Bitcoin may face deterioration despite bullish signals

Byadmin

Jun 29, 2024
Bitcoin may face deterioration despite bullish signalsBitcoin may face deterioration despite bullish signals

Economist Peter Schiff has issued a warning, predicting a bleak future for Bitcoin (BTC) investors. He notes that those who switched from gold ETFs to Bitcoin ETFs at the end of the first quarter are now in a 20% worse position. Schiff emphasizes that this trend may worsen, highlighting that while gold closed Q2 with a 4% gain, Bitcoin is down over 15% as of now. He tweeted, “Investors who sold gold ETFs at the end of Q1 to buy Bitcoin ETFs are 20% worse off. The bad news for those investors is that it will likely get much worse from here.” Despite Schiff’s pessimism, Quinn Thompson from Lekker Capital expressed optimism, predicting a significant market rise in cryptocurrencies leading up to the US presidential elections in November. These contrasting viewpoints underscore the volatile and unpredictable nature of the cryptocurrency market, with some experts seeing potential for strong performance by the end of the year despite the current bearish sentiments. Read more:

Solana integrates Worldcoin ID into its ecosystem. These contrasting viewpoints underscore the volatile and unpredictable nature of the cryptocurrency market, with some experts seeing potential for strong performance by the end of the year despite the current bearish sentiments.

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