Peter Schiff: Bitcoin HODLers Delusional as Gold Outperformed BTC, But Did It?

Peter Schiff, the CEO of Euro Pacific Capital, says “HODLers” of Bitcoin “remain delusional” because gold outperformed Bitcoin since 2019. But, BTC actually outperformed the precious metal so far in 2020. Schiff said: “Since hitting its high in June of last year the price of Bitcoin has fallen by 33%. During that same time period the price of gold has risen by 27%. So, priced in gold Bitcoin has fallen by 53%. The long-term trend has clearly changed in gold’s favor. HODLers remain delusional.” Year-to-date, Bitcoin increased from $7,153 to…

Tesla Stock Surpasses $1,200 — Now 30% Higher Than Bitcoin Market Cap

The stock price of Tesla (TSLA) surpassed $1,200 in pre-market, achieving a market capitalization of over $220 billion. Now, the most valuable car company in the world is worth 30% more than the entire market cap of Bitcoin (BTC), the biggest and most popular cryptocurrency in the world.  Tesla overtook Toyota to become the highest-valued car manufacturer in the global market. It now looks to establish its dominance in the sector as its stock continues to soar. The stock price of Tesla surpassed $1,200 in pre-market. Source: CNBC Catalysts sending…

Blockchain Explorer to Educate Users With a Bitcoin Transaction Privacy Score

Multi-platform blockchain explorer Blockchair has added a “privacy-o-meter” for every Bitcoin (BTC) transaction that identifies which part is the change. This is the key to tracing a chain of transactions on the blockchain. While the Bitcoin blockchain is theoretically transparent, in practice it can be hard to identify the true flow of funds. Unless the wallet is drained completely, every transaction includes at least two unspent transaction outputs (UTXO), where one of them is returned to the sender as change. Blockchair uses several basic and advanced heuristics to assign a…

Analyst Expects Bitcoin Above $9.5K in Near-Term as Risk-On Sentiment Improves

Bitcoin analyst Edward Morra sees price heading towards $9,575 in the coming sessions. The prediction surfaces after the cryptocurrency failed to close above its short-term resistance level near $9,285. It also appears as global risk-on sentiment improves on positive job reports and vaccine hopes. Bitcoin could close above $9,500 in the coming session even as it experiences modest sell-offs near its interim resistance level $200 below. That is, according to Edward Morra. The Bitcoin analyst-cum-trader said that the BTC/USD exchange rate could establish a local top at $9,575. The level…

This Eerie Nasdaq Fractal Predicts Bitcoin Will Rocket to $15,000 in 2020

In May and June, Bitcoin sustained multiple consecutive rejections at $10,000. Every time the cryptocurrency surpassed that level, the rally was quickly stopped by sellers. The chart below from Blockroots founder Josh Rager depicts this trend well. Chart of BTC’s price action over recent months by Josh Rager (@Josh_rager on Twitter). Chart from Tradingview.com Bitcoin may soon hold above $10,000, however, with analysts observing new evidence suggesting an imminent rally. Bitcoin Fractal Predicts An Imminent Rally Past $10,000 Bitcoin is trading in line with a Nasdaq fractal predicting Bitcoin will…

Bitcoin, Stocks at Risk as Dr. Fauci Predicts 100K Daily New COVID Cases

Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases and a key member of the White House coronavirus taskforce, says the number of daily infections in the U.S. could reach 100,000 per day if immediate precautions are not taken to prevent the spread of the virus.  As Fauci issued this warning, stocks reacted with caution and investors are anticipating that a downturn in equities markets may lead to a correction in Bitcoin (BTC) price. Fauci also cautioned that an effective vaccine may not arrive as…

All Inflation? In Bitcoin Terms, Stocks Never Recovered From Covid-19

Bitcoin (BTC), in fact, crushed stock markets during the Covid-19 recovery with equity “growth” simply down to inflation, fresh data argues. Charts showing stocks denominated in gold and Bitcoin in 2020 show that far from having their best quarter in ten years, markets had no “recovery” at all. “It’s all inflation” The perspective is starkly different to the message coming from governments and mainstream media about the health of the economy. Central bank intervention, they claim, helped boost stocks to clinch their strongest quarterly growth since 2011 in Q2. But…

S2F Bitcoin Price Prediction Model as Accurate as Astrology, Says Exec

Prominent members of the crypto community continue to express skepticism over the stock-to-flow (S2F) chart, a Bitcoin (BTC) price prediction model recently revised by analyst PlanB.  Nico Cordeiro, CIO at crypto quant fund Strix Leviathan, called S2F a “chameleon,” a term from Stanford professor Paul Pleifderer describing models built upon dubious assumptions.  “The model’s accuracy will likely be about as successful at forecasting Bitcoin’s future price as the astrological models of the past were at predicting financial outcomes,” Cordeiro said. Revisions to past models Cointelegraph reported on June 1 that…

Big Finance Tried to Discredit Bitcoin, Here’s Why They’re Wrong

Key Takeaways Critics believe Bitcoin is a bad investment because of its lack of yield and use in money laundering. The argument that Bitcoin’s volatility is the main reason for hedge fund interest is a coherent argument, but could be discarded in the years to come. Bitcoin is a monetary asset, not a claim on ownership of a company; a lack of cash flows is not detrimental to its investment thesis Systemic financial institutions using dollars have been charged with more serious fraud than any criminals using BTC have. Share…

‘Boring’ Bitcoin Hits Multiple Record Highs in a Day

After weeks of uninspired price action, Bitcoin hit new heights today on a variety of metrics: new addresses, active addresses, hourly transaction count and hourly spent outputs. Glassnode CTO Rafael Schultze-Kraft posted on twitter listing the achievements: Quite the on-chain activity on #Bitcoin today – Hourly New Addresses: 2-year highHourly Active Addresses: 1-year highHourly Transaction Count: 10-month highHourly Spent Outputs with Lifespan 24h: All-time high 🔥 pic.twitter.com/QrHExLQAgo — Rafael Schultze-Kraft (@n3ocortex) July 2, 2020 Looking up your address Bitcoin hasn’t seen this number of new or active addresses since the…