2024

Bitcoin

<p>The post <a href="https://coinpedia.org/news/peter-schiff-warns-investors-to-sell-bitcoin-amidst-price-surge-62k/" rel="noopener noreferrer nofollow">Peter Schiff Warns Investors to Sell Bitcoin Amidst Price Surge $62K</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Bitcoin has recently <a href="https://markets.coinpedia.org/bitcoin/" rel="noopener noreferrer nofollow">surged to $62,384</a> along with other financial assets that had previously been declining. This price surge comes amid rumors of a major pro-crypto announcement linked to the Trump family. However, renowned economist Peter Schiff is advising Bitcoin investors to consider selling.</p>
<h2 class="wp-block-heading" id="h-peter-schiff-s-warning">Peter Schiff’s Warning</h2>
<p>In a recent tweet Peter Schiff, a well-known economist and Bitcoin critic, has warned investors about bitcoin. He suggests that while Bitcoin’s recent gain is impressive, it might be wise to “sell Bitcoin into the rally.”&nbsp;</p>
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   <p lang="en" dir="ltr">Financial assets that declined recently all rose today, with <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> joining the rally with an even bigger move up. Bitcoin may have received an added boost from a vague commitment by the <a href="https://twitter.com/hashtag/Trump?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Trump</a> sons that a major pro-<a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> announcement is imminent. Sell Bitcoin into the rally.</p>— Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1821697530117124135?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 8, 2024</a>
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<p>Schiff speculated that <a href="https://coinpedia.org/news/secret-30-billion-qe-boost-will-bitcoin-skyrocket-as-hidden-liquidity-floods-markets/" rel="noopener noreferrer nofollow">Bitcoin’s recent rise</a> might be influenced by a vague commitment from Donald Trump’s sons regarding an imminent pro-crypto announcement. While details remain unclear, this speculation appears to have contributed to Bitcoin’s notable price increase.</p>
<p>Therefore, Schiff believes that the current price boost could be temporary, and investors might want to take advantage of it before potential future drops.</p>
<h2 class="wp-block-heading" id="h-community-reaction">Community Reaction</h2>
<p>Meanwhile, Peter’s analysis did not sit well with Bitcoin supporters. Mike Alfred, an entrepreneur, commented, “Bitcoin is not crypto, Peter. Come on, you’re regressing again.”&nbsp;</p>
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   <p lang="en" dir="ltr">Bitcoin is not crypto, Peter. Come on, you’re regressing again.</p>— Mike Alfred (@mikealfred) <a href="https://twitter.com/mikealfred/status/1821740615920665056?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 9, 2024</a>
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<p>Similarly, another X user <a href="https://x.com/0xBklyn/status/1821707483771199940" rel="noopener noreferrer nofollow">Brooklyn responded</a> to Peter, saying, “BTC did not rise because of the Trump sons. Come on, Peter, at least make serious arguments.” Investors are eagerly awaiting any official updates that could impact Bitcoin’s future performance.</p>
<h2 class="wp-block-heading" id="h-bitcoin-s-price-surge">Bitcoin’s Price Surge</h2>
<p>Yesterday, Bitcoin briefly peaked at $62,380 before retreating to $60,968, marking a 7% surge over the past 24 hours. This sharp rebound follows Bitcoin’s recent dip below a crucial support level, <a href="https://coinpedia.org/news/peter-schiff-slams-bitcoin-price-crash-proves-it-cant-be-a-reserve-asset/" rel="noopener noreferrer nofollow">falling to $49,751</a> on August 5. It was the first time Bitcoin had dropped below $50,000 since February.</p>

Peter Schiff Warns Investors to Sell Bitcoin Amidst Price Surge $62K

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