Bitcoin Price Prediction as Daily Trading Volume Surges Past $10 Billion – Are Whales Buying Again?
As Bitcoin continues its oscillating dance on the charts, it gives subtle hints of a resurgence. The premier cryptocurrency currently trades at $26,244, marking a nearly 1.25% rise on Thursday.
This surge is juxtaposed against an intriguing backdrop: Economist Peter Schiff has been vociferously warning of a 'Massive Crisis' and a swift departure from the US Dollar.
Adding to the momentum, Brian Armstrong, the CEO of Coinbase, confirmed the platform's integration with the Bitcoin Lightning Network.
Meanwhile, in a significant legal ruling, a Delaware judge has given FTX the nod to sell up to a whopping $100 million worth of coins weekly.
With the daily trading volume now breaching the $10 billion threshold, one is left to wonder: Are the whales re-entering the Bitcoin market?
Prominent economist Peter Schiff has issued a grave warning of an imminent mass exodus from the US dollar, predicting a severe economic crisis.
Schiff, a proponent of gold as a store of value, underscored the inevitability of this crisis due to the continually expanding US budget deficits, which he foresees becoming unsustainable, especially during future recessions.
With the national debt nearing $33 trillion and interest payments on this debt ranking as a top government expense, Schiff anticipates a crisis to arise before these payments become the sole government expenditure.
Schiff mentioned the growing trend of nations, including BRICS members, to decrease their reliance on the U.S. dollar in international trade.
This shift has been attributed to the US. using the dollar as a tool for sanctions. Consequently, nations like China and Saudi Arabia are exploring alternative currencies.
In the cryptocurrency markets, Bitcoin (BTC) is currently
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