Biggest Crypto Critic Accidently Predicted Bitcoin Price To Hit $94,000 In Coming Days

The post Biggest Crypto Critic Accidently Predicted Bitcoin Price To Hit $94,000 In Coming Days appeared first on Coinpedia Fintech News

Prominent crypto critic Peter Schiff recently took to X to share his prediction regarding a potential surge in Bitcoin’s price in the upcoming days. Schiff’s comparison of gold’s surge accidentally resulted in a prediction of Bitcoin reaching $94,000. As of now, Bitcoin is trading at $70,023 with a market capitalization of $1.37 trillion.

Gold Surge Ignite Bitcoin’s Hope

Peter Schiff’s tweet comes in response to Bitcoin enthusiasts mocking what they perceive as a modest increase in gold’s price. Despite the seemingly small rise, Schiff points out that gold has seen significant gains in recent days, with a 3% increase over just two days. 

He finds it funny that Bitcoin supporters are mocking gold’s small increase, especially when gold has been doing well lately. He then says that Bitcoin would need to increase by about $23,000 to catch up to gold’s gain of $25. This means Bitcoin will surge to $94,000 from its current price.

Schiff’s comments reignited the debate surrounding the performance and utility of gold vs Bitcoin as stores of value and inflation hedges. 

Community Reaction 

However, Schiff’s remarks received mixed reactions from the crypto community. While some Bitcoin enthusiasts swiftly seized upon Schiff’s comments, interpreting them as a prediction for Bitcoin to hit $94,000 in the future, others were more skeptical. One such user, Chad Steingraber, a crypto enthusiast, echoed this sentiment, suggesting that Bitcoin could reach $100,000 soon.

However, not all responses were favorable. Some users criticized Schiff’s views, stating that “Peter has ALWAYS been wrong about Bitcoin.”

Bitcoin Price Analysis

While Schiff’s comments may have been made in tease, they underscore the significant gains Bitcoin has witnessed in recent times. Bitcoin reached all-time highs of $73,750 on March 14, driven in part by the success of spot Bitcoin exchange-traded funds.

Currently, bitcoin is trading at $69,821, representing a slight drop of 1.15% over the last 24 hours. Despite this decrease, there has been a notable surge in trading volume, reaching $26.37 Billion, marking a significant increase of 50.2%.