Weekend Crypto News Highlights

Schiff Predicts Continued Bitcoin Price Drop

On Friday, Peter Schiff criticized Bitcoin, stating that since reaching its all-time high in March, BTC has dropped by 14%. In comparison, gold has grown by 10% over the same period. Those who switched from gold to Bitcoin face a loss of up to 24%. Schiff predicts a prolonged decline in Bitcoin's price.

Ripple CEO's Legal Victory

Ripple CEO, Brad Garlinghouse, celebrated a legal victory in California. Judge Phyllis Hamilton dismissed four claims against Ripple regarding securities law violations. Only one claim on a 2017 statement by the CEO will proceed to trial. Despite this, Garlinghouse reaffirms that XRP is not a security.

Shiba Inu Burns Tokens

Shiba Inu experienced a significant burn rate surge, removing a substantial number of tokens from circulation. However, this did not impact the price of SHIB, which remains relatively stable amidst a bearish crypto market.