Bitcoin is actually beneficial for the Fed, Schiff says
Schiff argues that the leading cryptocurrency by market capitalization is actually taking the spotlight away from gold. The recent appreciation of the yellow metal would otherwise"expose" the policy mistakes of the central bank. Bitcoin to Rocket 518%? Veteran Trader Peter Brandt Says Yes
Gold recently hit yet another record high of $2,630. The precious metal has been on a tear since the U.S. Federal Reserve opted for a bigger-than-expected 50-basis point rate cut. Bitcoin has also gained some ground following the rate cut, recently reclaiming the $64,000 level. That said, the cryptocurrency remains well below its record high that was originally reached in March.
Meanwhile, commodity trader Peter Brandt recently predicted that Bitcoin could start massively outperforming gold based on the inverse head-and-shoulders pattern that he had spotted. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Schiff Reveals Only Reason for $1 Million BitcoinBitcoin critic Schiff warns about $15,000 BTC and reveals how $1 million BTC is possible
Read more »
Peter Schiff Issues Warning About Bitcoin's Waning MomentumPeter Schiff has spotlighted Bitcoin's underwhelming performance
Read more »
Peter Schiff Gives Bitcoin Bull Michael Saylor Grim WarningWho will win — Bitcoin bull Michael Saylor or critic Peter Schiff? — as their heated debate over cryptocurrency's future intensifies
Read more »
Bitcoin "Poised" to Break Below $58K, Peter Schiff PredictsBitcoin keeps struggling while precious metals keep surging
Read more »
Peter Schiff Predicts Bitcoin To 'Go Up Forever,' Sparking DebatePeter Schiff, a vocal Bitcoin critic, recently tweeted a chart suggesting Bitcoin will rise indefinitely. While some supporters agreed with his prediction, others argued that his constant criticism of Bitcoin is driven by attention-seeking rather than sound market analysis.
Read more »
It’s “Very Late” to Buy Bitcoin, Schiff SaysIs it too late to buy Bitcoin? Peter Schiff thinks so
Read more »