Peter Schiff, co-founder of Echelon Wealth Partners I set my aim On his overly optimistic Bitcoin (BTC) price forecast at Tomley of Fundstrat, one of Wall Street’s most famous perma abals.
Lee, who predicts the price of major cryptocurrencies could reach the $200,000 level, has denounced the latest performance of major cryptocurrencies against the Federal Reserve’s unwillingness to cut interest rates.
However, Schiff notes that gold has actually skyrocketed 10% over the past two months, reaching its all-time high of $3,620 recently.
As Reported by U.Todaya well-known financial commentator claimed that people who chose Bitcoin actually bet on the wrong horse after gold reached a new peak due to rising prospects for the Fed’s reduction rate without fully adjusting inflation.
Sinking below $100,000?
Schiff now argues that Bitcoin is actually likely to fall below $100,000 at rallies above $200,000.
“The market is looking ahead, so gold is rising 10% ahead of future interest rate cuts. Not meeting with money based on the same prospect should raise concerns for him,” Schiff said.
Polymakebetters are also weakened by Lee’s betting. At the time of pressing, there is currently only an 8% chance that Bitcoin will reach $200,000 this year. In particular, Bitcoin is currently the same chance of falling below the $70,000 level by the end of 2025.
An overwhelming 4-year cycle?
Sif recently stated his four-year return on Bitcoin It looks overwhelming What if “more air” comes out of the Bitcoin bubble. He points out that cryptocurrency has actually dropped 16% against gold over the past four years despite having a relatively impressive return on the US dollar.
There is also debate as to whether the four-year cycle, which is thought to be linked to Bitcoin’s harving mechanism, is still important. Some analysts claim they are effective That’s all.
Recently Lee opinion The influx of institutional investors has brought “anti-cyclical characteristics” to the market.
