Vocal bitcoin rival has announced that “Bitcoin’s dead cat boom is soon over” and named conditions he believes could soon become real.
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- “Bitcoin’s Dead Cat Bounce” Is Soon Over, Here, According to Schiff
- Bitcoin stays above $44,000 when whale deposits 11.78 million BTC
Noted bitcoin critic Peter Schiff moved to twitter To say that gold is likely to rise soon and bitcoin’s short-term rise will end, explaining its possible reasons.
This is not the first time the founder of SchiffGold has been promising an “end of bitcoin” soon and naming its probable or expected reasons.
“Bitcoin’s Dead Cat Bounce” Is Soon Over, Here, According to Schiff
In his tweet, the prominent gold bug reminded viewers that the price of crude oil has risen to the level of $106 and added that he expects it to reach $140 next.
According to Schiff, gold is likely to be the next asset to climb. A new all-time high will be near as it rises from the current $1,924 price mark to $1,950 and crosses $2,000.
After that, Schiff believes, the dead cat boom of the stock market and — what’s more important to Peter Schiff than bitcoin — will be over.
#Oil Its price has broken above the $106 level. That’s clear sailing up to $140. #Sleep likely to be next. Once the price rises above $1,950, I think it will hit a new all-time high despite $2,000. It even looks like a dead-cat boom in losing money. #stocks And #bitcoin It’s over!
— Peter Schiff (@PeterSchiff) 1 March 2022
In late January, Schiff wrote on Twitter that he expects the flagship digital currency to face a flash crash as soon as it crosses the $30,000 level. He posted that tweet when BTC fell to $35,000.
Bitcoin stays above $44,000 when whale deposits 11.78 million BTC
Digital gold has been on the rise since February 28, when it rose from the $38,000 to above the $40,200 line and then moved up. On the same day, it touched a local high above the $44,000 level.
On March 1, bitcoin managed to close to a recovery of $45,000, reaching $44,600 after a short drop.
At the moment, BTC is at the price level last seen on February 15th. However, bitcoin has been going down since November 10, when it reached a historical price peak of $68,789.
BTC is down 40% since its all-time high.
Investors have been actively hoarding bitcoin lately, according to reports from Glassnode and IntoTheBlock covered by U.Today on Tuesday. Over the past 30 days, BTC Wallet, which acquired bitcoin for the first time a year ago, has increased its holdings by 4.13%. They now have $516,369,232,000 worth of BTC.