Jerome Powell’s reappointment as the Federal Reserve chair by President Biden actually creates a scenario for Powell to be more hawkish in order to get inflation under control, says Gareth Soloway, President of InTheMoneyStocks.com. Soloway urges investors to be cautious in the near-term, saying that Bitcoin could be facing a liquidity issue that could be drying up and may force the asset down. He says that cryptocurrency investors should want regulation implemented within the asset class, in order for the bigger players to feel more comfortable, which will help stabilize Bitcoin. Soloway believes that gold will beat U.S. stock markets and Bitcoin in 2022, forecasting a $3,000 price target for the precious metal and noting that, “it’s a pure play for inflation.”
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