News

Peter Schiff Is Giving Bitcoin Owners “Christmas Gift”

Key Points:

Christmas conjures up images of warmth, joy, and peace unless you are cryptocurrency critic Peter Schiff.
Schiff advised HODLers to “sell today” because of the prospect of a significant downside risk relative to a low upward potential.
Schiff claimed that he comprehends Bitcoin better than its users, which is precisely why he does not possess the most valuable cryptocurrency.

Christmas conjures up images of warmth, joy, and peace unless you are cryptocurrency critic Peter Schiff.

On Christmas Day, the loudest anti-BTC voice had yet another message to share with BTC proponents – a price chart suggesting Bitcoin is closer to its ceiling than its floor:

My #Christmas gift to #HODLers is this #Bitcoin chart. As you can see BTC is much closer to its ceiling than its floor. The yellow line that was once support is now resistance. Since the upside potential is so low and downside risk so high, the smart move is to sell today.

Following his kind words, Schiff advised HODLers to “sell today” because of the prospect of a significant downside risk relative to a low upward potential. Finally, he offered HODLers the chance to thank him later for the money they would have saved by selling now.

The following tweet from Schiff linked the trajectory of Bitcoin to that of gold in 1999, but he also predicted that it would likely follow a far different course. Bitcoin, which he referred to as “the anti-gold,” would “break down” as opposed to “burst out,” he said.

Schiff contends that cryptocurrencies are merely speculation, not actual money. He frequently claims that only perception and manipulation are responsible for BTC’s value. The economist is certain that the only true “safe-haven” asset is gold.

Recently, Schiff claimed that he comprehends Bitcoin better than its users, which is precisely why he does not possess the most valuable cryptocurrency.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.