Peter Schiff, a financial commentator, believes that Bitcoin is actually benefiting the Federal Reserve, despite its anti-establishment nature. He argues that Bitcoin is diverting attention from gold, which would otherwise highlight the central bank's policy errors. Gold has recently reached a record high of $2,630 following a rate cut by the U.S. Federal Reserve. Bitcoin has also gained ground after the rate cut, but it is still below its previous record high. On the other hand, commodity trader Peter Brandt predicts that Bitcoin could outperform gold based on an observed inverse head-and-shoulders pattern.
- Content Editor ( u.today )
- 2024-09-23
Bitcoin Is “Best Thing to Happen to Fed,” Schiff Says