The latest Bitcoin Flash Crash He escaped the debates about the true value of the world’s largest cryptocurrency. Critics say it highlights the differences between digital assets and traditional safe investments, such as gold, revealing and challenging the long-held myth about BTC gold status.
The Bitcoin Flash Crash Highlights the Takeover of “Digital Gold” Narrative
Veteran Economist and Bitcoin Eggcess Peter Schiff has been analyzing the Flash Crash that shook up the crypto market Last Friday. He – the juice EX Media Post fell sharply in a sharp decline, which saw BTC drop it From more than $122,000 to $102,000 in one day, it was not a buying opportunity but a serious warning to investors.
In particular, the risk of bitcoin flash came after US President Donald Trump announced a 100% import of Chinese technologyadded geopolitical pressure to the market. Reports from many analysts have also indicated that the internal prices of minance are suspected to be – given That day’s big drawdown, extended the broader market’s decline.
Schiff highlighted in his post that Surgery at the price of gold During the Bitcoin Flash crash it debunks the myth that BTC is digital gold, underscoring the big difference between the two Equity driven mutual funds and traditionally physical property. He also points out that the idea of bitcoin as a stable and reliable store of value is flawed, pointing out that the price of the cryptocurrency can fall at any time in the future.
Speaking to the crypto community, Schiff warned that many investors stand to lose heavily by choosing BTC over gold. He -he said That BTC enthusiasts seem to be afraid of gold’s ‘exposing bitcoin as an illusion that it is a thing,’ highlights the eternal stability and stability that continues with traditional stability.
Apparently, his comments about bitcoin are very offensive backup sange from many bitcoin maximalists and crypto investors, many of them pointing BTC Record high over $126,000 Contrary to Schiff’s previous failed predictions or “warnings” that the cryptocurrency will not reach $100,000.
Schiff also predicts a further decline in BTC
In the following post on X, Schiff addressed the idea of BITCoin close to him, prediction sharp deterioration from existing ave levels. He analyzed broad market trends, in particular Nasdaq futures performancesuggesting that if the index falls by an additional 7.5%, it will enter a correction zone, potentially causing a 15% drop in BTC prices.
A 15% drop in the price of BTC could send it hitting below $95,000. However, Schiff went ahead and predicted that Cryptocurrencies can continue to slide With the highest level of support near $75,000, which represents a 34% decline from current levels around $112,000.
Moving on, Financial Professional highlighted different performance of the precious metals, notes that gold and silver continue to rise as Bitcoin and Edereum Retch. Schiff also warned that cryptocurrency buyers may be in for a “shameful awakening,” describing the experience as an expensive but valuable lesson.
Featured image from Getty Images, chart from Tradingview.com
Planning process At Bitcoinist we focus on delivering well-researched, accurate, and unlimited content. We maintain strict sourcing standards, and each page receives diligent review by our team of senior technical experts and experienced editors. This process ensures the integrity, relevance, and value of our content for our readers.
