is once again sounding the alarm, claiming that the digital asset is in a bear market. Schiff notes that Bitcoin has underperformed dramatically when compared to gold, noting that since its peak almost three years ago, the price of the cryptocurrency hasSchiff gives HODLers a direct message: Bitcoin's ongoing difficulties may indicate that investors are failing to acknowledge the realities of the market.
The pivotal points to keep an eye on are $59,000 below and $64,000 above. Bitcoin may enter even more bearish territory if it breaks below $59,000, but a rise above $64,000 might rekindle optimism for a wider rebound. As the saying goes, time is the best tool to determine who needs you the most, and only time will tell if anyone truly needs Bitcoin. Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future.
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