Get Smarter About Crypto

₿itcoin reached $62,704. -1.08%

♢Ethereum reached $3,043.  -1.37%

What we will talk about today...

🛑 Bitcoin’s Price Changes

🪙 Gold vs Bitcoin According to Peter Schiff

⚡ Norway’s Crypto Mining Stance

Bitcoin’s Price Changes

Bitcoin’s value has been up and down. Here’s what you need to know:

Recent Drop:

• Bitcoin lost about 13.65% after hitting a high.

  

  BTC/USD daily price chart.

Why?:

• Middle East tensions and possible U.S. rate hikes have investors worried.

Predictions:

• Charts suggest Bitcoin might drop more, possibly to $54,650.

  

  BTC/USD daily price chart (zoomed-in).

  

  BTC/USD daily price chart ft. triple top breakdown scenario.

  

  BTC/USD daily price chart ft. Wyckoff Distribution Method.

Investor Mood:

Big investors seem to be buying less, pulling out $150 million recently.

Hopeful Signs:

Some experts predict a rise to $75,000, seeing positive signs in the market.

Bitcoin’s price is hard to predict, but we’ll keep you posted on any new developments.

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Gold vs Bitcoin According to Peter Schiff

Economist Peter Schiff, a gold supporter, shares his views on gold and bitcoin:

Gold’s Rise Amid Currency Devaluation:

• Schiff links the rise in gold prices to the fall of fiat currencies like the dollar, euro, and yen.

• He warns of ongoing inflation and predicts gold prices could double by next year.

• Central banks are major buyers in this bullish gold market.

Bitcoin: A Warning of a Bear Market:

• Schiff warns against investing in bitcoin and bitcoin ETFs, claiming bitcoin is in a bear market.

• He points out a significant drop in bitcoin’s value over the past two and a half years.

• Despite bitcoin’s past success, Schiff sees it as a “huge bubble.”

A Different Perspective:

• Investor Peter Brandt challenges Schiff’s view, highlighting bitcoin’s strong performance since it started.

• Brandt encourages Schiff to look at the bigger picture, while also expressing his faith in gold and acknowledging bitcoin’s accomplishments.

As Schiff continues to doubt bitcoin, the debate between traditional and digital assets continues. We’ll keep you updated on the latest in gold and cryptocurrency markets.

Norway’s Crypto Mining Stance

Norway is taking steps to limit cryptocurrency mining. Here’s a simpler look at what’s happening:

Norway’s Move Against Crypto Mining:

• Norway is planning a law to control data centers and limit crypto mining, which it sees as harmful due to its high carbon emissions.

New Rules for Data Centers:

• The law will require data centers to register and disclose their activities. This transparency will help Norway keep crypto miners out.

Why Crypto Miners Like Norway:

• Cheap energy, especially in the north, attracts crypto miners. But Energy Minister Terje Aasland says Norway wants industries that benefit society more.

Balancing Act:

• Digitalization Minister Karianne Tung wants stricter controls on data centers. Norway is trying to balance economic growth with environmental and social concerns.

Ongoing Efforts:

• Norway has been trying to limit crypto mining for a while, including reversing tax cuts for data centers. It’s part of Norway’s plan to shape its digital future.

As Norway tightens its rules, crypto miners will face more challenges. We’ll keep you updated on this evolving situation.

CAN YOU PREDICT THE PRICE?

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Stay tuned for more twists and turns in the crypto world & Happy Investing🚀💎