The post Schiff: Bitcoin Crash Was a ‘Warning’ appeared on BitcoinEthereumNews.com. Bitcoin’s uncertain recovery  Gold’s new peak  Peter Schiff, a prominent financial commentator, claims that the Friday Bitcoin flash crash was a “warning” instead of merely a “buying opportunity.”   “Crypto buyers are in for a rude awakening and will soon learn a very valuable but expensive lesson,” Schiff said.  Bitcoin’s uncertain recovery  As reported by U.Today, Bitcoin and U.S. equities plunged sharply lower on Friday due to rapidly worsening trade tensions between the US and China.  Altcoins got absolutely clobbered after the U.S. announced draconian 100% tariffs on Chinese goods. The market witnessed $19 billion worth of liquidations, and Fundstrat’s Tom Lee argues that this figure might actually be understated.  Cryptocurrencies then saw a rather sharp recovery after the White House seemingly opened the door to a trade deal with China.  However, they have erased some of these gains once again as trade tensions between the two superpowers continue to simmer.  Bitcoin dipped to an intraday low of $113,030 earlier today, according to CoinGecko data.  Both stocks and crypto remain extremely sensitive to the latest headlines.   Gold’s new peak  In the meantime, the price of gold recently reached a new peak above the $4,100 level.  According to Schiff, gold’s massive surge is exposing the “fiction” that Bitcoin is actually “digital gold.” “The bottom can drop out of Bitcoin at any time,” the gold bug warned.  The odds of Bitcoin outperforming Bitcoin this year appear to be extremely slim given that “Uptober” has so far been extremely lackluster.  Source: https://u.today/schiff-bitcoin-crash-was-a-warningThe post Schiff: Bitcoin Crash Was a ‘Warning’ appeared on BitcoinEthereumNews.com. Bitcoin’s uncertain recovery  Gold’s new peak  Peter Schiff, a prominent financial commentator, claims that the Friday Bitcoin flash crash was a “warning” instead of merely a “buying opportunity.”   “Crypto buyers are in for a rude awakening and will soon learn a very valuable but expensive lesson,” Schiff said.  Bitcoin’s uncertain recovery  As reported by U.Today, Bitcoin and U.S. equities plunged sharply lower on Friday due to rapidly worsening trade tensions between the US and China.  Altcoins got absolutely clobbered after the U.S. announced draconian 100% tariffs on Chinese goods. The market witnessed $19 billion worth of liquidations, and Fundstrat’s Tom Lee argues that this figure might actually be understated.  Cryptocurrencies then saw a rather sharp recovery after the White House seemingly opened the door to a trade deal with China.  However, they have erased some of these gains once again as trade tensions between the two superpowers continue to simmer.  Bitcoin dipped to an intraday low of $113,030 earlier today, according to CoinGecko data.  Both stocks and crypto remain extremely sensitive to the latest headlines.   Gold’s new peak  In the meantime, the price of gold recently reached a new peak above the $4,100 level.  According to Schiff, gold’s massive surge is exposing the “fiction” that Bitcoin is actually “digital gold.” “The bottom can drop out of Bitcoin at any time,” the gold bug warned.  The odds of Bitcoin outperforming Bitcoin this year appear to be extremely slim given that “Uptober” has so far been extremely lackluster.  Source: https://u.today/schiff-bitcoin-crash-was-a-warning

                                                                               Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday.                     The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction.  “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more