Top traders: Bitcoin may fall to $73,000, and gold may first fall to $3,500 before rising to $5,000 next year.

PANews, November 20 - Gareth Soloway, a veteran Wall Street trader with 27 years of trading experience, warned on the program that the current market's valuation, driven by the AI concept, has severely overextended future expectations, and the market may face a 10%-15% pullback, which is just the beginning. He pointed out that AI-related stocks accounted for 75% of the S&P 500's rise over the past two years, but their valuations have already priced in the earnings of the next five years, presenting significant risks. He stated that Bitcoin has recently underperformed due to factors including reduced volatility, decreased institutional buying, and a trend of de-risking. He expects Bitcoin to potentially drop to the range of $73,000 to $75,000 in the short term, or even lower, but he plans to gradually buy in that range to accumulate a long-term position. Regarding the altcoin market, Gareth takes a cautious stance and predicts that Ethereum may further decline to the range of $2,800 to $2,700, which is an important support level. He emphasized that Bitcoin, as 'digital gold', is still expected to outperform the stock market in the long run, but the current market needs to be alert to the adjustment pressure of risk assets. Meanwhile, gold may pull back to $3,500-$3,600 before entering a new round of increases, rising to $5,000 by 2026. He emphasized that the Federal Reserve's monetary easing policy may exacerbate market bubbles, but it may also lead to a larger crash. Soloway advises investors to remain vigilant, manage risks, and prepare for potential market turbulence in the future. Related reading: Wall Street trader of 27 years: The AI bubble will burst! Bitcoin is no longer “sexy”, the market pullback is just an appetizer.