News 6 for TradingView (Revised)
Summary
- Peter Schiff said he sees a potential short-term pullback, linking President Donald Trump’s State of the Union address to Bitcoin’s recent surge.
- He said that if Bitcoin is not mentioned at all in the State of the Union, expectations already priced in could lead to selling and profit-taking.
- He also argued that even if Bitcoin is mentioned in the State of the Union, declines could follow as Trump insiders may sell the news.
Forecast Trend Report by Period
Peter Schiff, a prominent Bitcoin skeptic, linked President Donald Trump’s State of the Union (SOTU) address to Bitcoin’s price action, raising the possibility of a short-term decline.
On the 25th, Schiff wrote on X (formerly Twitter), “Bitcoin just surged,” suggesting that recent gains may have been driven by political expectations. He speculated that pro-crypto figures in Trump’s camp may have pushed to include Bitcoin-related content in the speech.
He said, “If Bitcoin isn’t mentioned at all in the State of the Union, I expect selling to emerge,” arguing that with expectations already priced in, a lack of fresh catalysts could trigger profit-taking.
He also suggested that even if Bitcoin is mentioned, prices could fall rather than extend gains. He claimed that “Trump insiders who bought ahead of the speech may move to ‘sell the news.’”
nineteen
nineteen@bloomingbit.ioHello, I'm a reporter at bloomingbit
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