NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence

Bitcoin At A Crossroads? Economist’s Doom Prediction Clashes With Spot ETF Approval Hopes

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
Bitcoin At A Crossroads?

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

As the world of crypto braces for a potential regulatory nod from the US Securities and Exchange Commission (SEC) in favor of a Bitcoin spot exchange-traded fund (ETF), Peter Schiff, a notable crypto critic, has voiced a dissenting opinion.

Schiff projected a grim future for Bitcoin, especially in the event of a spot ETF approval. His comments come at a time when the crypto community is abuzz with expectations of a boost in institutional investor interest in Bitcoin.

Related Reading

Bitcoin (BTC)

CryptoQuant Sound Alarm: Spot Bitcoin ETF Approval May Trigger Drop To $32,000, Here’s Why

1 year ago

Economist Spells Gloom For Bitcoin

In a recent post on X, Schiff expressed his skepticism, suggesting that the speculative buzz around the US.-listed ETF directly investing in Bitcoin has been “inflating” the crypto’s value.

Bitcoin (BTC) price chart on TradingView
Bitcoin (BTC) price is moving sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com

This view aligns with Bitcoin’s price trend, which saw an uptick in late last year, following a false report about the approval of BlackRock’s pending spot ETF application. While crypto enthusiasts view the potential spot ETF approval as a gateway for traditional investors into the crypto market, Schiff’s outlook starkly contrasts this sentiment.

Be careful what you wish for. The promise of a U.S. listed spot #BitcoinETF has been supporting the #Bitcoin price and speculative demand for years. Once the ETFs are launched and the highly anticipated institutional and other new investor demand does not show up, look out below!

— Peter Schiff (@PeterSchiff) January 2, 2024

Community Clashes With Schiff’s Pessimism

Peter Schiff’s statements have not gone unchallenged in the crypto community. On X, his posts have attracted critical responses, with users questioning the basis of his bearish predictions. One X user, known as Bloxpert, directly asked Schiff for examples of ETF launches that led to bearish outcomes.

Schiff, in response, questioned the necessity of a Bitcoin ETF, arguing that since Bitcoin can be bought and stored independently, an ETF seems redundant. He implicitly downplayed the need for such financial products in the crypto space, concluding: “You might as well just own a gold ETF.”

Well there is really no need for a Bitcoin ETF, as you can buy and store Bitcoin yourself for free. What’s the point of owning it in an ETF anyway? You might as well just own a gold ETF.

— Peter Schiff (@PeterSchiff) January 2, 2024

Despite Schiff’s bearish outlook, a significant portion of the crypto community and many experts remain optimistic. For instance, James Butterfill, head of research at CoinShares, sees the approval of a spot Bitcoin ETF in the US as a transformative event for the digital asset market.

Related Reading

Bitcoin (BTC)

Bitcoin’s 2024 Forecast: From $60,000 To $500,000, Top Experts Share Bold Predictions

1 year ago

Butterfill suggests that an investment increase of 20% from current assets under management could push Bitcoin prices to around $80,000. Such predictions stand in stark contrast to Schiff’s views, reflecting the diverse opinions and expectations surrounding Bitcoin’s future in the wake of potential regulatory changes.

Featured image from Unsplash, Chart from TradingView

Tweet123Share196ShareSend
Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

イーサリアムの大型アップグレードで再注目、今選ぶべき仮想通貨 おすすめとは?

イーサリアムの大型アップグレードで再注目、今選ぶべき仮想通貨 おすすめとは?

イーサリアムの復活:長年の停滞を経て注目再燃 イーサリアム(Ethereum)は、アルトコインの代表格として知られています。長期間、ビットコインの陰に隠れ、苦戦を強いられてきました。 2021年12月...

Yohei Hanazato 55 minutes ago
新しい仮想通貨が注目集める:Solanaが145ドルに回復、レイヤー2プレセールの未来とは?

新しい仮想通貨が注目集める:Solanaが145ドルに回復、レイヤー2プレセールの未来とは?

暗号資産市場は数か月間で激しい変動を経験した。ようやく回復の兆しを見せている。世界の暗号資産市場の時価総額は3.06兆ドルに達し、24時間で2.54%上昇した。 CoinMarketCapによると、S...

Yohei Hanazato 1 hour ago
Steak 'N Shake to Accept Bitcoin Payments in the US, Sending New Crypto to Explosive Highs

Steak ‘N Shake to Accept Bitcoin Payments in the US, Sending New Crypto to Explosive Highs

In what could be a historic move for cryptocurrency in the retail industry, Steak ‘n Shake, the popular American fast...

NewsBTC 1 hour ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

4 legjobb altcoin, amit most érdemes megvenni: Solaxy, BTC Bull, Best Wallet Token és MIND Of Pepe

News BTC 23 minutes ago
Bitcoin

Bitcoin’s Grip Loosens: Market Expert Says Dominance Has Hit Its Ceiling

Christian Encila 36 minutes ago
仮想通貨 プレセール注目:EOSがVaultaスワップで急騰、新興プロジェクトにも追い風

仮想通貨 プレセール注目:EOSがVaultaスワップで急騰、新興プロジェクトにも追い風

Yohei Hanazato 37 minutes ago

Premium Sponsors

Top Brands

Press Releases

  • From Zero to $100K: How Average XRP Investors Are Making...

    2 hours ago
  • Analysis of The Top 7 Cloud Mining Sites in 2025; Earn Over...

    2 hours ago
  • Launch Your Bitcoin Miner with Dogecoin (DOGE) and Make Up...

    4 hours ago
  • BTC surged by $100,000 and its market value exceeded $2...

    7 hours ago
  • 2025 Ripple Whales Are Quietly Betting Big on This Cloud...

    15 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.