2024

Bitcoin

April

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 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
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Popular financial expert and banker&nbsp;<a href="https://x.com/PeterSchiff/status/1780212878236135639" rel="noopener noreferrer nofollow">Peter Schiff</a> has taken aim at crypto mogul Mike Novogratz's recent bullish forecast for Bitcoin, questioning the validity of Novogratz's assertions. Schiff, known for his skepticism toward the leading cryptocurrency, has challenged Novogratz's prediction that the influx of buyers through Bitcoin ETFs will drive the digital asset's value to new heights.
In response to Novogratz's statement that&nbsp;<a href="https://u.today/blackrocks-bitcoin-etf-aiming-for-record-breaking-inflow-streak" rel="noopener noreferrer nofollow">Bitcoin ETF</a> buyers, many of whom are newcomers to the crypto space, will act as long-term holders, Schiff dismissed this notion, characterizing them instead as mere opportunistic traders.&nbsp;
He suggested that these newcomers, whom he labeled as "Johnny-come-lately" buyers, lack the conviction of true believers in&nbsp;<a href="https://u.today/important-bitcoin-btc-halving-tweet-ejected-by-michael-saylor" rel="noopener noreferrer nofollow">Bitcoin</a> and are merely testing the waters. Schiff implied that these investors are likely to flee at the first sign of unfavorable market conditions.
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 Bitcoin pumper <a href="https://twitter.com/novogratz?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@novogratz</a> believes <a href="https://twitter.com/hashtag/BitcoinETF?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BitcoinETF</a> buyers, who have never owned <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> before, are long-term <a href="https://twitter.com/hashtag/HODLers?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#HODLers</a>. These Johnny-come-lately buyers are not true believers, but traders testing the waters. If the temperature is not to their liking they will be the first to sell.— Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1780212878236135639?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 16, 2024</a>
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Schiff's skepticism extends beyond Novogratz's prediction to broader implications for Bitcoin-related equities. He pointed to a downturn in various Bitcoin-related stocks, including Coinbase's COIN, GLXY, MSTR, WGMI, MARA, BITF and HIVE, questioning why these assets are struggling despite the purported bullish sentiment surrounding Bitcoin ETFs.
The critique from&nbsp;<a href="https://u.today/peter-schiff-questions-100000-bitcoin-price-predictions" rel="noopener noreferrer nofollow">Peter Schiff</a> adds fuel to the ongoing debate over the future trajectory of Bitcoin and the potential impact of institutional investment vehicles like ETFs. While&nbsp;<a href="https://u.today/novogratz-predicts-bitcoin-btc-will-resume-uptrend-after-enormous-crash" rel="noopener noreferrer nofollow">Novogratz</a> remains optimistic about Bitcoin's prospects, Schiff's critical viewpoint once again highlights the divergent opinions within financial circles regarding the crypto's long-term prospects and investment appeal.

Peter Schiff Blasts Mike Novogratz's Bitcoin Bull Run Prediction

U_Today

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