2024

Bitcoin

<a href="https://bitcoinworld.co.in/peter-schiff-warns-investors-to-sell-bitcoin-amidst-price-surge-62k/" title="Peter Schiff Warns Investors To Sell Bitcoin Amidst Price Surge $62K" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">Peter Schiff warns investors to “sell Bitcoin into the rally” despite its recent surge.</li>
 <li style="font-weight: 400">Bitcoin recently surged to $62,384 amid speculation about a Trump family crypto announcement.</li>
 <li style="font-weight: 400">Bitcoin supporters criticize Schiff’s view, arguing Bitcoin’s rise isn’t linked to the Trump family.</li>
</ul>
Bitcoin has recently surged to $62,384 along with other financial assets that had previously been declining.&nbsp;
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.
<h3 id="span-style-font-weight-400-peter-schiff-s-warning-span">Peter Schiff’s Warning</h3>
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;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 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.
 — Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1821697530117124135?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 8, 2024</a>
</blockquote>
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Schiff speculated that Bitcoin’s recent rise might be influenced by a vague commitment from Donald Trump’s sons regarding an imminent pro-crypto announcement.&nbsp;
While details remain unclear, this speculation appears to have contributed to Bitcoin’s notable price increase.
Therefore, Schiff believes that the current price boost could be temporary, and investors might want to take advantage of it before potential future drops.
<h3 id="span-style-font-weight-400-community-reaction-span">Community Reaction</h3>
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;
https://twitter.com/PeterSchiff/status/1821697530117124135
Similarly, another X user Brooklyn <a href="https://x.com/0xBklyn/status/1821707483771199940" rel="noopener noreferrer nofollow">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.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 BTC did not rise because of the Trump sons. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f605.png" alt="😅" class="wp-smiley" style="height: 1em; max-height: 1em;"> Come on Peter, at least make serious arguments.
 — Brooklyn (@0xBklyn) <a href="https://twitter.com/0xBklyn/status/1821707483771199940?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 9, 2024</a>
</blockquote>
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<h3 id="span-style-font-weight-400-bitcoin-s-price-surge-span">Bitcoin’s Price Surge</h3>
Yesterday, Bitcoin briefly peaked at $62,380 before retreating to $60,968, marking a 7% surge over the past 24 hours.&nbsp;
This sharp rebound follows Bitcoin’s recent dip below a crucial support level, falling to $49,751 on August 5. It was the first time Bitcoin had dropped below $50,000 since February.

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

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