Bitcoin Enemies Preventing BTC from 100x Rally: Peter Thiel

Updated:

Delivering his speech at the recently concluded Bitcoin 2022 conference in Miami, Florida, PayPal co-founder Peter Thiel shared a list of what he called: “enemies stopping Bitcoin from rising 100x.”

Thiel noted that the “enemies list [is] a list of people who I think are stopping Bitcoin.” He explained that “there’s a lot of them, they tend to have nameless faceless bureaucrat perspectives, which is, of course, one of the ways they hide.” The billionaire entrepreneur added:

“We are going to try to expose them and realize that this is sort of what we have to fight for bitcoin to go up 10x, 100x from here.

The central banks are going bankrupt. We are at the end of the fiat money regime.”

The first on Theil’s list was Berkshire Hathaway CEO, Warren Buffett. Thiel teased: “I think the sociopathic grandpa of Omaha is perhaps the most honest and the most direct in it.”

He further explained that Buffet is heavily biased against Bitcoin, making him a vocal supporter of the fiat monetary system, and money managers who idolize or follow Buffet will act similarly and steer clear of BTC.

Other names on Thiel’s Bitcoin enemy list include JPMorgan Chase & Co. CEO Jamie Dimon and Blackrock CEO Larry Fink.

Key Bitcoin Levels to Watch — April 10

Bitcoin has come under intense bearish pressure as the benchmark cryptocurrency caves towards the $42,000 support area. This decline comes despite the recent Bitcoin 2022 conference, which many expected to extend some bullish support to the cryptocurrency.

Studio Project 41
BTCUSD – 4-Hour Chart on Gemini. Source: TradingView.

The primary cryptocurrency currently appears to be descending in a batched pattern as the $41,000 level comes into view again. A continuation of this pattern in the coming hours suggests that BTC will continue its descent to the $41,000 – $40,600, where my long-term trendline resides.

On the flip side, a prolonged consolidation above the $42,000 level could trigger a retest and a possible breakout above the $43,000 barrier and help BTC return to the $45,000 axis.

Meanwhile, my resistance levels are at $43,000, $44,000, and $45,000, and my key support levels are at $42,000, $41,000, and $40,000.

Total Market Capitalization: $1.98 trillion

Bitcoin Market Capitalization: $811 billion

Bitcoin Dominance: 41%

Market Rank: #1

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.