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A sudden 14% drop in silver prices has sparked a heated debate in the financial world, drawing an unexpected comparison to Bitcoinâs recent 30% correction. According to finance expert Shanaka Anslem Perera, the mechanics behind both crashes are eerily similar, raising questions about how market behavior is evaluated across different assets.
Silverâs sharp decline from $84 to $72 in just over an hour was triggered by margin hikes at CME, which led to forced liquidations and wiped out billions in leveraged positions. Peter Schiff, a prominent Bitcoin critic, quickly responded, declaring that silver stocks are now a great buying opportunity due to the correction. However, Perera challenged this perspective, pointing out the double standard when it comes to Bitcoin.
Perera noted that Bitcoinâs recent decline was caused by the same factors leverage, margin calls, and forced liquidations that impacted silver. Yet while silverâs plunge is seen as a buying opportunity, Schiff labeled Bitcoinâs correction a âscamâ and predicted it would âgo to zero.â Perera questioned why such similar market dynamics lead to drastically different conclusions in Schiffâs analysis.
Also Read: Japanâs Crypto Tax Cut Could Trigger a Massive Shift in Investor Behavior
Perera didnât stop at calling out Schiffâs inconsistent views. He pointed to Schiffâs long history of Bitcoin criticism, from calling it a âfraudâ when it was priced at $5, to labeling it âtulip maniaâ at $1,000, and dismissing it as âtoo expensiveâ when it hit $3,800. Perera also highlighted Schiffâs curious incentives Schiff Gold, Schiffâs company, accepts Bitcoin payments, and Schiffâs son owns Bitcoin.
According to Perera, this raises the question of whether Schiffâs anti-Bitcoin rhetoric is more about marketing and engagement than genuine belief. He suggested that Schiffâs criticisms fuel visibility and attention, making them more about personal promotion than financial analysis.
The broader crypto community has reacted strongly to Pereraâs critique. Many pointed out that the outrage Schiff generates around Bitcoin is likely a strategic move to boost his own visibility. One user noted that Bitcoin itself isnât the target of Schiffâs criticism; rather, itâs the attention the debate generates that fuels the ongoing conversation.
As the debate continues, Pereraâs challenge to apply consistent market principles to both silver and Bitcoin has sparked new discussions about the role of leverage and margin calls in driving price corrections. The question remains whether Schiffâs views on Bitcoin will evolve or if this debate will persist, fueled by both financial mechanics and strategic incentives.
Also Read: Analyst: XRP Symbolic â589â Target Is Heading to the Highest Level, Hereâs Why
The post Crypto Debate Ignited as Silver Crash Mirrors Bitcoinâs 30% Drop â Hereâs Why! appeared first on 36Crypto.
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