Bitcoin

Citadel

<p>After plummeting to $25,000, the Bitcoin price is skyrocketing. Many see this dynamic as a positive development. However, Peter Schiff disagrees. The investor criticizes the skyrocketing price of the flagship cryptocurrency. He believes the trend will only last for a short time.</p>  
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<h2 id="h-peter-schiff-doubts-the-sustainability-of-bitcoin-s-recent-surge">Peter Schiff doubts the sustainability of Bitcoin’s recent surge</h2> 
<p>On Sunday, June 11, the <a href="http://cointribune.com/le-bitcoin-btc-degringole-a-25-000-la-crypto-phare-en-plein-naufrage/#:~:text=Le%20Bitcoin%20(BTC)%20d%C3%A9gringole%20%C3%A0,%E2%96%AA%20par%20Luc%20Jose%20A.&amp;text=Le%20cours%20du%20bitcoin%20s,march%C3%A9%20de%20la%20crypto%20phare." target="_blank" rel="noreferrer noopener">price of Bitcoin (BTC) plummeted to $25,000</a>. Less than two weeks later, it is once again on an upward trend, currently valued at $28,764 at the time of writing.</p>
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<p>As usual, crypto critic <a href="http://u.today/bitcoin-critic-peter-schiff-explains-why-btc-just-rallied-to-28000" target="_blank" rel="noreferrer noopener">Peter Schiff has commented on this latest price surge</a>. This latest surge is not insignificant, as the investor attributes it to a combination of circumstances linked to the financial market.</p> 
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     <p lang="en" dir="ltr">NEWS : Bitcoin Critic Peter Schiff Explains Why BTC Just Rallied to $28,000: Peter Schiff, a well-known critic of Bitcoin, has voiced his doubts on the recent Bitcoin rally that catapulted the cryptocurrency's value to $28,000… <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Nft?src=hash&amp;ref_src=twsrc%5Etfw">#Nft</a> <a href="https://t.co/xjoj0AeURu">https://t.co/xjoj0AeURu</a> <a href="https://t.co/Gs82bXDajT">pic.twitter.com/Gs82bXDajT</a></p>— SYSOP.ai (@sysopai) <a href="https://twitter.com/sysopai/status/1671260976094797824?ref_src=twsrc%5Etfw">June 20, 2023</a>
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<p>Indeed, Peter Schiff explains the BTC price rally by the launch of the EDX exchange. The platform trades in BTC and ETH, among others. EDX is said to be backed by Wall Street behemoths such as Charles Schwab, Fidelity Digital Assets and Citadel Securities.</p> 
<p>The sudden surge in the price of Bitcoin is due to these institutions promoting EDX as meeting the requirements of conservative and risk-averse investors who are reluctant to venture into such a volatile market.</p> 
<p>Peter Schiff’s opinion suggests that a number of institutional investors are showing interest in the Bitcoin market. However, the critic does not believe that this trend will be sustained in the long run.</p> 
<p>He believes it will fade after a while. Among other reasons, this flagship crypto is fundamentally worthless, making it highly dependent on speculative market dynamics.</p> 
<p>It cannot be denied that the <a href="http://cointribune.com/le-marche-des-cryptos-a-t-il-atteint-sa-maturite/" target="_blank" rel="noreferrer noopener">crypto market</a> is highly speculative and volatile. However, one can also see the change in perspective of institutional investors towards cryptocurrencies as favorable for their adoption.</p>

Bitcoin (BTC): Peter Schiff skeptical of recent rally

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