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Peter Schiff Shrugs At Gold’s Drop But Warns Bitcoin Can’t Handle The Same


by Izabela Anna
for CoinEdition
Peter Schiff Shrugs At Gold’s Drop But Warns Bitcoin Can’t Handle The Same

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  • Gold’s slide off record highs looks like a momentum reset with support building near $4,000, Schiff said.
  • He warned that crypto doesn’t get the same cushion because ETF-style selling and borrowed BTC can accelerate declines.
  • Strong metal prices still help miners, tokenized gold and non-U.S. dividend plays in a softer-dollar backdrop.

Gold’s run stalled this week, but Peter Schiff said the move was a clean reset inside a strong uptrend, not the start of a reversal. He pointed to support forming near $4,000 and said fast drops like this flush leveraged late buyers so the trend can keep climbing. 

He also drew a line to crypto, arguing that the same kind of pullback in Bitcoin or in spot-style products usually gets amplified by ETF redemptions and loan liquidations, which makes digital assets more fragile than bullion on bad days.

Read The Full Article Peter Schiff Shrugs At Gold’s Drop But Warns Bitcoin Can’t Handle The Same On Coin Edition.

Read the article at CoinEdition

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$ 86.81K

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Coins

$ 86.81K

-0.29%

$ 0.00...361

$ 0.000603

$ 0.000161


Share:

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Traders mull the bottom as bitcoin returns to week's lows below $86,000

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One analyst isn't quite ready to call a bottom, but says bitcoin is surely in an over...

Peter Schiff Shrugs At Gold’s Drop But Warns Bitcoin Can’t Handle The Same


by Izabela Anna
for CoinEdition
Peter Schiff Shrugs At Gold’s Drop But Warns Bitcoin Can’t Handle The Same

Share:

  • Gold’s slide off record highs looks like a momentum reset with support building near $4,000, Schiff said.
  • He warned that crypto doesn’t get the same cushion because ETF-style selling and borrowed BTC can accelerate declines.
  • Strong metal prices still help miners, tokenized gold and non-U.S. dividend plays in a softer-dollar backdrop.

Gold’s run stalled this week, but Peter Schiff said the move was a clean reset inside a strong uptrend, not the start of a reversal. He pointed to support forming near $4,000 and said fast drops like this flush leveraged late buyers so the trend can keep climbing. 

He also drew a line to crypto, arguing that the same kind of pullback in Bitcoin or in spot-style products usually gets amplified by ETF redemptions and loan liquidations, which makes digital assets more fragile than bullion on bad days.

Read The Full Article Peter Schiff Shrugs At Gold’s Drop But Warns Bitcoin Can’t Handle The Same On Coin Edition.

Read the article at CoinEdition

In This News

Coins

$ 86.81K

-0.29%

$ 0.00...361

$ 0.000603

$ 0.000161


Share:

In This News

Coins

$ 86.81K

-0.29%

$ 0.00...361

$ 0.000603

$ 0.000161


Share:

Read More

Bitcoin ETFs Surge: $459 Million Flood Reverses Outflow Trend with Stunning Momentum

Bitcoin ETFs Surge: $459 Million Flood Reverses Outflow Trend with Stunning Momentum

BitcoinWorld Bitcoin ETFs Surge: $459 Million Flood Reverses Outflow Trend with Stun...
Traders mull the bottom as bitcoin returns to week's lows below $86,000

Traders mull the bottom as bitcoin returns to week's lows below $86,000

One analyst isn't quite ready to call a bottom, but says bitcoin is surely in an over...