courses can be beneficial for traders.

Despite a gain of more than 40% so far in 2023 and an increase of over 38% in the past 30 days, Soloway pointed out that bitcoin (BTC) is still down more than 65% from its all-time high. Referring to BTC’s recent increase, Soloway said “it’s a nice bounce,” but he firmly believes that bitcoin is “still in an overall downtrend.”

What do you think of Gareth Soloway’s predictions for gold and cryptocurrencies in 2023? Do you agree or disagree with his outlook, and why? Share your thoughts in the comments section below.

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The meme coin economy has grown significantly over the past 27 days, increasing 34.52% against the U.S. dollar. The largest meme coin by market capitalization, dogecoin, has risen 29.5% in the past month, while the second-largest meme coin, shiba inu, has jumped 71.9% in 30 days. Since Jan. 9, 2023, the overall value of the meme token economy has increased by $5.8 billion.

Dogecoin and Shiba Inu Dominate Meme Coin Market With 94% Market Share

The top meme coins by market capitalization have gained in value against the U.S. dollar this past month. According to statistics recorded on Jan. 9, 2023, via archive.org, the meme coin economy was valued at $16.8 billion 27 days ago. As of 9 a.m. ET on Feb. 5, 2023, the meme coin economy is currently valued at $22.6 billion, a 5.4% increase over the previous day.

Over the past 27 days, meme tokens have added $5.8 billion in value and gained more than 34% against the greenback. This week’s largest gainers among meme tokens include pomeranian eth (POM), up 117.2%, baby doge coin (BABYDOGE), up 113.9%, and polydoge (POLYDOGE), up 86.7%. The two leading meme coins in terms of market valuation, dogecoin (DOGE) and shiba inu (SHIB), have increased 5.3% to 22.1%, with SHIB seeing the larger gains.

Dogecoin (DOGE) and shiba inu (SHIB) make up $21.32 billion, or 94.34%, of the total $22.6 billion in the meme coin economy. Dogecoin has risen 29.4% this month, while shiba inu has increased 71.9% against the greenback. The majority of the meme coin economy’s value was acquired in 2023. On Dec. 18, 2022, 49 days ago, the market valuation of all meme tokens was $16.4 billion. Since then, the meme coin economy has grown 36.96% against the U.S. dollar.

On Feb. 5, 2023, the largest gainers among meme coins over the past 24 hours include arbinu (ARBINU), which rose 51.9%, duckereum (DUCKER), up 43.5%, and onigiri neko (ONIGI), which increased 35.3%. The largest meme coin, dogecoin, decreased 1.7% against the U.S. dollar, while shiba inu gained 1.5%.

The third-largest meme coin, baby doge coin, increased 18.9% during the last 24 hours. Despite a 34% rise against the U.S. dollar and $5.8 billion in value added in 27 days, most of the market activity remains focused on the top two coins, DOGE and SHIB, indicating that demand for meme coin assets continues to exist.

What do you think about the current state of the meme coin economy? Will the trend of growth continue, or do you see a decline in the near future? Let us know what you think about this subject in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: Dennis Diatel / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Non-fungible token (NFT) sales increased 41.96% from the previous month, according to data recorded on Feb. 1, 2023. NFT sales reached nearly $1 billion in 30 days, with an approximate total of $997.53 million. Additionally, the number of digital collectible transactions rose more than 22% in the past month.

Bored Ape Yacht Club Dominates, Ethereum Leads With 78% of Total NFT Sales in January 2023

NFT sales mirrored those of crypto assets in January 2023, reaching $997.53 million, a 41.96% increase from December 2022. Data from cryptoslam.io shows that out of 20 blockchain networks, Ethereum led NFT sales with $784.87 million, or 78.681% of the total for the month.

Solana followed with $150.4 million in NFT sales over the last 30 days, accounting for 15.07% of the total. The other top five blockchain networks in terms of NFT sales are Cardano, Immutable X, and Polygon, respectively.

In terms of top-selling NFT collections in January 2023, Bored Ape Yacht Club (BAYC) NFTs generated $71.24 million in sales. BAYC sales increased 45% from December. Mutant Ape Yacht Club (MAYC) sales rose 47.91% last month, generating $58.85 million in NFT sales.

Bored Ape Kennel Club (BAKC) NFT sales jumped 309% from the previous month, totaling $42.33 million in sales. The remaining top NFT collections in order are Azuki, Otherdeed, Art Blocks, Sorare, Degods, Captainz, and Hausphases.

The top five NFT collections generated $242.56 million in sales in January, accounting for 24.31% of total sales. The top ten NFT projects combined for $336.26 million in sales, equating to 33.70% of the $997.53 million in total sales for the month.

The most expensive NFT sold over the past month was BAYC #5,840, which sold for $796,444 four days ago. BAYC #4,025 sold 17 days ago for $613,501, and BAYC #8,483 sold for $581,845 three days ago. The fourth and fifth most expensive NFTs sold were Cryptopunk #9,092, sold for $496,903, and BAYC #8,483, sold for $490,333.

In 30-day terms of sales volume, Opensea led the pack with 40% of last month’s sales executed on the NFT marketplace. The NFT market Blur captured 32% of the 30-day sales, and X2Y2 recorded 8% of the month’s sales. Magic Eden NFT sales were around 7% of the month’s settled transactions, and Looksrare accounted for 2% of the NFT sales in the last 30 days, according to dappradar.com statistics.

What do you think about the rise in NFT sales last month? How do you see the future of NFTs and blockchain technology evolving in the coming months? Let us know what you think about this story in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.