Renowned economist and gold advocate Peter Schiff made a comparison between Bitcoin and traditional fiat currencies, highlighting the main similarity between them, which is that their market value is derived from people's faith in them. However, Schiff pointed out the main difference, stating that while no one expects to get rich holding cash, confidence in Bitcoin can be more easily lost. Schiff has been a staunch critic of Bitcoin and has previously criticized BTC exchange-traded funds. The price of Bitcoin has experienced volatility recently, with a tight 60-day price range that historically precedes heightened volatility. Additionally, investors are anticipating potential interest rate cuts from the Federal Open Market Committee in their upcoming meeting.



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