Peter Schiff, a prominent financial commentator,claims that the Friday Bitcoin flash crash was a "warning" instead of merely a "buying opportunity."
"Crypto buyers are in for a rude awakening and will soon learn a very valuable but expensive lesson," Schiffsaid.
Bitcoin's uncertain recovery
As reported by U.Today, Bitcoin and U.S. equities plunged sharply lower on Friday due to rapidly worsening trade tensions between the US and China.
Altcoins got absolutely clobbered after the U.S. announced draconian 100% tariffs on Chinese goods. The market witnessed $19 billion worth of liquidations, and Fundstrat's Tom Lee argues that this figure might actually be understated.
Cryptocurrencies then saw a rather sharp recovery after the White House seemingly opened the door to a trade deal with China.
However, they have erased some of these gains once again as trade tensions between the two superpowerscontinue to simmer.
Bitcoin dipped to an intraday low of $113,030 earlier today, according to CoinGecko data.
Both stocks and crypto remain extremely sensitive to the latest headlines.
Gold's new peak
In the meantime, the price of gold recently reached a new peak above the $4,100 level.
According to Schiff, gold's massive surge is exposing the "fiction" that Bitcoin is actually "digital gold."
"The bottom can drop out of Bitcoin at any time," the gold bug warned.
The odds of Bitcoin outperforming Bitcoin this year appear to be extremely slim given that "Uptober" has so far been extremely lackluster.
It's a genuine project.......... amongst all scam projects 😂😂
The Zaernyx
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The price of any token can have a slight difference between DEX and CEX, but this difference should never be beyond imagination. For example, $COAI token’s high price on DEX is $61, while on CEX it’s only $16 - clearly, $COAI is a scam token.
Binance Founder CZ just commented on a circulating image and he’s setting the record straight:
🚨“This is not a real photo. The AI + Photoshop tech is crazy right now. Don’t believe every ‘photo’ you see.” 🙏
In an era where AI-generated content spreads faster than facts, CZ’s reminder hits hard. Even the biggest names in crypto aren’t immune to digital manipulation and this one had the community talking.
⚠️ Always verify before you share. The new battleground isn’t just price action it’s perception.
Decided to short $ASTER , mainly considering these points: 1. There are many similar competing products, such as Hyper, dYdX, Kraken, etc. 2. The reason Binance can become the leader in CEX is due to policy support. However, to become a leader in the DEX field, it is essential to have a good product and reputation; merely shouting slogans won't work. 3. The data for ASTER is ridiculous; let me show you two pictures for you to feel. ASTER's total trading volume is 2T (how long has it been since it went live?), while Hyper had a total trading volume of only 2T in the past three weeks. At the same time, ASTER claims to have 3 million users, while Hyper only has 730,000? It's laughable; if ASTER is so dominant over Hyper, why isn't its market cap skyrocketing? Is it really undervalued? Even if ASTER dominates Hyper, with a market cap increasing tenfold, and the coin price rising from $2 to $20, I can accept that. 4. DeFiLlama also doubts the authenticity of ASTER, and with a recent KOL promoting ASTER, I believe the likelihood of ASTER having issues is greater. 5. I still don't understand what CZ wants with promoting ASTER; if he's being threatened, he can just speak up.