Peter Schiff Warns of Crypto Market Crash: FED’s Action Under Scrutiny
The post Peter Schiff Warns of Crypto Market Crash: FED’s Action Under Scrutiny appeared on BitcoinEthereumNews.com.
Popular market analyst Peter Schiff 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 Donald Trump 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 (ETH) ETFs due to a weaker dollar and rising oil costs. Bigger Market Crash Incoming? In case you haven’t noticed, despite yesterday’s launch of 8 #EthereumETFs , #Ether is already down over 7% in the past 24 hours. #Bitcoin is down too, falling 2% over the same time period. The stage is set for a #crypto crash, just in time for the Nashville Bitcoin conference. — Peter Schiff (@PeterSchiff) July 25, 2024 In a series of tweets, Schiff pointed 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 Ethereum ETFs 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 BTC. Hard Landing for Gold, Silver, and Financial Market Moving on, Schiff’s concerns went beyond cryptocurrencies…
Filed under: News - @ July 25, 2024 7:26 am