On a most curious day, reminiscent of a bygone era when the wise and the foolish often sounded indistinguishably alike, the wily Peter Schiff, whose prognostications bore the whiff of past invective, again rose to regale the salons of modern finance. With an air of dramatic anticipation, he urged those ensnared in the digital web of Bitcoin to divest of their holdings, now valorized beyond the formidable mark of one hundred thousand dollars, deeming such an act an “incredible” opportunity.
“If you, dear possessors of Bitcoin, yearn for a modicum of prudence, hasten your sale whilst the glittering coin yet blooms above the threshold of a hundred thousand,” pronounced Schiff with the confidence reminiscent of an oracle displeased with the fate he foretold. Earlier in the month, as if engaged in a litany of doom, he proclaimed Bitcoin to be “ridiculously overpriced.”
“Cryptos are melting”
In a rare commingling of opinion with our esteemed Mr. Schiff, Mike McGlone, hailing from the analytical halls of Bloomberg, envisioned Bitcoin’s lofty perch as insubstantial as the morning mist, predicting a swift departure from the hundred thousand threshold. With a keen eye, this prognosticator, once a herald of Bitcoin’s rise now its foil, noted the melancholic decline of the Bloomberg Galaxy Crypto Index by one percent in the year 2025-a feeble performance when shadowed by the S&P 500’s robust sixteen percent rise.
Not for long in my view, Bitcoin above $100,000. The first-born crypto opened Monday Nov. 3 US am below its 200-day moving average (now resistance at about $110,000). Bitcoin may open Monday Nov. 10 below $100,000. Strategy Inc. has broken down and the Bloomberg Galaxy Crypto…
– Mike McGlone (@mikemcglone11) November 8, 2025
A sign of bullish reversal?
In the midst of these forecasts, the perspicacious founder of Kynikos Associates, James Chanos, kindled curiosity by unveiling the dissolution of his judicious play-short on Strategy and long on Bitcoin-commencing with the market’s open on the preceding day.
As we have received some inquisitive missives, I can affirm that we have unwound our $MSTR/Bitcoin hedged trade as of yesterday’s open.
– James Chanos (@RealJimChanos) November 8, 2025
“Remember,” so Chanos declared on a sunlit May fifteenth, “the supposed eminence of the grand Bitcoin treasury firm stands precariously against the stark reality of its gold-backed value.” By June’s midsummer complaints, he affixed the dubious honor of promoting “financial gibberish” upon Michael Saylor, erstwhile chief of Strategy, with the fervor of a preacher to his congregation.
Yet, let posterity record that Chanos’s prescience bore fruit as the once illustrious MSTR lay in disrepair, plummeting by roughly forty-five percent, its exalted market price devolving into a mere mirage of its Net Asset Value. At this juncture, Bitcoin evangelist Pierre Rochard, observing with the reflective calm of seer to the stars, divulged a notion provocative in conception-a sign that the twilight of the bear, so long lingering over the treasury company, might indeed wane.
“Expect esurient volatility,” Rochard cautions with the gravity of a statesman amidst revolution, “but such signals herald the potential for a revered reversal.”
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2025-11-09 12:08