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As ETH Price Revisits 2023 Lows
Peter Schiff has reiterated his bearish stance on Bitcoin, stating that “bitcoin is losing.” The statement comes as the cryptocurrency’s price continues to struggle, revisiting its 2023 lows. According to CoinGecko, Bitcoin is currently trading at $78,669 after slipping to an intraday low of $78,669.
In a recent tweet, Schiff dismissed the idea of China potentially buying Bitcoin to catch up with the U.S., stating that “they are not that dumb. They are happy to sell us Bitcoin.” This comes as reports suggest that China may be considering selling its Bitcoin holdings.
Schiff’s comments come as the cryptocurrency market continues to see significant volatility, with many experts predicting a bear market rally. The Dow Jones has plummeted by 3.46%, erasing some of its earlier gains. Schiff believes that this is not “too late” for investors to sell their stocks.
The statements made by Schiff have sparked a lot of debate in the cryptocurrency community, with some users arguing that his views are too bearish while others support his stance on Bitcoin’s market performance.
Source: https://u.today/schiff-bitcoin-is-losing
