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Contents
<ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h28">âIgnoring Bitcoin's 12% gain todayâ</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h365">Bitcoin has outperformed S&P 500</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h44">âMight be testing the levels at $4,200 or $4,800â</a></li></ul>
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On Monday, after the Fed’s announcement of ‘<a href="https://u.today/bitcoin-btc-bulls-go-wild-as-fed-reserve-announces-qe-infinity">QE Infinity</a>’, the price of Bitcoin soared past the $6,000 level and is now trading in the $6,600 area with analysts debating whether it will keep rising or show a massive reverse.
Overnight, Bitcoin added about 18 percent. However, the prominent Bitcoin opponent and gold advocate, Peter Schiff, stated that Bitcoin is still underperforming gold and the latter is in a bull market, unlike BTC.
‘Ignoring Bitcoin's 12% gain today’
The CEO of Euro Pacific Capital, Peter Schiff, has again taken to Twitter to stab at Bitcoin despite its significant overnight price gains, rising by around $1,000.
In his latest tweet, Schiff says that, despite the new quick gains, Bitcoin is still 35 percent below its 2020 high and just 3 percent up YTD.
Unlike BTC, says Schiff, gold is in a bull market. XAU is only 2 percent below its 2020 high and is up 7 percent year-to-date.
<blockquote class="twitter-tweet">
<a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw">#Bitcoin</a> bugs are accusing me of ignoring Bitcoin's 12% gain today, while tweeting about gold's 7% rise. Bitcoin is still in a bear market. It's still down 35% from its 2020 high, and 3% YTD. In contrast, gold is in a bull market. It's only 2% below its 2020 high, and up 7% YTD.
— Peter Schiff (@PeterSchiff) <a rel="nofollow" target="_blank" href="https://twitter.com/PeterSchiff/status/1242421760211013632?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
Schiff also says that now BTC is 65 percent below its 2017 high and that it may never reach a new high ever again, unlike gold.
<blockquote class="twitter-tweet">
<a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/Gold?src=hash&ref_src=twsrc%5Etfw">#Gold</a> is only about 13% below its 2011 record high. <a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw">#Bitcoin</a> is about 65% below its 2017 high. Big difference. Gold will soon take out its record high. Bitcoin may never make a new high!
— Peter Schiff (@PeterSchiff) <a rel="nofollow" target="_blank" href="https://twitter.com/PeterSchiff/status/1242429736334303232?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
Bitcoin has outperformed S&P 500
CIO of Arcane Assets and trader Eric Wall stated that over the past months Bitcoin has been outperforming the S&P 500 index.
Alex Kruger also recently tweeted that Bitcoin has been <a href="https://u.today/bitcoin-btc-gold-xau-best-assets-for-hedging-in-2020-crypto-expert">trading like a low beta stock</a> as of late, which means that BTC is starting to behave like a safe haven asset. Trader Willy Woo shared a similar take on Monday.
<blockquote class="twitter-tweet">
Bitcoin is outperforming the S&P 500 over the last 30 days. <a rel="nofollow" target="_blank" href="https://t.co/bon9LfYsro">pic.twitter.com/bon9LfYsro</a>
— Eric Wall IS RIGHT (@ercwl) <a rel="nofollow" target="_blank" href="https://twitter.com/ercwl/status/1242247925218136064?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
<a rel="nofollow" target="_blank" href="#">card</a>
‘Might be testing the levels at $4,200 or $4,800’
As per the short-term prospects for Bitcoin, trader ‘Crypto Michael’ believes that BTC is likely to drop and test the $4,800-$4,200 area.
However, he reminded the community that low levels offer great opportunities for BTC investors.
<blockquote class="twitter-tweet">
Short term; We might be seeing high volatility and might be testing the levels at $4,200 or $4,800.
Long term; I can't be more bullish on crypto and commodities, knowing what measures are taken everywhere.
These low levels are just massive opportunities.
In my opinion.<a rel="nofollow" target="_blank" href="https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw">$BTC</a>
— Crypto Michaël (@CryptoMichNL) <a rel="nofollow" target="_blank" href="https://twitter.com/CryptoMichNL/status/1242420575223590912?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
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Contents
<ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h28">âIgnoring Bitcoin's 12% gain todayâ</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h365">Bitcoin has outperformed S&P 500</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h44">âMight be testing the levels at $4,200 or $4,800â</a></li></ul>
Advertisement
On Monday, after the Fed’s announcement of ‘<a href="https://u.today/bitcoin-btc-bulls-go-wild-as-fed-reserve-announces-qe-infinity">QE Infinity</a>’, the price of Bitcoin soared past the $6,000 level and is now trading in the $6,600 area with analysts debating whether it will keep rising or show a massive reverse.
Overnight, Bitcoin added about 18 percent. However, the prominent Bitcoin opponent and gold advocate, Peter Schiff, stated that Bitcoin is still underperforming gold and the latter is in a bull market, unlike BTC.
‘Ignoring Bitcoin's 12% gain today’
The CEO of Euro Pacific Capital, Peter Schiff, has again taken to Twitter to stab at Bitcoin despite its significant overnight price gains, rising by around $1,000.
In his latest tweet, Schiff says that, despite the new quick gains, Bitcoin is still 35 percent below its 2020 high and just 3 percent up YTD.
Unlike BTC, says Schiff, gold is in a bull market. XAU is only 2 percent below its 2020 high and is up 7 percent year-to-date.
<blockquote class="twitter-tweet">
<a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw">#Bitcoin</a> bugs are accusing me of ignoring Bitcoin's 12% gain today, while tweeting about gold's 7% rise. Bitcoin is still in a bear market. It's still down 35% from its 2020 high, and 3% YTD. In contrast, gold is in a bull market. It's only 2% below its 2020 high, and up 7% YTD.
— Peter Schiff (@PeterSchiff) <a rel="nofollow" target="_blank" href="https://twitter.com/PeterSchiff/status/1242421760211013632?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
Schiff also says that now BTC is 65 percent below its 2017 high and that it may never reach a new high ever again, unlike gold.
<blockquote class="twitter-tweet">
<a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/Gold?src=hash&ref_src=twsrc%5Etfw">#Gold</a> is only about 13% below its 2011 record high. <a rel="nofollow" target="_blank" href="https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw">#Bitcoin</a> is about 65% below its 2017 high. Big difference. Gold will soon take out its record high. Bitcoin may never make a new high!
— Peter Schiff (@PeterSchiff) <a rel="nofollow" target="_blank" href="https://twitter.com/PeterSchiff/status/1242429736334303232?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
Bitcoin has outperformed S&P 500
CIO of Arcane Assets and trader Eric Wall stated that over the past months Bitcoin has been outperforming the S&P 500 index.
Alex Kruger also recently tweeted that Bitcoin has been <a href="https://u.today/bitcoin-btc-gold-xau-best-assets-for-hedging-in-2020-crypto-expert">trading like a low beta stock</a> as of late, which means that BTC is starting to behave like a safe haven asset. Trader Willy Woo shared a similar take on Monday.
<blockquote class="twitter-tweet">
Bitcoin is outperforming the S&P 500 over the last 30 days. <a rel="nofollow" target="_blank" href="https://t.co/bon9LfYsro">pic.twitter.com/bon9LfYsro</a>
— Eric Wall IS RIGHT (@ercwl) <a rel="nofollow" target="_blank" href="https://twitter.com/ercwl/status/1242247925218136064?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
<a rel="nofollow" target="_blank" href="#">card</a>
‘Might be testing the levels at $4,200 or $4,800’
As per the short-term prospects for Bitcoin, trader ‘Crypto Michael’ believes that BTC is likely to drop and test the $4,800-$4,200 area.
However, he reminded the community that low levels offer great opportunities for BTC investors.
<blockquote class="twitter-tweet">
Short term; We might be seeing high volatility and might be testing the levels at $4,200 or $4,800.
Long term; I can't be more bullish on crypto and commodities, knowing what measures are taken everywhere.
These low levels are just massive opportunities.
In my opinion.<a rel="nofollow" target="_blank" href="https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw">$BTC</a>
— Crypto Michaël (@CryptoMichNL) <a rel="nofollow" target="_blank" href="https://twitter.com/CryptoMichNL/status/1242420575223590912?ref_src=twsrc%5Etfw">March 24, 2020</a></blockquote>
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Dan Burgin
