Schiff Dismisses Bitcoin’s $72k Surge as Treasury-Fueled Fakeout
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Bitcoin.com
BITRSSSchiff Dismisses Bitcoin’s $72k Surge as Treasury-Fueled Fakeout
Peter Schiff, a known bitcoin critic, argued that the bitcoin rally was fake, a result of investors rushing to position liquidity as the Treasury buybacks announcement caught markets by surprise. Paradoxically, he recommended investing in gold for the same reasons. Economist Peter Schiff Labels Bitcoin’s Surge over $72K as a Fakeout As bitcoin has once […]
The crypto market has just reminded the extent to which cashier bets can become explosive. In just 48 hours, a massive wave of short-position liquidations has hit derivatives, while the bitcoin has come close to a major psychological threshold. Behind this acceleration is emerging a decisive macroeconomic factor: the surprise influx of liquidity in the United States. Between short squeeze, US budget intervention and repositioning of on-chain inv…
Breakout or fakeout: BTC bulls and bears face off as price settles above $70K
Peter Schiff, a longtime Bitcoin critic, said on Thursday that BTC’s rise to above $72,000 is a false breakout built on a one-off Treasury move. Bullish analysts, on the other hand, regard the same week’s data as the start of a fresh cycle for Bitcoin. Will Bitcoin continue rising? Bitcoin traded around $71,447 on Thursday, up about 9% over 24 hours. The price reached a high of around $72,397 during the day, according to CoinMarketCap, its highe…
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