Founder of SchiffGold and CEO of Euro Pacific Capital Peter Schiff has taken to Twitter to comment on the return of Bitcoin above the $20,000 level. He does not believe the growth will continue.
"$20K is the new $30K" for Bitcoin
Schiff has warned that Bitcoin holders should not get excited about BTC going back above the $20,000 line. He believes that $20,000 is "the new $30,000" and that such small rises are normal for a big decline. Big drops do not occur in a single line, he added, and the slow crash is "extremely orderly."
Schiff also stated that he does not yet see any signs of a capitulation that would signify a bottom of the current bear market for crypto.
Several times earlier this year, Schiff shared a prediction that Bitcoin would fall as low as to test $6,000. Over the weekend, he tweeted that his earlier prediction of the cryptocurrency market dropping below the $800 billion mark had been confirmed, but it took a few more days and altcoins held up better than he expected them too.
"Gold has risen 40% since 2017 unlike BTC"
Even then
Between Bitcoin and Gold I prefer invest to Bitcoin. You?
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