Bitcoin ETF

Bitcoin

Zero

<div class="finbold">
 <p class="paragraph">Following the recent rally that has pushed Bitcoin (BTC) back above the psychologically important level at $70,000 and near the resistance that could catapult it further up, economist and Bitcoin skeptic Peter Schiff has retained his skepticism around the maiden cryptocurrency.</p>
 <p class="paragraph">As it happens, Schiff said that the goal of Bitcoin’s recent “overnight” pump fthat has followed gold’s rally to new all-time highs (ATHs) was to “<a rel="noopener noreferrer nofollow" title="sucker" href="https://thebittimes.com/tag/sucker.html">sucker</a> [exchange-traded fund (ETF)] <a rel="noopener noreferrer nofollow" title="investors" href="https://thebittimes.com/tag/investors.html">investors</a> into buying the gap up,” telling his followers to “get ready for the dump,” in his X post on April 8.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">It looks like #Bitcoin got pump up overnight following the #gold rally to new record highs, to <a rel="noopener noreferrer nofollow" title="sucker" href="https://thebittimes.com/tag/sucker.html">sucker</a> ETF <a rel="noopener noreferrer nofollow" title="investors" href="https://thebittimes.com/tag/investors.html">investors</a> into buying the gap up. Get ready for the dump.</p>— Peter Schiff (@PeterSchiff) April 8, 2024
   </blockquote>
  </div>
 </figure>
 <p class="paragraph">Commenting on the American economist’s post, crypto journalist Willy Woo made a counter-argument, stating that it wasn’t a pump, but in fact, that the flagship decentralized finance (DeFi) asset was finalizing its consolidation process under the ATH.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bybit offers zero-fee deposits and trading with EUR Zero Fees Fiesta <span class="self-center text-xs text-slate-500">24 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    You’d never guess which precious metal this bank is most bullish on <span class="self-center text-xs text-slate-500">44 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    US Treasury urges congressional action against crypto-linked illicit finance <span class="self-center text-xs text-slate-500">49 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    This is the 'Wolf of Wall Street's' largest stock holding <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <h2 class="wp-block-heading" id="h-bitcoin-etf-godsend-for-central-banks">Bitcoin ETF godsend for central banks?</h2>
 <p class="paragraph">More recently, Schiff also expressed his view that “Bitcoin ETFs have been a godsend for foreign central banks,” allowing them to “buy more gold cheaper” to “replace dollars and build real monetary reserves to back their currencies,” as Bitcoin ETFs “have siphoned investor demand away from gold.”</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">#Bitcoin ETFs have been a godsend for foreign central banks. They need to buy a lot more #gold to replace dollars and build real monetary reserves to back their currencies. #BitcoinETFs have siphoned <a rel="noopener noreferrer nofollow" title="investor" href="https://thebittimes.com/tag/investor.html">investor</a> demand away from gold, allowing central banks to buy more gold cheaper.</p>— Peter Schiff (@PeterSchiff) April 9, 2024
   </blockquote>
  </div>
 </figure>
 <p class="paragraph">As a reminder, the economist has maintained that Bitcoin was likely to crash while dismissing products such as the Bitcoin spot ETFs as one of the factors that would contribute to its collapse due to more BTC entering spot BTC ETFs approved by the US Securities and Exchange Commission (SEC) this year.</p>
 <p class="paragraph">More recently, he bashed the largest crypto, referring to it as a “fake asset,” stressing that the popular opinion of its risk being “in the eye of the HODLer” was “crazy,” and praising silver as “the new Bitcoin” and “Bitcoin 2.0,” as Finbold reported on April 3.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-price-prediction">Bitcoin price prediction</h2>
 <p class="paragraph">For now, Bitcoin is changing hands at $70,400, recording a decrease of 3.30% in the last 24 hours but gaining 7.18% across the previous seven days, advancing 0.43% over the month, as well as growing 69.52% since the year’s start, as per the information retrieved on April 9.</p>
 <figure class="wp-block-image"><img decoding="async" width="750" height="496" src="https://cdn.thebittimes.com/images/2024/04/09/ab2edd5af5b4822863fb464c85f0875c.webp" alt="Bitcoin price 7-day chart" class="wp-image-167608" srcset="https://cdn.thebittimes.com/images/2024/04/09/ab2edd5af5b4822863fb464c85f0875c.webp 750w, https://cdn.thebittimes.com/images/2024/04/09/ab2edd5af5b4822863fb464c85f0875c.webp 300w" sizes="(max-width: 750px) 100vw, 750px">
  <figcaption class="wp-element-caption"><em>Bitcoin price 7-day chart. Source: </em><em>Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">Furthermore, several crypto trading experts have offered their BTC price prediction between $100,000 this year and a bewildering $1,000,000 in 2025. However, doing one’s own research and weighing all the risks is critical before investing any significant amount of money.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/economist-says-bitcoin-pump-is-to-sucker-etf-investors-to-buy-before-dump-tbt84943.html">https://thebittimes.com/economist-says-bitcoin-pump-is-to-sucker-etf-investors-to-buy-before-dump-tbt84943.html</a></p>

Economist says Bitcoin pump is to ‘sucker ETF investors’ to buy before dump

قائمة المحتويات

TheBitTimes

المزيد من المقالات نُشرت في ٩ أبريل ٢٠٢٤

Bitcoin (BTC) on Track for All-Time High If It Holds Above This Level

Bitcoin Long-Term Holders Slow Down on Profits: Glassnode Insights

SEC Insider Provides Information on the Fate of Ethereum Spot ETFs

Raffle Coin’s Presale Sparks Global Bull-Run As Bitcoin & Solana Power Players Bet on 30X Growth

BlockDAG’s Whitepaper Release & Successful Presale Disrupts Fantom & STRUMP’s Market Trends with ...

NEAR Protocol Price Analysis: What’s The Next Target Of NEAR Crypto

انضم إلى مجلتنا الإخبارية المجانية لآخر تحديثات مجال العملات المشفرة يوميًا.