Famous economist and BTC critic Peter Shif boldly claimed that bitcoin is nothing like gold and went to explain why he thinks so. His latest criticism of the flagship crypto comes amidst the prediction of JP Morgan that BTC will perform better than precious metal.
Peter Shif says that bitcoin is contrary to gold
In X posT, the market expert said that despite the tagline of bitcoin BTC, there is nothing similar to gold as ‘Digital Gold’. He reported that BTC ralled with other risky assets, as the possibility of investors’ recession and inflation decreased. For example, they believe that the flagship crypto is not a shelter site contrast to gold, which usually increases when the macro fundamental is negative.
However, unlike Chif’s theory, BTC Price The tension between the US and China also increased in the ongoing trade war. Prior to China that there would be a trade talks on May 10, the Flagship Crypto was already trading below $ 100,000.
Shif’s statement came in the same way that JP Morgan analysts predicted that Bitcoin would perform better than sleeping in the second half of the year. They expect this thanks to a catalyst for growing demand from institutional investors and push by American states to create a strategic bitcoin reserve. Firms like strategy continue to deposit BTC at an impressive speed.
JP Morgan analyst Nicolos Panigirtzoglu said,
We hope that the game of zero-zero-zero-zero between gold and bitcoins to expand the remaining time of the year, but is biased to the crypto-specific catalysts that make more upside down to bitcoins in the second half of the year.
Next step for BTC price
Crypto’s crypto analyst Titan stated that $ 125,000 is still in the game for bitcoin value. He highlighted an inverted head and shoulder pattern on the BTC chart, which is developing. Based on this, he said that the target is valid.
In another update on current value action, Titan of Crypto stated that BTC held strong, with a large response to $ 100,000 despite a call for much lower prices from daily fair price intervals. He said that the setup remains fast until it keeps the zone.
In an X post, Crypto analyst Ali Martinez stated that $ 98,732 is a major demand area, where 1.19 million wallets are more than 1 million BTC. He also revealed that a lot of profit has been made this week, in which whales sell more than 30,000 BTC in the last 72 hours.
However, while selling whales, companies like companies Basal medical group Seeing to come in contact with bitcoin. As the Coingup reported, the company announced a plan to obtain $ 1 billion BTC for its Treasury Store.
Boluvatif edemy
Boluvatif Ademi is a well -veteran crypto news writer and editor who has covered many subjects and Niches cuts in Niches. The most technical concepts in Boluvatiff are a habit to simplify and make Crypto neobis easier to understand. Away from writing, he is a fond Chawla basketball lover, a passenger and a part -time Digen.
Disclaimer: The material presented may include the author’s personal opinion and is subject to the market status. Do your market research before investing in cryptocurrency. The author or publication does not have any responsibility for your personal financial loss.
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