Bitcoin has reached a new all-time high, prompting various reactions and discussions among experts. This article presents viewpoints from well-known financiers on current trends in the cryptocurrency market.
Peter Schiff's Opinion on Bitcoin and Silver
Longtime Bitcoin critic and gold advocate Peter Schiff said the latest BTC rally may be a selling opportunity for investors to buy silver instead. 'With Bitcoin hitting new highs today (in dollars), it’s a great time to sell some and buy silver ahead of silver’s next big leg up,' Schiff said.
Arthur Hayes' Analysis and the Crypto Market
Arthur Hayes, co-founder of BitMEX, also weighed in on market conditions. He said he was 'slightly bearish' due to the US Treasury General Account being replenished through new debt issuance, which could temporarily drain liquidity. Still, Hayes said he was bullish after Bitcoin reached a new all-time high, stating, 'Ether will outperform, get ready for a monster altcoin season.'
New Bitcoin Records and Future Prospects
Bitcoin reached a new all-time high on Thursday, surpassing $112,000, and is trading at nearly $118,000. Erald Ghoos, CEO of the European arm of crypto exchange OKX, noted that Bitcoin's surge 'isn't just noise; it reflects its emergence as the ultimate digital macro hedge.' He commented that amidst rising global trade tensions, institutions are treating BTC like a form of digital gold.
Experienced experts emphasize various aspects of current trends in the cryptocurrency market, including potential investment strategies and Bitcoin's significance as an asset. The recent developments suggest that July opens up new opportunities for investors.
