Peter Schiff Questions Markets Bitcoin Obsession as Gold Hits Record Highs

Despite soaring gold prices, Peter Schiff believes investors are distracted by Bitcoin, missing key warnings about inflation.

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Solana (SOL) Eyes Major Breakout After Holding $120 Support Level Details

Popular crypto analyst Peter Brandt has unveiled a bullish outlook for Solana predicting the prominent altcoin may be set for a significant price surge in future weeks. This price forecast comes in a glaring contrast to Brandts recent prediction where the analyst had expressed fears over Solana suffering a major price fall. Related Reading: Solana (SOL) Flies 12% To Reclaim $140, Is $160 Next? How High Can Solana Go? Earlier this week, NewsBTC reported Brandts prediction of SOL slipping to $80 if the altcoin failed to defend a support level around $120. Notably, SOL had presented a down price movement for the majority of the week trading as low as $128 on Thursday. Albeit, the fifth largest cryptocurrency has turned the corner in the last 48 hours, reaching a peak price of $151 on Friday. Peter Brandt noted this upward price action as Solana holding the $120 price level which the altcoin has consistently done over the last six months. However, Brandt postulates that SOL may now be gunning for a sizeable advance. While the expert analyst did not provide a specific price target, investors could anticipate a major upswing as Brandt expects price movement over the next 72 weeks. Attention all cryptomaniacs. Looks like $SOL $SOLUSD held support at $120 This could become a rectangle capable of launching a sizable advance pic.twitter.com/id0eTzzsVW Peter Brandt (@PeterLBrandt) September 20, 2024 This period of time is expected to include the crypto bull run for which SOL has been tipped to be an outstanding performing asset. In the last bull run, the altcoin emerged as the top market gainer rising by over 1500% to attain an all-time high of $260. Interestingly, aside from long-term gains, Solana investors could also expect an immediate price rise, especially as Q4 approaches.  With Bitcoin tipped to embark on a bullish trend starting in October, Solana, alongside other cryptocurrencies, would likely be influenced by the crypto market leader which may result in substantial gains for the altcoin.  Notably, SOL moved around $22 to $112 in Q4 2023, registering a 400% profit as Bitcoin climbed from around $27,000 to $44,000 within the same period. If the prominent altcoin repeats previous actions, it could rise to around $725 by December and $2,175 in the next year. Related Reading: This Solana Memecoin Climbs 36%, On The Verge Of Reaching $1 And Record Highs SOL Price Overview At the time of writing, Solana trades at $145.16 with a 2.20% gain on the past day. The tokens price reflects a steady performance over the last few weeks with gains of 4.62% and 3.03% over the past seven and thirty days respectively. Meanwhile, Solanas daily trading volume is up by 23.07% and is valued at $3.17 billion.  Featured image from Vecteezy, chart from Tradingview

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9 months after SBF conviction, Peter Singer defends effective altruism in debate

According to the prominent voice for effective altruism, Sam Bankman-Frieds version of the philosophy was only one among many.

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Analyst eyes Ether major push to $3.5K amid traders betting on upswing

A crypto analyst says Ether could make a major push to $3,500 if it holds a $2,800 weekly close, and futures traders are betting on an upward move.

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Peter Schiff Criticizes US Inflation, Blames Trump-Era Policies

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Peter Brandt Warns of Potential 40% Drop in Ethereum Prices

The cryptocurrency market has come under pressure due to the recent release of the U.S. CPI data. During…

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Peter Brandt Spots Potential Bitcoin Setup Amid Expanding Triangle

Peter Brandt, who has been in the business for quite a long time, has come up with a…

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Bitcoin Critic Calls Institutional Demand A Myth Following Recent Price Slump

Popular Bitcoin critic Peter Schiff dismisses claims of growing institutional interest in the maiden cryptocurrency. Schiffs challenging statement comes following the recent Bitcoin market sell-off which resulted in a 10% price decline on Friday. Related Reading: Market Expert Predicts When Bitcoin Price Will Reach Its Cycle Highs Peter Schiff Claims Little Institutional Demand For Bitcoin According to blockchain analytics platform Lookonchain, the German and US governments, and defunct crypto exchange Mt. Gox have moved a combined 17,788 Bitcoin valued at $1.08 billion to exchanges since June 19.  In particular, the German government has sold parts of its BTC holdings every day since the start of July transferring out a substantial 3,000 BTC, worth around $175 million, on Thursday. The constant sell-off by the German and US authorities coupled with Mt. Gox repayments to creditors which are expected to be sold, soon resulted in massive selling pressure on BTC, forcing the tokens price down from $60,097 on Thursday to as low as $53,971 on Friday. Commenting on this event, Schiff stated in an X post on Saturday, that Bitcoins price slump demonstrated that the institutional demand for the market leader was overestimated. While the Bitcoin critic acknowledged that market sell-off contributed to the assets decline, he also emphasized the absence of a high institutional demand, which if existed, should jump at the chance to buy the massive amount of Bitcoin that has been sold. Schiffs comments are likely targeted at popular sentiments that Bitcoins institutional demand has been on the rise following the introduction of the Spot Bitcoin ETFs in January.  Notably, the market leader embarked on an upward trend in the first quarter of 2024 rising to a new all-time high of $73,750, a development which coincided with the rapid growth of the Spot Bitcoin ETF market which hit a $10 billion trading volume in March. Related Reading: Bitcoin Woes Not Over? Analyst Predicts Further Crash To $47,000 Bitcoin Poised For Market Rebound, Analyst Says In other news, popular crypto analyst Rekt Capital has postulated that Bitcoin may be preparing for a market recovery following the recent price dip. In an X post on Saturday, Rekt Capital noted that Bitcoin closed its daily trading above $56,750 allowing the token to continue to remain within the range low area of $60,600. According to the analyst, if BTC continues to cluster around the price region, it could soon launch a price rebound reaching as high as $71,000. At the time of writing, the premier cryptocurrency continues to trade at $58,189 with a 2.45% increase in the last day. However, BTCs daily trading volume remains down by 63.35% and is valued at $20.61 billion. Featured image from Market Insider, chart from Tradingview

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One Trading receives Dutch license, onshores EU crypto futures

The Bitpanda spinoff offers Tradfi the advantages of blockchain and could soon provide investors with a host of new advantages.

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Real Bedford FC boosts Bitcoin stash with $4.5M acquisition

Real Bedford FC expands its Bitcoin holdings with a strategic purchase of 66.9 BTC at an average price of approximately $67,220 per coin, reinforcing its commitment to crypto.

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Crypto community reacts to Windows-CrowdStrike outage as blockchains unaffected

Many crypto community members noted that blockchains decentralized nature allowed them to continue running despite widespread outages across the global economy.

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Veteran Trader Brandt Sees Bitcoin Claiming $92,579 Amid Recent Bear Trap

Renowned veteran Trader Peter Brandt sets a $92,579 price target for Bitcoin (BTC) amid the ongoing recovery push, calling attention…

The post Veteran Trader Brandt Sees Bitcoin Claiming $92,579 Amid Recent Bear Trap first appeared on The Crypto Basic.

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Bitcoin transaction value hits yearly high with $25B moved

Bitcoin holders moved over 367,000 BTC on May 18, worth over $25 billion, recording a yearly high in the value of Bitcoin transactions.

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Bitcoin price wont dramatically increase from here, says billionaire

Peter Thiel also believes that Bitcoins original vision as a cypherpunk, crypto-anarchist freedom tool hasnt been fulfilled.

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Peter Brandt Identifies Ethereum Head and Shoulders Top, Prices at Risk of Further Dips

Market Veteran Peter Brandt calls attention to a head and shoulders pattern on the Ethereum chart, indicating higher chances of…

The post Peter Brandt Identifies Ethereum Head and Shoulders Top, Prices at Risk of Further Dips first appeared on The Crypto Basic.

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YEY.Tech to Boost Kusho Worlds Web3 Push

Kusho World stressed that the partnership aims to establish the NFT collection as a flagship example within the web3 ecosystem by leveraging YEYs community and fandom features.

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Four "Heavyweights" in Finance Debate: Bitcoin VS Gold - Which One Will The Future Favor?

In what was billed as the "biggest bitcoin vs gold debate in history," and moderated by Ran of Crypto Banter, the event featured four financial heavyweights squaring off to argue the merits and flaws of bitcoin and gold as potential future stores of value and mediums of exchange. 

In one corner were the bitcoin backers - Eric Voorhees, an early bitcoin adopter and founder of ShapeShift, and Anthony Scaramucci, founder of SkyBridge Capital and former White House spokesman. They championed bitcoin as a revolutionary, decentralized digital currency outside government control.

"Bitcoin is radical, it's rebellious, it's non-compliant, it's American," Scaramucci proclaimed. Voorhees added "Anything that moves the world away from centralized control of money to market-based control of money is something I would be in favor of."

In the other corner were gold advocates Peter Schiff, CEO of Euro Pacific Asset Management who famously predicted the 2008 housing crash, and economist Nouriel Roubini. They argued bitcoin has no intrinsic value and is essentially "digital fools gold."

"Bitcoin can't do anything that gold can do...You can't have digital gold, you can't make jewelry out of it," Schiff stated. Roubini bluntly called bitcoin "a damned speculative asset - that's it."

Schiff and Roubini repeated the same anti-crypto talking points they've been saying for the last 10 years... unfortunately, in 7 out of those 10 years Bitcoin outperformed all other investments.

How can anyone with a track record that includes 7 years of advising investors to avoid the most profitable investment still be taken seriously?

The intense 2+ hour debate covered a wide range of topics around modern monetary theory, inflation, the economic outlook, role of governments, and the fundamental value propositions of bitcoin vs gold.

Voorhees and Scaramucci made the case that bitcoin's fixed supply of 21 million coins and properties like pseudo-anonymity give it immense value as "a non-debasable monetary commodity." As Scaramucci said, "We took [the working class] from aspirational to desperation in 35 years" due to currency inflation.

However, Schiff and Roubini countered that bitcoin fails all the tests of being a true currency. "It's not a unit of account, not a scalable means of payment, and not a stable store of value...it can never be money," Roubini argued.

While no minds seemed changed by the intense back-and-forth, it encapsulated the broader ideological battle between bitcoin's freedom philosophy and gold's traditional role. 

With bitcoin's market cap over $1.2 trillion, this debate is no longer hypothetical. Its outcome will shape monetary systems, investing, privacy and decentralization for years ahead.

I tried my best to summarize the debate that ran slight over 2 hours long, but if you want to see every minute for yourself, you can view an archive of the live stream on Crypto Banter's Youtube Channel. 

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Author: Oliver Redding
Seattle Newsdesk  / Breaking Crypto News

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Top Analyst Predicts Bitcoin To Reach $150,000 In 2025 Heres Why

In the last week, Bitcoin has shown much resilience bouncing back above the $60,000 zone after a significant decline to below the $57,000 price zone. As Bitcoin bulls gather momentum to possibly initiate the crypto bull run, top analyst and market expert Peter Brandt has backed BTC to attain a particular six-figure digit value by [...]

The post Top Analyst Predicts Bitcoin To Reach $150,000 In 2025 Heres Why appeared first on Crypto Breaking News.

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Top Analyst Predicts Bitcoin To Reach $125,000 In 2025 Heres Why

In the last week, Bitcoin has shown much resilience bouncing back above the $60,000 zone after a significant decline to below the $57,000 price zone. As Bitcoin bulls gather momentum to possibly initiate the crypto bull run, top analyst and market expert Peter Brandt has backed BTC to attain a particular six-figure digit value by 2025. Related Reading: Bitcoin Relative Strength Jumps To 40%: 10x Research Reveals Next Steps From Here No Other Market Like Bitcoin, Brandt Says In a blog post on May 3, Peter Brandt shared some insights on Bitcoin in celebration of his 50th anniversary in future markets trading. The veteran analyst described his experience with the maiden cryptocurrency as a once-in-a-lifetime trade, never to be equaled. Bitcoin — the trade of a lifetime There has never been and never again will be another asset like Bitcoin $BTC Here is the perspective from my 50-year career as a professional traderhttps://t.co/fyHrGRRHLo pic.twitter.com/dwrBwtknqP Peter Brandt (@PeterLBrandt) May 3, 2024 Brandt states that Bitcoin is a unique asset in comparison to commodities such as gold, cattle, iron ore, copper,  and even other cryptocurrencies such as altcoins and meme coins. He claims that BTC owes this uniqueness to its operational nature as well as its price behavior. Analyzing BTC price history, Brandt notes that the coin has repeatedly produced exponential gains in the past not seen with any other trading asset. And while these gains are followed by significant corrections, the overall price performance sets BTC apart from other assets.  Another aspect of Bitcoins uniqueness as highlighted by Brandt is that the assets volatility is also evident in its downturns resulting in a decline of more than 50% and even 75%. Therefore, Bitcoin exerts a special ability to generate substantial profits while also causing significant losses. Now, following BTCs parabolic price nature, Brandt predicts the asset is on course to reach $125,000 by 2025. Interestingly, if the bulls maintain market control, the analyst believes Bitcoin could rise as high as $300,000 beyond 2026. Source: Peter Brandt on X Related Reading: Analyst Says Bitcoin Price Is Headed To $90,000, Heres Why BTC Price Overview At the time of writing, Bitcoin trades at $63,303 having encountered serious resistance in the $64,000 price zone. The maiden cryptocurrency currently looks to be in consolidation and could be preparing for another possible breakout.  If Bitcoin embarks on a bull run, investors would be hoping for a return to its all-time high value of $73,750. However, in the advent of more selling pressure in the future, BTC could drop below $60,000 again. Nevertheless, Bitcoin remains the diamond of the crypto bull season with several analysts hyping the digital asset to trade above $100,000 within the next 12 to 15 months.  BTC trading at $63,405 on the daily chart | Source: BTCUSDT chart on Tradingview.com Featured image from iStockphotos, chart from Tradingview

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Bitcoins Unmatched Soaring Trajectory: 50 Years of Trading Wisdom Revealed

Bitcoin takes center stage as veteran commodities trader Peter Brandt celebrates his 50th trading anniversary. In a recent blog post, Brandt reflects on his journey spanning half a century in trading, observing the evolution of markets since 1971. For Brandt, whose initial trade involved futures contracts of pre-1964 Silver quarters and dimes, BTC represents a […]

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