{"id":12277,"date":"2024-04-04T14:16:42","date_gmt":"2024-04-04T11:16:42","guid":{"rendered":"https:\/\/forklog.com\/en\/gold-enthusiasts-seize-on-bitcoins-correction\/"},"modified":"2024-04-04T14:16:42","modified_gmt":"2024-04-04T11:16:42","slug":"gold-enthusiasts-seize-on-bitcoins-correction","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/gold-enthusiasts-seize-on-bitcoins-correction\/","title":{"rendered":"Gold Enthusiasts Seize on Bitcoin&#8217;s Correction"},"content":{"rendered":"<p>The price of gold has reached a new all-time high, providing gold enthusiasts with fresh ammunition to criticize the leading cryptocurrency amid its recent correction.<\/p>\n<p>According to <a href=\"https:\/\/www.americanhartfordgold.com\/gold-price-charts\/\">data<\/a> from American Hartford Gold Group, as of April 4, gold prices have nearly hit $2300 per troy ounce, with growth accelerating since mid-February.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Untitled-1-38.webp\" alt=\"Untitled-1-38\" class=\"wp-image-229983\"\/><figcaption class=\"wp-element-caption\">Data: American Hartford Gold Group.<\/figcaption><\/figure>\n<p>Peter Schiff, President of Euro Pacific Capital, noted that since the start of the second quarter, gold has risen by 8.7%, silver by 3.4%, while Bitcoin has fallen by 7%.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">So far in Q2 2024 here are the results:<a href=\"https:\/\/twitter.com\/hashtag\/Silver?src=hash&#038;ref_src=twsrc%5Etfw\">#Silver<\/a> up 8.7%<a href=\"https:\/\/twitter.com\/hashtag\/Gold?src=hash&#038;ref_src=twsrc%5Etfw\">#Gold<\/a> up 3.4%<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> down 7%<\/p>\n<p>The results speak for themselves.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1775615645373038959?ref_src=twsrc%5Etfw\">April 3, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In response to the reasonable objection that the period had only begun three days prior, he predicted further growth for metals, suggesting that things would only worsen for the leading cryptocurrency.<\/p>\n<p>In another <a href=\"https:\/\/twitter.com\/itsbottomg\/status\/1775617117435441626\">comment<\/a>, Schiff was reminded of asset growth figures since the beginning of the year: gold at 12%, silver at 13%, and Bitcoin at 52%. Another user provided even more compelling five-year figures: 78%, 79%, and 1500% respectively.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Attention Bitcoin <a href=\"https:\/\/twitter.com\/hashtag\/HODLers?src=hash&#038;ref_src=twsrc%5Etfw\">#HODLers<\/a>. This may be your last change to sell your <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> and buy some <a href=\"https:\/\/twitter.com\/hashtag\/gold?src=hash&#038;ref_src=twsrc%5Etfw\">#gold<\/a> and <a href=\"https:\/\/twitter.com\/hashtag\/silver?src=hash&#038;ref_src=twsrc%5Etfw\">#silver<\/a> at favorable prices. If you fail to act, have fun staying poor. <a href=\"https:\/\/t.co\/Y2JnEac7dr\">https:\/\/t.co\/Y2JnEac7dr<\/a><\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1775681628150419626?ref_src=twsrc%5Etfw\">April 4, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAttention Bitcoin HODLers. This may be your last chance to sell your coins and buy some gold and silver at favorable prices. If you remain inactive, enjoy staying poor,\u201d urged the well-known cryptocurrency critic.<\/p>\n<\/blockquote>\n<p>An investor known as Quasar wryly responded that he doesn&#8217;t have another 60 years to wait for precious metals to rise by the next $1500. Schiff suggested it might take 60 days.<\/p>\n<p>ByteTree analyst Charlie Morris <a href=\"https:\/\/twitter.com\/AtlasPulse\/status\/1775635399806730254\">criticized<\/a> Bitcoin from an environmental perspective, stating that gold reached its peak &#8220;without consuming electricity.&#8221; Previously, Bloomberg noted that in February, the cryptocurrency&#8217;s blockchain consumed <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-miners-set-record-energy-consumption-in-february\">a record 19.6 GW<\/a>.<\/p>\n<p>Daniel Batten, managing partner at CH4 Capital, <a href=\"https:\/\/twitter.com\/DSBatten\/status\/1775690331826319722\">offered<\/a> his counterarguments:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe energy required for gold mining primarily comes from fossil fuels, thus having a much greater environmental impact and emission intensity than Bitcoin mining, which is fully electrified and leaves no mercury or arsenic in the local soil,\u201d the expert pointed out.<\/p>\n<\/blockquote>\n<p>Swan Bitcoin co-founder Brady Swenson joined the discussion, confirming that he was left with &#8220;apocalyptic&#8221; impressions after visiting a gold mine.<\/p>\n<p>In March, the debate over the environmental impact of cryptocurrency mining intensified following a Greenpeace report, which was <a href=\"https:\/\/u1f987.com\/en\/news\/greenpeace-report-on-bitcoin-mining-faces-industry-backlash\">sharply criticized<\/a> by industry experts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of gold has reached a new all-time high, providing gold enthusiasts with fresh ammunition to criticize the leading cryptocurrency amid its recent correction. According to data from American Hartford Gold Group, as of April 4, gold prices have nearly hit $2300 per troy ounce, with growth accelerating since mid-February. Data: American Hartford Gold [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1259,536,1138,1298],"class_list":["post-12277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ecology","tag-gold","tag-opinions","tag-peter-schiff"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=12277"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12277\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/12276"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=12277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=12277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=12277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}