Bitcoin (BTC): Why is Peter Schiff thinking of a drop?

The debates around the price of bitcoin (BTC) are endless. In a period of uncertainty, personalities link opinions, and Peter Schiff again makes a sensational exit. Investors should keep an eye out…

Peter Schiff very “up” against CNBC

Once again bitcoin is in the news; and once again Peter Schiff talks about it. Indeed, bitcoin’s regular vocal critic announced in a tweet that investors should prepare for another bitcoin price drop. Founder of SchiffGold and CEO of Euro Pacific Capital, Schiff is well known in the industry for his pessimistic views on cryptocurrencies.

A few days ago, CNBC was discussing the future of BTC optimistically. This intrigued the economist who was quick to demolish this vision. According to him, this initiative is that of big investors and crypto supporters who paid the chain to promote the main cryptocurrency.

He believes that these are intended to push viewers of the media to buy the digital assets. This is not the first time that Peter Schiff has given his opinion on the top two cryptos by market capitalization.

Will BTC plunge further?

The crypto space has grown slightly compared to last week. Indeed, the overall capitalization has gained 0.97% in the last 24 hours. This is certainly due to the fact that bitcoin (BTC), ethereum (ETH), Cardano (ADA), Ripple (XRP) and other altcoins are currently trading green.

However, Peter Schiff remains convinced that the main cryptocurrency will fall further. Because of this, CNBC’s optimistic discussion is a work of big bitcoin whales to mislead investors. His release raises questions.

However, remember that every time he made a prediction on the price of BTC, it turned out to be 100% true. In June, he claimed bitcoin would drop to $20,000 and ETH would plunge to $1,200. This turned out to be true as a few days later, the two mentioned cryptos were trading around the target.

After rather successful predictions, the economist is sure to be right once again. Although some people, including Binance CEO CZ, think it tweet more about bitcoin than gold, Peter Schiff continues to warn investors.

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