This week again, the price of bitcoin is at the center of debates and various analyses. Those who are perfectly familiar with the world of cryptocurrency know that Peter Schiff would not fail to express his opinion. And that is certainly what happened! In a tweet, the founder of SchiffGold and CEO of Euro Pacific capital issues an alert to investors: a new fall in the price of bitcoin.
What about Peter Schiff’s predictions?
We know Peter Schiff for his pessimism about cryptocurrencies, especially bitcoin. For some, his predictions and his criticisms result only from the great aversion he has against cryptocurrencies.
However, we must admit one thing: Peter Schiff got it right when it comes to BTC. The proof, his predictions have proven to be correct twice (and only this year). In June, he announced the fall in price of two main cryptos: bitcoin and ethereum. He even predicted a depreciation of Bitcoin (BTC) to $20,000, compared to $12,000 for Ethereum (ETH). A few days later, the two cryptocurrencies traded at the prices raised (with some differences).
In August, Peter Schiff releases another bitcoin price prediction. Once again, this turned out to be correct.
“A further fall in the price of Bitcoin”, says Peter Schiff
Via his tweet, Peter Schiff predicts another huge drop in the price of BTC. But this time, it is aimed directly at “Bitcoin hodlers”. To support his words, Schiff offers two important facts:
- Bitcoin’s absence from the market rally
- The value of this crypto valued at just $19,000
According to him, risky assets will drop again if bitcoin does not grow alongside other assets.
For many, this caveat from Peter Schiff is sort of a response to the bitcoin discussion on CNBC. A discussion that speaks optimistically about the future of this crypto. Most users are therefore wondering one thing: could this economist’s tweet be the result of an analysis or perhaps a strategy to buffer the enthusiasm triggered by the discussion on CNBC? To meditate !
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