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Peter Schiff Shared: Bitcoin failed to rally today along with other risk-on assets. This should be a major concern for the bulls. If speculators would rather put their chips elsewhere, and conservative investors stay away, who is left to buy Bitcoin? Today’s HODLers are likely tomorrow’s bag holders.
Community Reaction: Bitcoin correlating with risk assets is bearish, and Bitcoin diverging from risk assets is also bearish. Amazing.
Correct. No matter what your problem is, Bitcoin is no longer the solution. It’s just going down no matter what.
Ok, let’s revisit this prediction in a few years. There’s no need to wait a few years. Just revisit any of your dad’s tweets from the past.
Gold doing well today.
Correct, gold fell along with bonds as investors bought risk-assets. But soon gold will diverge from bonds, as when it comes to inflation, bonds are the riskiest asset, and gold is the safest!
Actually, agree with you for once gold is certainly the safest, as anyone that bought gold 10 years ago (TEN YEARS AGO) are basically at the same exact place they were then. The only thing safer is literally locking money in a safe.
But the value of that in dollar amount has been decreased significantly in that time. The amount of things you could buy 10 Years ago with your gold is much more than it is today.
By this logic, Gold failed to rally last year along with other inflation themed assets. This should be a major concern for the bulls. If specs would rather buy Bitcoin, conservative investors stay away, who is left to buy? Today’s stackers are likely tomorrow’s bag holders.
Still, I prefer to be the eventual bag holder of Gold than eventual USB stick holder of Crypto.
How much have you made in 2021 from gold? I’m guessing it’s measly, but each to their own.
One of the ultimate evidence against BTC is hidden in 5 minutes conversation with an average BTC supporter.
What exactly is this evidence against? He’s suggesting that it’s all about the money. Which is exactly what an asset is. Yes, even Gold. Gold will only be valuable for as long as people want to buy it, as will Bitcoin.
What a sick obsession you have with Bitcoin, you don’t have Bitcoin but you are thinking about Bitcoin all day, seriously go to a psychologist to help you overcome the trauma.
You must stare at Bitcoin charts all day. I assume it’s because you actively trade it since $GOLD moves as slow as your ability to process new technology.
The good thing of Gold is that supply is restricted by nature. Not the same with crypto. As many as your imagination tell you can be created.
You don’t understand Bitcoin. The supply of Bitcoin is restricted by nature, much better than gold.
Bitcoin is a crypto, they are not limited. Maybe you can’t remember Nokia but everyone thought they were unassailable. In the end, It was just another phone brand. And, hardly heard of these days swept aside by the competition.
They’re moving Bitcoin, Gold, and $USD to Raven coin because of the RVN halvening. Think of it like this. Imagine that in 6 days, the same amount of gold mining nets only 1/2 the amount of gold. What do you think would happen?
Correct. Dogecoin is the new bitcoin. Been DCA-ing lately in doge. Bitcoin is dead bro.
It’s rather funny how obsessed you are with Bitcoin sir. Aren’t you supposed to be focusing on your thing? GOLD?
He doesn’t believe in it and barely owns gold beyond some paper. Admitted he barely holds any physical. All you need to know.
Gold’s failing to entice younger crowds and why would they be interested? They grew up with computers and tech and know its value. Bitcoin is the best tech asset. Its divisible, can be traded 24/7 with no downtime, no middle-men and it is provably scarce.
Gold is shiny and all but bitcoin is more fun.
What you don’t seem to get is that Bitcoin is either going to a million or zero. So, every day that it doesn’t crash is a win for Bitcoin. Every day with no crash is one day closer to mass adoption.
At this point there isn’t a need to advertise how well adoption is going. Are there a bunch of new gold investors? Or is that a failing market?
Lots of high-beta stocks down today, including great companies like CRWD, NET, ZS (stocks I hold). Bitcoin is not correlated with the stock market, which is why it’s my 2nd biggest holding after TSLA. Rock on!
And where was gold last year? Oh, down 3% almost forgot.
Keep trolling, when the dust settles no one will have anywhere else to go but bitcoin.
