Bitcoin Rally Over? Peter Schiff Predicts a Harsh Market Reversal!
The excitement around Bitcoin’s meteoric rise may be fading—at least according to well-known economist Peter Schiff, who didn't hold back on X (formerly Twitter) after BTC slipped below $86,000. Declaring the end of the party, Schiff mocked the idea of a continued bull run, warning that this was just the beginning of a larger downturn. He dismissed the optimism in the market, stating: "No panic, no surrender? This is just the calm before the storm!"
Trump’s Role in the Bitcoin Market
Interestingly, Schiff pointed to former President Donald Trump as a potential game-changer. He suggested that the only way Bitcoin could avoid a sharp decline would be if Trump made a historic move—aggressively buying BTC to establish a national strategic reserve. Comparing it to a "crypto version of quantitative easing," Schiff imagined a scenario where the government stockpiled Bitcoin instead of traditional assets like bonds. However, he quickly dismissed this as fantasy, insisting that while Trump’s executive order did reference a 'national digital asset reserve,' it was merely a political move benefiting large donors rather than true crypto adoption.
Is the Bear Market Knocking?
Bitcoin’s recent pullback to $88,700, with a 3.63% decline in 24 hours, has left many retail investors feeling uneasy. Schiff, ever the skeptic, urged Bitcoin holders to snap out of their euphoria, questioning whether they were truly prepared for the possibility of a prolonged bear market. His message was clear—will investors hold firm through the turbulence, or are they simply hoping for a last-minute rescue from Trump?
Regardless of Schiff’s bearish stance, Bitcoin has defied skeptics time and time again, proving its resilience in both bullish and bearish cycles. Whether this is just a temporary correction or the start of a deeper downturn remains to be seen.
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