• Peter Schiff is a businessman, investment broker, author, and financial analyst from the United States.
• He has been widely critical of cryptocurrency, believing Bitcoin is considerably closer to its ceiling than to its floor.
• Despite Bitcoin’s price gains, Schiff continues to despise it and recently advised people to sell.
Peter Schiff is a well-known businessman, investment broker, author, and financial analyst from the United States. He is the CEO and chief global strategist of Euro Pacific Capital, a foreign market investing firm. As a result of his bearish views on the US economy and the Federal Reserve, as well as his criticism of government spending and economic intervention, Schiff has been widely critical of cryptocurrency.
Schiff believes that Bitcoin is considerably closer to its ceiling than to its floor, due to the yellow line that was earlier considered support now being considered resistance. He has advised people to sell now because of the small upside potential and great downside risk. Despite this, Bitcoin has grown 27% since his prediction.
Schiff has continued to express his disdain for Bitcoin, despite the fact that its recent price gains have made his prediction look foolish. He has stated that he expects the entire rally to reverse, and for the price of Bitcoin to fall below where it was at the start of its rally. As a result, he has once again recommended that people sell.
Schiff’s views on Bitcoin have been met with criticism and ridicule from many in the crypto community, with some pointing out that his predictions have been wrong in the past. Despite this, Schiff continues to express his negative opinion on Bitcoin and has stated that he will stand by his prediction that it will never reach $100k.