This week again, the price of bitcoin is at the center of various discussions and analyses. Those who are well acquainted with the cryptocurrency world know that Peter Schiff would not fail to express his opinion. And it sure did! In a tweet, SchiffGold founder and CEO of Euro Pacific capital issues a warning to investors: a new fall in the price of bitcoin.
What about Peter Schiff’s prediction?
We know Peter Schiff for his pessimism about cryptocurrencies, especially bitcoin. For some, his predictions and criticisms are only a result of his great distaste for cryptocurrencies.
However, we must admit one thing: Peter Schiff he got it right when it comes to BTC. The proof, his predictions have been proven to be correct twice (and only this year). In June, he announced the fall in the price of two main cryptocurrencies: bitcoin and ethereum. He even predicted the depreciation of Bitcoin (BTC) to $20,000, compared to $12,000 for Ethereum (ETH). A few days later, both cryptocurrencies traded at the raised prices (with some differences).
In August, Peter Schiff releases another prediction on the price of bitcoin. Once again, this turned out to be correct.
“Another fall in the price of Bitcoin”, says Peter Schiff
Through his tweet, Peter Schiff predicted another huge drop in BTC price. 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 encryption was only $19,000.
According to him, risky assets will fall again if bitcoin does not grow alongside other assets.
For many, this caveat from Peter Schiff is a kind of response to the bitcoin discussion on CNBC. A discussion that speaks optimistically about the future of this crypto. Most users are wondering one thing then: could this economist’s tweet be the result of an analysis or perhaps a strategy to dampen the enthusiasm that fueled the discussion on CNBC? To reflect!
Get a summary of the news in the world of cryptocurrencies by subscribing to our new service daily and weekly so you don’t miss any of the essential Cointribune!
My name is Ariela and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago. But it’s a universe I’m very interested in. And the topics covered in the platform give me the opportunity to learn more. A singer in my spare time, I also have a great passion for music and reading (and animals!
