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<ul> 
 <li>Peter Schiff attributes the recent rise in Bitcoin’s price to the launch of a new cryptocurrency exchange called EDX Markets, which was established by leading financial firms Fidelity, Citadel, and Charles Schwab.</li> 
 <li>Schiff expresses a pessimistic view of the new exchange, referring to it as another way to gamble and suggesting that there will not be long-term demand for it.</li> 
 <li>Despite ongoing legal battles faced by major exchanges like Binance and Coinbase, the community continues to view the establishment of a joint cryptocurrency exchange by large institutions as a positive development.</li> 
</ul> 
<h2 id="peter-schiff-attributes-bitcoin-s-rise-to-new-cryptocurrency-exchange">Peter Schiff Attributes Bitcoin’s Rise to New Cryptocurrency Exchange</h2> 
<p>Famous economist Peter Schiff has provided an explanation for the recent surge in Bitcoin’s price, which quickly surpassed $28,000. In a recent social media post, Schiff mentioned that this rise can be attributed to the launch of a new cryptocurrency exchange called EDX Markets, established jointly by prominent financial firms Fidelity, Citadel, and Charles Schwab.</p> 
<h3 id="a-pessimistic-view-of-the-new-exchange">A Pessimistic View of the New Exchange</h3> 
<p>Schiff, known for his pessimistic outlook, described the new cryptocurrency exchange as another avenue for gambling. He implied that there will not be long-term demand for this exchange and stated the following in his explanation:</p> 
<blockquote>
 <p>“Bitcoin reached over $28,000 on news that Wall Street firms have launched an exchange that will allow speculators to trade cryptocurrencies. I doubt there will be much long-term demand for this exchange. Having more ways to gamble with Bitcoin doesn’t make it more valuable.”</p>
</blockquote> 
<h3 id="positive-reception-despite-legal-challenges">Positive Reception Despite Legal Challenges</h3> 
<p>EDX Markets will initially offer services exclusively for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). The establishment of a joint cryptocurrency exchange by large institutions continues to be viewed positively by the community, despite ongoing legal battles faced by major exchanges like Binance and Coinbase.</p>  
<p>The post <a rel="nofollow" href="https://en.coinotag.com/economist-peter-schiff-reveals-the-surprising-reason-behind-bitcoins-soaring-success/">Economist Peter Schiff Reveals the Surprising Reason Behind Bitcoin’s Soaring Success!</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG EN</a>.</p>

Economist Peter Schiff Reveals the Surprising Reason Behind Bitcoin’s Soaring Success!

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