Peter Schiff: Get off the Bitcoin (BTC) ship now!

No coiner one day, no coiner still. This is how we can qualify Peter Schiff, the man who predicted the end of bitcoin and cryptocurrencies. It no longer surprises beleivers when it recommends abandoning those assets. They are used to seeing it spitting its venom on cryptos and hodlers.

Peter Schiff describes bitcoin as ” sinking ship »

Will Peter Schiff ever be able to get rid of his hatred for bitcoin and other cryptocurrencies? In any case, he never misses an opportunity to denigrate the currency created by Satoshi as soon as he feels like it. This is the reason why he was awarded the status of “Bitcoin promoter in spite of himself” in 2020.

Recently, the founder of SchiffGold challenged bitcoiners on Twitter. He advised them to drop bitcoin for good before it crashes.

For the boss of the defunct bank Euro Pacific Capital, the floor of 20,000 dollars consolidated by bitcoin would be illusory. At this level, the queen of cryptocurrencies would mislead investors. The latter being encouraged to buy BTC by believing in this “ false floor “.

Markets rarely give investors time to buy lows. Bitcoin has traded near $20,000 in the past 12 days. It’s more likely that $20K comes across as a false bottom, giving the naive plenty of time to board a sinking boat. Better to abandon ship before the bottom collapses. »

A laughingstock of the crypto community?

Peter Schiff is one of the most famous haters bitcoin. This leading economist, podcast and gold advocate, who is worth $80 million, had built a reputation with series of predictions on BTC and ETH falls.

But let’s not forget that he is also the owner of a Puerto Rican bank who has just filed for bankruptcy. Didn’t he tweet a message explaining the collapse of this institution a month ago, following accusations of tax evasion and money laundering?

Schiff’s problems with Euro Pacific earned him ironies from the crypto community and from Nayib Bukele at the time.

Upon learning of these difficulties, some Internet users suggested that he invest in cryptocurrencies in order to recover the money lost with Euro Pacific.

Peter Schiff, who wants to be a good investment adviser, seems to have lost his credibility with the collapse of his Puerto Rican bank. But as the cryptocurrency market is currently going through a bad patch, he takes the liberty of giving us some advice that will prepare us for a possible fall in bitcoin. At the time of writing, bitcoin is trading at $19,044.88 on CoinGecko. Schiff, is he telling the truth when he calls bitcoin ” sinking ship »? The man who dared to troll this so-called expert in economics and finance, Nayib Bukele, suggested however to be patient in these troubled times.

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