Bitcoin’s Rally to $82K Post Trump’s Election Win Not Enough To Flip Over Long-Term Critic Peter Schiff: No Fundamentals, Just ‘Mania’
Posted On November 11, 2024
Peter Schiff, a long-time critic of Bitcoin (CRYPTO: BTC), expressed skepticism about the recent surge in Bitcoin’s value. On Monday, he posted that the rise in Bitcoin has no connection to its fundamentals.
What Happened: Schiff highlighted that the U.S. dollar is strengthening, gold prices are declining, and the U.S. economy is expected to experience a boom. He attributed the Bitcoin rally to a “Trump-inspired mania” rather than any intrinsic value of the cryptocurrency.
Bitcoin recently reached a historic milestone, surpassing $82,000, driven by optimism surrounding President-elect Donald Trump‘s supportive stance on cryptocurrencies. …
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