{"id":185627,"date":"2021-02-22T12:28:44","date_gmt":"2021-02-22T09:28:44","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/did-50k-trigger-peter-schiff-to-buy-btc-5-things-to-watch-in-bitcoin-this-week\/"},"modified":"2021-02-22T12:28:44","modified_gmt":"2021-02-22T09:28:44","slug":"did-50k-trigger-peter-schiff-to-buy-btc-5-things-to-watch-in-bitcoin-this-week","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/did-50k-trigger-peter-schiff-to-buy-btc-5-things-to-watch-in-bitcoin-this-week\/","title":{"rendered":"# Did $50K &#8216;trigger&#8217; Peter Schiff to buy BTC? 5 Things to watch in Bitcoin this week"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3fbfb2664cf\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3fbfb2664cf\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/did-50k-trigger-peter-schiff-to-buy-btc-5-things-to-watch-in-bitcoin-this-week\/#Investor_eyes_stock_market_%E2%80%9Creset%E2%80%9D\" >Investor eyes stock market &#8220;reset&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/did-50k-trigger-peter-schiff-to-buy-btc-5-things-to-watch-in-bitcoin-this-week\/#Dollar_strength_doom\" >Dollar strength doom<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/did-50k-trigger-peter-schiff-to-buy-btc-5-things-to-watch-in-bitcoin-this-week\/#Inflows_carry_whale_sell-off_warning\" >Inflows carry whale sell-off warning<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/did-50k-trigger-peter-schiff-to-buy-btc-5-things-to-watch-in-bitcoin-this-week\/#Altcoins_could_soon_step_up\" >Altcoins could soon step up<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/did-50k-trigger-peter-schiff-to-buy-btc-5-things-to-watch-in-bitcoin-this-week\/#Peter_Schiff_and_Bitcoin_%E2%80%9CIf_he_buys_Im_out%E2%80%9D\" >Peter Schiff and Bitcoin: &#8220;If he buys, I&#8217;m out&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Did $50K &#8216;trigger&#8217; Peter Schiff to buy BTC? 5 Things to watch in Bitcoin this week <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) hit a new high over the weekend in the latest episode of its spectacular 2021 bull run \u2014 what\u2019s next for hodlers?<\/p>\n<p>As the largest cryptocurrency <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roaches $60,000, Cointelegraph takes a look at the factors to consider when forecasting this week\u2019s price action.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/ea45fa65-1441-412d-a28a-058608a248f4.png\"><figcaption style=\"text-align: center;\"><em>BTC price vs. DXY (orange). Source: Tradingview<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Investor_eyes_stock_market_%E2%80%9Creset%E2%80%9D\"><\/span>Investor eyes stock market &#8220;reset&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Equities showed no signs of flipping their endless upside on Monday, as buyers continued to pour in to the market.<\/p>\n<p>Despite warnings that a bubble may already be about to burst, markets built on all-time highs as anticipation of an economic recovery worldwide stoked enthusiasm. <\/p>\n<p>In the United States, it was hope surrounding President Joe Biden\u2019s $1.9 trillion coronavirus stimulus package that was still providing the basis for growth. Last week, Treasury Secretary Janet Yellen suggested that the mechanism for the money, which would include a third round of stimulus checks worth $1,400, would be finalized by Congress within the next few weeks.<\/p>\n<p>\u201cEverybody is playing out the outlook for better economic growth, the outlook for more fiscal stimulus,\u201d Adrian Zuercher, head of global asset allocation at UBS Wealth Management, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-02-21\/asian-stocks-set-for-muted-open-currencies-steady-markets-wrap\">told<\/a> Bloomberg. <\/p>\n<blockquote><p>\u201cIt\u2019s normal that nominal yields are trending higher, equities are also trading high, and also commodities based on a better economic outlook.\u201d<\/p><\/blockquote>\n<p>While Bitcoin has exploded in line with stocks since the crash of March 2020, not everyone was so optimistic. <\/p>\n<p>In fresh comments on Monday, investor and hedge fund manager Michael J. Burry delivered an onerous forecast for the global economy, claiming that a major correction in equity markets was due.<\/p>\n<p>\u201cPeople say I didn&#8217;t warn last time. I did, but no one listened. So I warn this time. And still, no one listens. But I will have proof I warned,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363627735583629312\">tweeted<\/a>.<\/p>\n<p>Speaking to CNBC, Ark Invest founder, CIO and CEO Cathie Wood <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?&amp;v=atjQcRXX-NI\">added<\/a> that a \u201cvaluation reset\u201d would likely be the result of a continued sharp increase in rates.<\/p>\n<p>With no specific timeframe in mind, the risk was clearly being felt for this March to repeat last March, something which ultimately allowed both Bitcoin and Ether (ETH) to outperform.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/1c3c37ab-ef17-45c9-a582-d5f0db8cb9d8.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin macro correlations chart. Source: Digital Assets Data<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Dollar_strength_doom\"><\/span>Dollar strength doom<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Any short-term continuation for Bitcoin, meanwhile, could be tempered by middling behavior of the U.S. dollar currency index (DXY), which bounced off lows in recent days. <\/p>\n<p>Traditionally, a recovery in DXY spells downward pressure for BTC\/USD, and the index spent most of February falling. <\/p>\n<p>As Cointelegraph reported, long-term forecasts still see the dollar weakening overall in time, thanks in no small part to the huge expansion of the money supply by the Federal Reserve.<\/p>\n<p>\u201cThere\u2019s a lot more downside for the dollar, and our longer-term perspective is for dollar weakness, not for dollar strength,\u201d Standard Chartered research lead Steve Englander <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/article\/us-forex-poll-dollar-poll-idUSKBN2A500V\" data-amp=\"https:\/\/mobile-reuters-com.cdn.ampproject.org\/c\/s\/mobile.reuters.com\/article\/amp\/idUSKBN2A500V\">told<\/a> Reuters at the start of February.<\/p>\n<p>An accompanying poll revealed that only 13% of participants panned for a USD increase in three months\u2019 time, with the vast majority expecting a loss or stagnation in value.<\/p>\n<p>\u201cA lot of the exceptionalism of the dollar has to do with its scarcity,\u201d Englander added. <\/p>\n<blockquote><p>\u201cThe prospect now is that there will be no scarcity of dollars and in fact there will be an abundance as far as the eye can see.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/49228783-0225-41cf-b91f-b1733f7bb79d.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar currency index (DXY) 1-day candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Inflows_carry_whale_sell-off_warning\"><\/span>Inflows carry whale sell-off warning<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>For Bitcoin, signs of a possible pullback came in the form of a spike in exchange inflows on Monday.<\/p>\n<p>As noted by on-chain monitoring resource CryptoQuant, institutional-focused Gemini saw giant aggregated inflows of 28,004 BTC ($1.63 billion), suggesting that a major investor plans to either sell or have funds ready for sale should prices drop.<\/p>\n<p>\u201cBe careful downside risk from whale dumping,\u201d CryptoQuant added in comments to Telegram subscribers.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/e017681c-e10e-4516-a95f-46552366022f.jpg\"><figcaption style=\"text-align: center;\"><em>BTC exchange inflows vs. BTC\/USD. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>Last week, Cointelegraph reported that stablecoin balances on exchanges had hit all-time highs, something which accompanied BTC\/USD reaching a new record of its own \u2014 $58,312 on Bitstamp. This was while the so-called Coinbase premium \u2014 the difference in price between Coinbase and Binance \u2014 was negative.<\/p>\n<p>For CryptoQuant CEO Ki Young Ju, the nature of the gains was cause for concern despite the resulting euphoria.<\/p>\n<p>\u201cOne thing that makes me uncomfortable about this $BTC surge is a negative Coinbase premium,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1362707677357379587\">tweeted<\/a>. <\/p>\n<blockquote><p>\u201cBuying power seems not to come from US institutional investors, but stablecoin whales and retail investors. Not a healthy bull without USD spot inflows.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Altcoins_could_soon_step_up\"><\/span>Altcoins could soon step up<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Should Bitcoin retrace, expectations are that altcoins could once again move into the spotlight this week. <\/p>\n<p>The weekend produced mixed results for major cap tokens, with some gains while others stagnated. On Monday, Bitcoin\u2019s uncertain behavior came as the largest altcoin Ether had already lost 2% in 24 hours after hitting $2,000 for the first time. <\/p>\n<p>Polkadot (DOT), Cardano (ADA) and Chainlink (LINK) were also negative on the day, while XRP put in a surprise move to climb 14% to near $0.60.<\/p>\n<p>\u201cMoney is flowing into #Bitcoin right now,\u201d popular trader Rekt Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1361997571158380544\">told<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers last week. <\/p>\n<blockquote><p>\u201cBut given how Altcoins are in the very early stages of their macro Bull Market &#8211; rest assured&#8230; Altcoins will be back.\u201d<\/p><\/blockquote>\n<p>Bitcoin\u2019s market cap increased slightly on Monday to 61.4%.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/1f5d484f-2799-4c0f-9c3e-b5488884d1ab.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin market cap dominance 3-month chart. Source: CoinMarketCap<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Peter_Schiff_and_Bitcoin_%E2%80%9CIf_he_buys_Im_out%E2%80%9D\"><\/span>Peter Schiff and Bitcoin: &#8220;If he buys, I&#8217;m out&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>It may be time for Bitcoin bulls to get out while they can \u2014 because one of the cryptocurrency\u2019s biggest critics might buy a large amount. <\/p>\n<p>In a decidedly cryptic tweet over the weekend, gold bug Peter Schiff queried at what point he should look to sell any BTC he might purchase.<\/p>\n<p>\u201cIf I were to actually buy some #Bitcoin, how would I know when to sell? If your answer is to never sell, then what is the point of buying in the first place?\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1363567495332966401\">asked<\/a>.<\/p>\n<blockquote><p>\u201cI can&#8217;t exchange it, as merchants don&#8217;t take it. I need to sell it first, either myself or using an intermediary like Bitpay. But I&#8217;m not talking about small amounts. When do I sell to take profits or cut my losses?\u201d<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<p>Schiff has dabbled in Bitcoin before, complaining about losing his wallet password, but has made a name for himself by shaming its economic basis and promoting gold as the only option to avoid fiat money inflation. <\/p>\n<p>Interest in hodling therefore, real or not, put the wind up the trading community, who viewed it as a classic sign of a bull market getting out of control.<\/p>\n<p>\u201cSlowly then all at once. If he buys, I\u2019m out,\u201d cryptocurrency trader Scott Melker <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/scottmelker\/status\/1363568725669068806\">responded<\/a>.<\/p>\n<p>As Cointelegraph reported last year, Bitcoin hitting $50,000 might indeed be the event that \u201ctriggers\u201d Schiff to invest.<\/p>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/did-50k-trigger-peter-schiff-to-buy-btc-5-things-to-watch-in-bitcoin-this-week\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Did $50K &#8216;trigger&#8217; Peter Schiff to buy BTC? 5 Things to watch in Bitcoin this week &#8221; Bitcoin (BTC) hit a new high over the weekend in the latest episode of its spectacular 2021 bull run \u2014 what\u2019s next for hodlers? As the largest cryptocurrency approaches $60,000, Cointelegraph takes a look at the factors&#8230;<\/p>\n","protected":false},"author":1,"featured_media":185628,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvNDhhYzgwMjYtZjEyOS00YzY0LThiNTktYjk3YzFlZmE1MjBkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,75022,76252,70550,73785,70359],"class_list":["post-185627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-central-bank","tag-peter-schiff","tag-federal-reserve","tag-markets","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/185627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=185627"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/185627\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/185628"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=185627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=185627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=185627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}