Veteran American trader and economist Peter Schiff claims that Bitcoin climbing over $72,000 is merely a "fakeout" rather than a genuine breakout. He stated that Bitcoin holders have been anticipating that a shift toward easier monetary policy would drive both gold and Bitcoin prices up, but advised people to "sell Bitcoin, buy gold" instead. Bitcoin's recent price jump followed comments from President Donald Trump, who pledged to establish the United States as the primary hub for the cryptocurrency sector.

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