Ethereum

Donald Trump

Bitcoin

Reserve

The post <a href="https://coinpedia.org/news/peter-schiff-warns-of-crypto-market-crash-feds-action-under-scrutiny/">Peter Schiff Warns of Crypto Market Crash: FED’s Action Under Scrutiny</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Popular market analyst <a href="https://app.coinpedia.org/peterschiff" target="_blank" class="profile-details">Peter Schiff</a> <img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10122626/info_icon.svg" alt="information" class="info-icons"> <a href="https://app.coinpedia.org/peterschiff" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190601/link.svg" alt="link"></a> <img decoding="async" src="https://image.coinpedia.org/app_uploads/profile/default.png" class="user_profile_img" alt="user_profile_img" title="user_profile_img"> Peter Schiff Peter David Schiff is an American stockbroker, financial commentator, and radio personality. He co-founded Echelon Wealth Partners in Canada Crypto and Blockchain Expert has expressed concerns about gold, silver, bitcoin, and the U.S. economy, especially if <a href="https://app.coinpedia.org/donaldtrump" target="_blank" class="profile-details">Donald Trump</a> <img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10122626/info_icon.svg" alt="information" class="info-icons"> <a href="https://app.coinpedia.org/donaldtrump" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190601/link.svg" alt="link"></a> <img decoding="async" src="https://image.coinpedia.org/app_uploads/profile/default.png" class="user_profile_img" alt="user_profile_img" title="user_profile_img"> Donald Trump Donald John Trump, an American politician, media personality, and businessman, served as the 45th President of the United States from 2017 to 2021. Note: His Designation Is Former President President is re-elected. Schiff predicts market crashes for gold, silver, and bitcoin and a harsh landing for the recently announced Ethereum (<a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) ETFs due to a weaker dollar and rising oil costs.&nbsp; 
<h2 class="wp-block-heading" id="h-bigger-market-crash-incoming">Bigger Market Crash Incoming?</h2> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 In case you haven't noticed, despite yesterday's launch of 8 <a href="https://twitter.com/hashtag/EthereumETFs?src=hash&amp;ref_src=twsrc%5Etfw">#EthereumETFs</a> , <a href="https://twitter.com/hashtag/Ether?src=hash&amp;ref_src=twsrc%5Etfw">#Ether</a> is already down over 7% in the past 24 hours. <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is down too, falling 2% over the same time period. The stage is set for a <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> crash, just in time for the Nashville Bitcoin conference.— Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1816294121818001668?ref_src=twsrc%5Etfw">July 25, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
In a series of tweets, Schiff <a href="https://x.com/PeterSchiff/status/1816294121818001668" target="_blank" rel="noreferrer noopener nofollow">pointed </a>out the immediate negative impacts on cryptocurrencies following the launch of eight Ethereum ETFs. He noted a significant drop in Ether, which plummeted over 7% in the past 24 hours, while Bitcoin fell by 2% during the same timeframe. Schiff interprets this as the start of a potential crypto crash, clashing with the upcoming Nashville Bitcoin conference. 
He also warns that <a href="https://markets.coinpedia.org/ethereum-etf/" target="_blank" rel="noreferrer noopener">Ethereum ETFs</a> will negatively impact Bitcoin, as investors may shift their funds. Bloomberg’s senior ETF analyst, Eric Balchunas, reported the quick rise in interest for Ether ETFs, with $461 million traded in the first 90 minutes, which supports Schiff’s concerns and indicates a potential shift away from <a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>. 
<h2 class="wp-block-heading" id="h-hard-landing-for-gold-silver-and-financial-market">Hard Landing for Gold, Silver, and Financial Market</h2> 
Moving on, Schiff’s <a href="https://x.com/PeterSchiff/status/1816309470386864318" target="_blank" rel="noreferrer noopener nofollow">concerns </a>went beyond cryptocurrencies to the broader financial market. He notes that gold and silver also face sell-offs, signaling a tough market ahead. This trend affects the newly launched ETH ETFs and hints at wider market trouble. Stocks are declining, safe-haven currencies like the yen and Swiss franc are gaining, and commodity currencies like the Australian dollar are dropping. 
<h3 class="wp-block-heading" id="h-clash-of-opinions">Clash of Opinions</h3> 
Schiff has been critical of Bitcoin, predicting that its bear market isn’t finished and that Ethereum could fall to $1,500. He also stated in April that the interest in Bitcoin is fading.&nbsp; 
On the other hand, Kiyosaki <a href="https://x.com/theRealKiyosaki/status/1815607168940617813" target="_blank" rel="noreferrer noopener nofollow">believes </a>that gold, silver, and bitcoin prices will rise, predicting gold will hit $3,300 an ounce and bitcoin could reach $105,000 by 2025. He thinks Trump’s support for a weaker dollar and expanded oil drilling will boost these assets. 
<h3 class="wp-block-heading" id="h-federal-reserve-s-role">Federal Reserve’s Role</h3> 
Schiff raises the question of whether the Federal Reserve will allow this downturn to continue or intervene to prevent a full-blown stock market crash, financial crisis, and recession before the election. He emphasizes that the Fed’s actions will determine the market’s direction. If the Fed does not cut rates soon and return to quantitative easing (QE), Schiff warns, a recession could begin with a stock market crash.&nbsp; 
<h2 class="wp-block-heading" id="h-what-next">What Next?</h2> 
Ethereum ETFs have quickly influenced the market, with experts suggesting they’ll boost ETH prices but no more than <a href="https://markets.coinpedia.org/bitcoin-etf/" target="_blank" rel="noreferrer noopener">Bitcoin ETFs</a>. Investors might use a 70/30 BTC to ETH split for diversification. However, Despite Ethereum’s rise, Bitcoin’s future is uncertain, with rumors of Trump endorsing Bitcoin adding interest.&nbsp; 
Bitcoin is down 2% to $66K, and Ethereum has dipped 1.4% to $3,412, indicating cautious market sentiment. 
Also Read: <a href="https://coinpedia.org/news/key-reasons-why-crypto-market-slipped-today/" target="_blank" rel="noreferrer noopener">Why is the Crypto Market Down Today?</a>

Peter Schiff Warns of Crypto Market Crash: FED’s Action Under Scrutiny

Inhoudsopgave

CoinPedia News

Andere artikelen gepubliceerd op 25 jul 2024

Ethereum and Layer-2 Networks See Rapid Growth in 2024

Grayscale's Major Ethereum Moves: Strategic Shift or Market Reaction?

Stocks to Watch Today: ServiceNow, WBD, and Ford Motor Company

Solana’s Bullish Pennant: Here’s Why $153 to $160 Support is Critical

Bitcoin Breakthrough: First Zero-Knowledge Proof Verified on Mainnet

Crypto bank Sygnum reports profitable H1 2024 as crypto trading volume doubles

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!