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“Bitcoin (BTC) is unlikely to reach $100,000”; Says Economist Famous for Criticizing Cryptocurrency

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The economist, along with names like Warren Buffet, belongs to the group of economists who criticize cryptocurrency (Image: Shutterstock)

“You know what’s worse than advising people to sell Bitcoin and then watch it go up 30% next week?”

That’s what asked Peter Schiff, famous American economist and staunch critic of cryptocurrency, this Tuesday (24). For him, the answer tends to be more critical to cryptocurrencyand quite linked to the regret of not having sold.

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“Own Bitcoin, watch it rise 30% in a week, sell none, then watch the whole rally reverse and Bitcoin drop below the level where it originally rose from.”

The economist, along with names like Warren Buffet, belongs to the group of economists who criticize cryptocurrency.

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Among the comments on the publication, one of his followers on the social network asks him: “Do you mean in addition to telling people to sell? What are you going to tell them in 100k? I have a feeling you’ll be joining them.”

In response, Schiff says he probably won’t say anything in a scenario where Bitcoin trades at $ 100K, “as Bitcoin is unlikely to trade that high.”

The $100,000 mark became a dream among investors, and many believed it would come true in 2021, when Bitcoin reached its all-time high of nearly $70,000.

Source: Moneytimes

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