Peter Schiff, CEO of Euro Pacific Capital and chairman of SchiffGold, an economist, fund manager, and podcaster who has long criticised Bitcoin compared to gold, responded to comments about the near future of the BTC price on June 7th.
He does not believe that the world’s most popular cryptocurrency could rise in value, as he did in the past. Peter Schiff on June 11 turned to Twitter to caution people against buying cryptocurrency during this downturn.
In a tweet, Schiff predicted that Bitcoin and Ether would plummet much more, with the entire crypto market valuation falling to $800 billion. He warned his followers not to buy the drop because it would result in much more losses.
He tweeted the following:
Gold bug Peter Schiff took to Twitter to respond to a message from early Bitcoin and Ethereum adopter Davinci Jeremie about the level of Bitcoin prices expected to reach in the near future.
Jeremie asked Schiff if BTC would first fall to $ 2,000 or rise to $200,000 in value. The CEO of SchiffGold said the only price Bitcoin will ever reach is $2,000, and that “$200,000 will never happen” to BTC.
Here is the tweet:
Meanwhile on June 13, Peter Schiff also lashed out at CNBC for trying to be biassed on the bullish side of Bitcoin. Peter Schiff accused CNBC of inviting guests that act as bitcoin pumpers and never inviting the ones who are on the bearish side.
Peter tweeted the following:
Are you bullish or bearish on Bitcoin? Comment below.
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