Bitcoin (BTC) May Get Down to $22,300 Before Jumping Again, Here's Why It's Good: Prominent Analyst

Bitcoin's possible drop before storming $23,100 again might be good, popular analyst CryptoMichNL says. $BTC

On Monday, CNBC's MadMoney show host James Cramer that they should stay away from Bitcoin despite its massive gains this month and go for gold instead.

He stated that they should stop paying attention to"crypto cheerleaders," citing Carley Garner, senior commodity market strategist and broker at DeCarley Trading. Garner believes gold to be the only hedge against economic chaos and inflation. She ignored the fact of Bitcoin breaking above $23,000 on the market's expectations that the Federal Reserve will finally ease its speed on interest rate cuts or give up on them completely.

Garner also compared Bitcoin to shares of Facebook if entrepreneurs suddenly decided to make transactions in them – they are too volatile, she said, and so is BTC.

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