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Economist "Peter Schiff" mocks Bitcoin holders, stating: Everyone is selling now!
Peter Schiff, the economic expert and co-founder of Echelon Wealth Partners, mocked Bitcoin supporters on platform X, stating that investors, whether risk-takers or cautious, have begun to abandon the cryptocurrency.
"Chef" noted that both stocks and Bitcoin recently hit record levels, but Bitcoin's performance did not keep pace with the strong momentum of traditional markets, particularly the Nasdaq index, which reached a historic peak ahead of the anticipated rate cut by the Federal Reserve.
In contrast, gold has maintained a bullish trend, surpassing $3600 for the first time, while the price of Bitcoin remains below its peak recorded in August at $124,128, down by about 6.2%.
While some see interest rate cuts as a stimulus for the market, "Chef" believes that the Federal Reserve is making a grave mistake, considering that current policies are excessively lenient and require an increase in interest rates, not a decrease, in anticipation of inflation risks.
#Altcoin Market Rebound