Peter Schiff's casual remark turns into unintended BTC forecast
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Schiff had shared his excitement on X/Twitter as gold continued its parabolic run beyond its record highs, rising another $25 to break past $2,250.directed at Bitcoin holders, Schiff stated that while gold's"meagre" $25 rise might seem insignificant, its recent 3% two-day gain equates to about $450 billion of total market capitalization.. But following Friday's $39 rise, this 3% two-day gain equates to about $450 billion of total market capitalization.
Aiming to take a swipe at Bitcoin, Schiff said,"To match that dollar gain, Bitcoin would have to rise by about $23,000 to $94,000."was quick to seize upon Schiff's remark, taking it as a prediction for the BTC price in the days to come. Chad Steingraber, a crypto enthusiast, reacted,"And BTC will hit 100,000 soon."
While Schiff's comment may have been made in jest, the figure is not entirely without merit. Bitcoin has seen a meteoric rise of late, shattering expectations and reaching valuations that once seemed impossible.rose to all-time highs of $73,750 on March 14; the success of spot Bitcoin exchange-traded funds launched in the U.S. on Jan. 11 was a key driver of this bullish momentum.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst.
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