Popular Bitcoin critic implies that BTC will never reach $25,000
- Cryptocurrency critic, Peter Schiff, has said that no price point can persuade him to purchase Bitcoin.
- Schiff also refuted the plausibility of Bitcoin ever reaching $25,000.
Peter Schiff, a popular cryptocurrency critic, has implied that Bitcoin will never reach $25,000 and added that no price point would cause him to “panic-buy.” He said this in response to a poll published by NonSell.com asking the community members to predict the price that would cause Schiff to “panic-buy” BTC.
This poll is a fraud, as none of the choices are correct. There is no price high enough that would cause me to panic-buy #Bitcoin. Also, it's unlikely that Bitcoin will ever actually trade at any of the price points in the poll. https://t.co/6APYN16WbD
— Peter Schiff (@PeterSchiff) June 26, 2020
In another tweet, Schiff created a poll mocking his crypto-supporting debate partner, Max Keiser. 72% of the poll respondents predicted that Keiser would ride BTC’s price down to zero before selling off.
How low would the price of #Bitcoin have to fall for @maxkeiser to throw in the towel and sell?
— Peter Schiff (@PeterSchiff) June 27, 2020
In a subsequent tweet, Schiff said that despite Grayscale buying “more than 100%” of all bitcoin since May’s halving event, the price for BTC has continued to fall, indicating a selloff by whale investors.
Despite Grayscale Investment Trust buying more than 100% of all the Bitcoin "mined" since the halving, the price of #Bitcoin fell. This likely indicates Bitcoin whales unloading their coins onto GBTC speculators. Distribution from strong to weak hands is very bearish for price.
— Peter Schiff (@PeterSchiff) June 26, 2020
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
