Before winning the 2024 presidential election in a landmark victory for the cryptocurrency sector, former president Donald Trump promised to establish a national Bitcoin reserve. As a result, crypto markets have been making big bets on Bitcoin’s price increasing throughout 2025. But Trump hasn’t yet committed the federal government to making any new Bitcoin purchases. His more modest plan is to simply freeze the Bitcoin the government has already seized from those like Ross Ulbricht, who broke the law. So does that mean Schiff is right, and the government won’t be buying Bitcoin, even with Trump in charge? That’s not necessarily so. Wyoming Senator Cynthia Lummis (R-WY) has a more radical proposal for the government in Washington to purchase one million BTC over five years. Accordingly, unless Schiff knows something that markets don’t yet, it is entirely possible that the pro-crypto Republican Congress and White House could send the government on a BTC buying spree in Trump’s second term. Peter Schiff: Govt Won’t Be Buying Bitcoin Once it becomes obvious that the U.S. Govt. won’t be buying #Bitcoin , those who bought hoping to front-run that buying will sell. @saylor will be forced to accelerate his leveraged Bitcoin purchases to prevent a crash. But this will only delay the crash until $MSTR crashes first. — Peter Schiff (@PeterSchiff) January 8, 2025 After MicroStrategy announced its most recent monster purchase of Bitcoin—1,070 BTC for $101 million—the asset’s price surged within an hour. “But this will only delay the crash until $MSTR crashes first,” Schiff added. Lifelong Goldbug ‘Hates’ BTC ‘Speculative Mania’ It’s not that I hate Bitcoin itself. I hate the speculative mania in Bitcoin that has caused a huge misallocation of capital, which will cause millions to lose sums far greater than they can afford, and which will tarnish the image of sound money and libertarian principals. — Peter Schiff (@PeterSchiff) January 8, 2025 In reply to a commenter who asked, “Why do you hate Bitcoin so much, Peter?” the global hedge fund capitalist answered, “It’s not that I hate Bitcoin itself. I hate the speculative mania in Bitcoin that has caused a huge misallocation of capital.” It’s true that there are winners and losers in the volatile cryptocurrency exchange markets and that there are frequently BTC bubbles with steep corrections. But it’s not necessarily a flaw inherent to Bitcoin or to the cryptocurrency’s most vocal supporters. Crypto markets aren’t really different from stocks in this regard. They’re just more extreme because of the liquidity and velocity of these 24-hour-a-day markets, managed by automated Internet trading platforms and open to anyone around the world to participate. Of course, Schiff would be sure to add that he doesn’t like that about stock markets either. The post Peter Schiff: ‘US Govt Won’t Be’ Buying Bitcoin: Is That True? appeared first on CryptoPotato .
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Prominent Analyst il Capo Speaks After the Recent Drop in Bitcoin: Is There Any Need to Worry? What to Expect in Altcoins?
One of the most well-known names in the cryptocurrency market, il Capo of Crypto, evaluated the recent decline in the crypto market led by Bitcoin. As is known, the Bitcoin price fell below $ 92,000 today after a long period. The world`s largest altcoin, which has experienced a slight recovery, is trading at $ 93,900 at the time of writing this article and has reduced its losses in the last 24 hours to 1%. On the other hand, well-known cryptocurrency analyst il Capo said in his message during the decline that the correction was deeper than he expected. The analyst had stated in his previous evaluations that he expected the BTC price to decline to $ 95,000. Related News: BREAKING: Coinbase Futures Announces It Will List 3 New Altcoins However, il Capo claimed that there is no need to worry about the recent decline. The analyst, who stated that there is a strong support and demand area between $90,000 and $92,000, said that many altcoins are also currently in the support area. In his own opinion, the analyst argued that it would be a mistake to panic and sell from here. *This is not investment advice. Continue Reading: Prominent Analyst il Capo Speaks After the Recent Drop in Bitcoin: Is There Any Need to Worry? What to Expect in Altcoins? Crypto Potato
Top Ripple (XRP) Price Predictions Following the Recent Market Crash
TL;DR Analysts project XRP could hit new highs, with forecasts ranging from $4 to $9. However, one market observer envisioned a double-digit crash if the price fails to close above $4 by March 10. New ATH Soon? Ripple’s XRP started 2025 on the right foot, with its price surging to almost $2.50 on January 4. However, the decline witnessed across the broader crypto market in the past few days put the brakes on the rally. XRP briefly plummeted to as low as $2.23 on January 7 and is currently worth approximately $2.27 (per CoinGecko’s data). XRP Price, Source: CoinGecko Nonetheless, many analysts who regularly observe the token’s price performance think a fresh resurgence could be in the cards. For example, the X user with almost 400,000 followers – Crypto Bitlord – urged people to invest in XRP, describing it as “the safest asset in all of crypto.” The Great Matsby also weighed in, expecting the valuation to hit a new all-time high of $9 in the near future . “XRP is so damn bullish that it’s one of the last coins that hasn’t even touched the daily Ichimoku cloud yet,” they said. The daily Ichimoku cloud is a technical analysis tool that helps traders identify trends, potential reversals, and support/resistance levels. It combines several components, including ongoing market trends, momentum, and future projections. Other industry participants chipping in as of late are CRYPTOWZRD and the veteran trader Peter Brandt. The former believes XRP’s pump to $4 is “inevitable,” while the latter suggested that the asset’s market capitalization could surpass a whopping $500 billion. Meanwhile, the XRP army recently got hyped following the meeting between the newly elected US president – Donald Trump – and two of Ripple’s bosses – Brad Garlinghouse and Stuart Alderoty. What the men discussed during dinner remains unknown, but the crypto community was quick to give some interesting suggestions. Some of the speculations include the potential growth of Ripple and the further development of the local cryptocurrency sector. Something for the Bears While the overall sentiment surrounding XRP is quite optimistic, there are some market observers who foresee a potential crash. One person to outline such a thesis is the X user EGRAG CRYPTO. The analyst (who usually makes bullish price predictions for Ripple’s native token) recently opined that it should “finish above $4 with strong confirmation on the weekly chart.” This needs to happen before March 10 , or otherwise , the token might collapse by over 70%. The X user based their forecast on the Lunar eclipse , which is scheduled for that period. EGRAG CRYPTO claimed that the phenomenon has been followed by a crypto market correction in the past. It is worth mentioning that there is no economic basis to suggest that the next Lunar eclipse can cause fluctuations in the sector. The post Top Ripple (XRP) Price Predictions Following the Recent Market Crash appeared first on CryptoPotato . Crypto Potato