Bitcoin (BTC) Critic Peter Schiff Predicts Interest Rates Surge With Twist

Bitcoin (BTC) critic Peter Schiff believes interest rates might still rise, but there's catch $BTC BTC PeterSchiff

He points out that the Fed cannot raise rates high enough to bring inflation back down to 2% without causing a financial crisis worse than the one it caused in 2008. The Fed will therefore give up well before inflation hits 2% .Recently, Bitcoin was trading at about $24,672, only slightly up over the previous day and off a weekly high early on Thursday when BTC crossed the $25,000 threshold for the first time since August.

Despite the mild retreat in price, Bitcoin was still 13% higher than it was seven days earlier. Investors continued to be generally upbeat about the cryptocurrency markets.Instead of going back to the more aggressive rate hikes of 2022, they predict that the Fed will approve a second consecutive 25-basis-point rate hike at its next Federal Open Market Committee meeting in March. Additionally, they anticipate that any economic contraction will be slight — a"safe landing.

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