Peter Schiff shows bearish view on bitcoin price

Posted 11 November, 2019

It`s not uncommon to see quite a lot of predictions coming from a range of different people within and outside of the cryptocurrency community, especially when it comes to Bitcoin’s price. Some of them are optimistic, while others not so much. 

Peter Schiff, a popular economist, as well as a recognized author, said that Bitcoin will not return to rapid growth in the near future. It is too early to talk about the rally to the cherished 100 thousand dollars. It is noteworthy that earlier Schiff expressed the opposite opinion, according to which Bitcoin was supposed to update the maximum before the new year.

“It looks like the Bitcoin pump is finally over. Get ready for the dump!” – said Shiff.

 Schiff took to Twitter once again to spill his gloomy outlook on the dominant cryptocurrency. The pullback from $9,250 down to $8,660 may have emboldened the gold bug to proclaim that the move up is over. Following Bitcoin’s surge a few days back when the price jumped to $10,350 from around $7,400 in less than 24 hours, Schiff said that this is the work of “Bitcoin whales.”

Schiff did not explain what exactly was to become the growth driver for the coin. According to him, the market is now in an almost shadowy state, since many projects are being blocked by the US government and several other countries. Attempts to become part of the international financial system do not bring success, which is why it is still difficult to bet on the return of Bitcoin to rapid growth.

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11 November, 2019 13:13

← Singapore’s MAS and JPMorgan develop payments blockchain system

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Singapore’s MAS and JPMorgan develop payments blockchain system

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