Market analyst Peter Schiff predicts a market downturn, including crashes for gold, silver, and bitcoin.
Kiyosaki remains bullish, outlook fueled by a potential Trump re-election and economic policies.
The market is currently volatile, with Ethereum ETFs impacting cryptocurrency prices and the overall economic climate influencing investor sentiment.
Popular market analyst Peter Schiff
Peter Schiff Peter David Schiff is an American stockbroker, financial commentator, and radio personality. He co-founded Echelon Wealth Partners in Canada. He is involved in other financial firms including Euro Pacific Asset Management, as an independent investment advisor and Schiff Gold. He was on born March 23, 1963, in a Jewish family. Schiff started his career as a stockbroker at a Shearson Lehman Brothers brokerage in the early 1990s. In 2008 Schiff was an economic adviser to Ron Paul's presidential campaign. Before the financial crisis hit, Schiff frequently appeared on CNBC, Fox News, and Bloomberg to voice his opinions on the US economy and financial markets. Crypto and Blockchain Expert has expressed concerns about gold, silver, bitcoin, and the U.S. economy, especially if Donald Trump
Donald Trump
Donald J. Trump is a US-based entrepreneur, Pro-crypto Politician, and the 45th and 47th President of the United States of America. He understands the importance and needs of the modern fintech world, and people look up to him as a dominant pro-crypto leader.
Quick Facts
Full name Donald John Trump Birth 14-06-1946, New York, United States Nationality American Education BS from the University of Pennsylvania Known For Businessman, Pro-Crypto Politician
Once doubtful about Bitcoindominance, he said in a tweet in 2019, “I am not a fan of Bitcoin", but now has a significant amount of cryptocurrency holdings in his kitty. He has also signed an Executive Order to establish a Strategic Bitcoin Reserve, which highlights his commitment to the future of cryptocurrency.
Donald Trump - Career Highlights & Events
2016 – Elected as the 45th President of the United States from the Republican Party. 2017 – Signed the Tax Cuts and Jobs Act, impacting investment environments 2019 – Criticized Bitcoin and Libra on X, dubbing them as "not money" 2024 – Campaign signals potential openness to crypto-friendly reforms 2025 – Elected as the 47th President of the United States from the Republican Party.
A meme coin, $TRUMP, is associated with Donald Trump, which is listed on the Solana blockchain platform. His family also backs World Liberty Financial (WLF), a crypto venture.
President is re-elected. Schiff predicts market crashes for gold, silver, and bitcoin and a harsh landing for the recently announced Ethereum (ETH) ETFs due to a weaker dollar and rising oil costs.
Bigger Market Crash Incoming?
In a series of tweets, Schiff highlighted the immediate negative impacts on cryptocurrencies following the introduction of eight Ethereum ETFs. He observed a dramatic drop in Ether, which fell by over 7% in the past 24 hours, while Bitcoin decreased by 2% in the same period. Schiff views this as the beginning of a potential crypto downturn, coinciding with the upcoming Nashville Bitcoin conference.
He also warns that Ethereum ETFs will negatively impact Bitcoin, as investors may shift their funds. Bloombergโs senior ETF analyst, Eric Balchunas, reported the quick rise in interest for Ether ETFs, with $461 million traded in the first 90 minutes, which supports Schiffโs concerns and indicates a potential shift away from BTC.
Hard Landing for Gold, Silver, and Financial Market
Moving on, Schiffโs concerns went beyond cryptocurrencies to the broader financial market. He notes that gold and silver also face sell-offs, signaling a tough market ahead. This trend affects the newly launched ETH ETFs and hints at wider market trouble. Stocks are declining, safe-haven currencies like the yen and Swiss franc are gaining, and commodity currencies like the Australian dollar are dropping.
The Outlook? Bearish.
Schiff has been critical of Bitcoin, predicting that its bear market isnโt finished and that Ethereum could fall to $1,500. He also stated in April that the interest in Bitcoin is fading.
On the other hand, Kiyosaki believes that gold, silver, and bitcoin prices will rise, predicting gold will hit $3,300 an ounce and bitcoin could reach $105,000 by 2025. He thinks Trumpโs support for a weaker dollar and expanded oil drilling will boost these assets.
The Fed Dilemma
Schiff questions whether the Federal Reserve will let the downturn persist or intervene to avert a major stock market crash, financial crisis, and recession before the election. He emphasizes that the Fedโs actions will significantly influence the marketโs trajectory. If the Fed does not soon cut rates and return to quantitative easing (QE), Schiff warns of a possible recession beginning with a stock market crash.
What Next?
Ethereum ETFs have quickly influenced the market, with experts suggesting theyโll boost ETH prices but no more than Bitcoin ETFs. Investors might use a 70/30 BTC to ETH split for diversification. However, Despite Ethereumโs rise, Bitcoinโs future is uncertain, with rumors of Trump endorsing Bitcoin adding interest.
Bitcoin is down 2% to $66K, and Ethereum has dipped 1.4% to $3,412, indicating cautious market sentiment.
Is this the beginning of a market meltdown, or a golden opportunity? You decide.