Gold advocate and cryptocurrency critic Peter Schiff recently said that despite the rising odds of Trump winning the 2024 US election, Bitcoin has not followed the upward momentum of other Trump-related assets such as stocks and real estate.
He wrote: "Trump-related transactions are ongoing, but Bitcoin is the only Trump asset that has not risen. It is generally believed that Trump's victory is good for Bitcoin. So why didn't Bitcoin rise with the probability of betting on Trump's victory? Maybe all speculators have already bought it. Get ready for Trump dump."
It believes that speculators may have bought BTC, reducing demand, and if Trump-related assets eventually fall, the "Trump dump" may pull down the price of BTC. (Bitcoin.com)