The crypto world is a hub to explore myriad topics like how to withdraw money from Bitbns, bitbns exchange, or the bitbns withdrawal issue, etc. As we all know cryptocurrency has been going through a tough bearish market phase since 2021, but still, some people keep an optimistic stance on Bitcoin cryptocurrency. Gold bug and economist Peter Schiff is one such example. He calls it a smart move in selling bitcoin today. However, not many people agree with him and neither supports the price analysis of this foremost cryptocurrency. According to them, Peter is advising investors to sell at the bottom. Let us know more about it further.
Peter Schiff supports Bitcoin selling
Peter Schiff a well-known Gold bug and economist left a Christmas message for Bitcoin investors. He is known to be the founder and present chairman of Schiffgold specialized in precious metals like gold and silver bullion. Peter has been a BTC skeptic, who has been showing support for crypto, while also promoting gold.
On Sunday, he made a tweet giving a Christmas surprise to HODLers in the form of a Bitcoin chart. If you regularly follow crypto news then you can see the foremost crypto getting closer to its ceiling instead of its floor. The yellow line that was once in support has now switched to resistance. And since its potential is lower and with high downside risk, hence the smart move is to sell BTC at present.
Getting support and criticism
Peter Schiff who gave Christmas advice to investors regarding selling Bitcoin got both applause and criticism from the people. Those who did not like his idea criticized Schiff for creating panic in selling. Someone even responded to his tweet. He told Schiff to mention the things when Bitcoin will be on the top, only then it may be helpful to someone. Selling Bitcoin at the bottom will not going to help.
Schiff was also reminded by some people that Bitcoin has so far outshined the valuable asset gold in the long term. The Christmas present to be given to Schiff is the gold chart that does a comparison in the performance of BTC during the highest period of inflation in a generation. Schiff has also been accused by numerous investors of not knowing the cryptocurrency.
But the economist came to the defense of his knowledge of Bitcoin in a tweet. According to him, the accusation he faced from the gang of Bitcoin HODLers for not being properly familiar with Bitcoin. But according to Schiff, he is well aware of Bitcoin in comparison to those who own it.
Conclusion
No matter whether Peter Schiff has encouraged the selling of Bitcoin, he also gave warning about the foremost crypto coin. He cautioned about no rise in the price of Bitcoin when other financial assets bounced back. In November, he did a prediction about Bitcoin having a long way to fall. He said this by giving valuing Bitcoin by $10K. According to his belief, there will be a crash in the United States dollar and also result in major financial loss of the Federal Reserve’s actions. Log on to Cryptoknowmics to discover more topics on how to add money in Bitbns.
